Wolfspeed (NYSE:WOLF) Price Target Cut to $25.00 by Analysts at Deutsche Bank Aktiengesellschaft

Wolfspeed (NYSE:WOLF) had its price objective reduced by Deutsche Bank Aktiengesellschaft from $30.00 to $25.00 in a research report sent to investors on Tuesday morning, Benzinga reports. They currently have a hold rating on the stock.

A number of other research analysts also recently issued reports on WOLF. TD Cowen downgraded Wolfspeed from a buy rating to a hold rating and lowered their price target for the company from $40.00 to $25.00 in a report on Thursday, May 2nd. JPMorgan Chase & Co. dropped their price target on shares of Wolfspeed from $43.00 to $35.00 and set a neutral rating on the stock in a report on Thursday, April 11th. Citigroup decreased their price objective on shares of Wolfspeed from $29.00 to $25.00 and set a neutral rating for the company in a report on Thursday, May 2nd. William Blair cut shares of Wolfspeed from an outperform rating to a market perform rating in a report on Thursday, May 2nd. Finally, Roth Mkm reiterated a buy rating and set a $50.00 target price on shares of Wolfspeed in a research note on Tuesday, April 30th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Hold and an average target price of $36.93.

Wolfspeed Price Performance

Shares of WOLF opened at $24.26 on Tuesday. The company has a market capitalization of $3.05 billion, a P/E ratio of -3.76 and a beta of 1.64. Wolfspeed has a twelve month low of $20.63 and a twelve month high of $70.42. The company has a quick ratio of 4.00, a current ratio of 4.58 and a debt-to-equity ratio of 5.55. The firm has a 50 day moving average of $26.59 and a 200 day moving average of $31.90.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in Wolfspeed by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 12,629,335 shares of the company’s stock valued at $549,502,000 after purchasing an additional 157,668 shares in the last quarter. Norges Bank purchased a new position in shares of Wolfspeed during the 4th quarter valued at $308,701,000. Artisan Partners Limited Partnership boosted its holdings in Wolfspeed by 15.5% in the 4th quarter. Artisan Partners Limited Partnership now owns 2,626,081 shares of the company’s stock worth $114,261,000 after buying an additional 352,609 shares during the period. Primecap Management Co. CA increased its stake in Wolfspeed by 1.6% in the 4th quarter. Primecap Management Co. CA now owns 1,906,494 shares of the company’s stock worth $82,952,000 after buying an additional 29,700 shares in the last quarter. Finally, FengHe Fund Management Pte. Ltd. raised its holdings in Wolfspeed by 438.9% during the fourth quarter. FengHe Fund Management Pte. Ltd. now owns 1,431,200 shares of the company’s stock valued at $62,272,000 after acquiring an additional 1,165,600 shares during the period.

Wolfspeed Company Profile

Wolfspeed, Inc operates as a powerhouse semiconductor company focuses on silicon carbide and gallium nitride (GaN) technologies in Europe, Hong Kong, China, rest of Asia-Pacific, the United States, and internationally. It offers silicon carbide and GaN materials, including silicon carbide bare wafers, epitaxial wafers, and GaN epitaxial layers on silicon carbide wafers to manufacture products for RF, power, and other applications.