Wolfspeed, Inc. (NYSE:WOLF) Stock Has Consensus Target Price of $25.00 According to Brokerages

Wolfspeed, Inc. (NYSE:WOLF) has received a consensus rating of “Hold” from the five research firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $25.00.

Several equities research analysts have recently commented on WOLF shares. Susquehanna decreased their target price on shares of Wolfspeed from $40.00 to $30.00 and set a “neutral” rating for the company in a research report on Tuesday, July 21st. Wall Street Zen lowered shares of Wolfspeed from a “sell” rating to a “strong sell” rating in a report on Saturday, September 19th. TD Cowen reaffirmed a “hold” rating and issued a $25.00 price target on shares of Wolfspeed in a research report on Thursday, August 20th. Zacks Research upgraded Wolfspeed to a “hold” rating in a research note on Friday, September 25th. Finally, Weiss Ratings raised Wolfspeed from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, October 8th.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. FNY Investment Advisers LLC bought a new stake in Wolfspeed during the second quarter worth $204,000. AXQ Capital LP bought a new position in Wolfspeed during the 2nd quarter valued at $208,000. Concurrent Investment Advisors LLC purchased a new position in Wolfspeed during the 2nd quarter worth $229,000. Royal Bank of Canada purchased a new position in Wolfspeed during the 1st quarter worth $89,000. Finally, WINTON GROUP Ltd purchased a new position in Wolfspeed during the 2nd quarter worth $299,000.

Wolfspeed Price Performance

Shares of Wolfspeed stock opened at $25.96 on Friday. Wolfspeed has a one year low of $13.48 and a one year high of $80.82. The firm has a market capitalization of $1.37 billion and a price-to-earnings ratio of -1.65. The business has a 50-day simple moving average of $28.18 and a 200 day simple moving average of $35.49.

Wolfspeed (NYSE:WOLF) last announced its quarterly earnings results on Wednesday, August 19th. The company reported ($2.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.45) by $0.19. The firm had revenue of $149.60 million during the quarter, compared to the consensus estimate of $150.00 million. During the same quarter in the previous year, the company posted ($0.77) EPS. The firm’s revenue was down 24.1% on a year-over-year basis. On average, sell-side analysts expect that Wolfspeed will post -8.27 EPS for the current year.

About Wolfspeed

Wolfspeed, Inc (NYSE:WOLF) develops and manufactures semiconductor technologies based primarily on silicon carbide, a wide-bandgap material designed to support efficient power conversion and high-temperature operation. Its products are used in applications where reduced energy loss, higher power density and improved thermal performance are important.

The company’s offerings include silicon carbide wafers and materials, power modules, metal-oxide-semiconductor field-effect transistors (MOSFETs), diodes and other power semiconductor devices.