Wolfspeed (NYSE:WOLF) Price Target Cut to $25.00

Wolfspeed (NYSE:WOLF) had its price target dropped by analysts at Susquehanna from $35.00 to $25.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Susquehanna’s target price would suggest a potential upside of 2.17% from the company’s previous close.

A number of other research analysts have also recently issued reports on WOLF. Piper Sandler lowered their price objective on Wolfspeed from $55.00 to $45.00 and set an “overweight” rating for the company in a research note on Thursday, February 1st. Mizuho initiated coverage on Wolfspeed in a report on Friday, April 5th. They issued a “neutral” rating and a $30.00 target price for the company. Wells Fargo & Company reissued an “equal weight” rating and issued a $30.00 target price (down previously from $55.00) on shares of Wolfspeed in a report on Wednesday, April 3rd. Finally, JPMorgan Chase & Co. reduced their target price on Wolfspeed from $43.00 to $35.00 and set a “neutral” rating for the company in a report on Thursday, April 11th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Wolfspeed presently has an average rating of “Hold” and a consensus target price of $41.88.

Wolfspeed Trading Up 8.4 %

WOLF opened at $24.47 on Tuesday. The business has a 50 day moving average of $26.71 and a 200-day moving average of $32.45. The stock has a market cap of $3.08 billion, a PE ratio of -4.02 and a beta of 1.66. Wolfspeed has a 52 week low of $21.85 and a 52 week high of $70.42. The company has a quick ratio of 4.58, a current ratio of 5.13 and a debt-to-equity ratio of 4.50.

Wolfspeed (NYSE:WOLF) last announced its quarterly earnings data on Wednesday, January 31st. The company reported ($0.69) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.79) by $0.10. The business had revenue of $208.40 million during the quarter, compared to analysts’ expectations of $205.94 million. Wolfspeed had a negative return on equity of 19.35% and a negative net margin of 87.35%. Equities research analysts predict that Wolfspeed will post -3.05 earnings per share for the current fiscal year.

Insider Activity

In other Wolfspeed news, Director Darren R. Jackson acquired 10,000 shares of the stock in a transaction dated Friday, February 2nd. The shares were acquired at an average cost of $25.80 per share, for a total transaction of $258,000.00. Following the completion of the transaction, the director now directly owns 49,021 shares of the company’s stock, valued at $1,264,741.80. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.85% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. TFO Wealth Partners LLC grew its stake in shares of Wolfspeed by 57,400.0% during the fourth quarter. TFO Wealth Partners LLC now owns 575 shares of the company’s stock valued at $25,000 after buying an additional 574 shares during the last quarter. Independence Bank of Kentucky grew its stake in Wolfspeed by 97.0% in the fourth quarter. Independence Bank of Kentucky now owns 711 shares of the company’s stock worth $31,000 after purchasing an additional 350 shares in the last quarter. Rakuten Securities Inc. bought a new position in Wolfspeed in the fourth quarter worth approximately $48,000. Fifth Third Bancorp grew its stake in Wolfspeed by 56.9% in the first quarter. Fifth Third Bancorp now owns 1,246 shares of the company’s stock worth $37,000 after purchasing an additional 452 shares in the last quarter. Finally, GAMMA Investing LLC bought a new position in Wolfspeed in the fourth quarter worth approximately $56,000.

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.