Wolfspeed (NYSE:WOLF) PT Lowered to $30.00

Wolfspeed (NYSE:WOLF) had its price target decreased by stock analysts at Deutsche Bank Aktiengesellschaft from $35.00 to $30.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft’s target price would suggest a potential upside of 22.60% from the company’s current price.

Several other brokerages have also recently issued reports on WOLF. Mizuho initiated coverage on shares of Wolfspeed in a research report on Friday, April 5th. They issued a “neutral” rating and a $30.00 price target for the company. Wells Fargo & Company restated an “equal weight” rating and issued a $30.00 price target (down from $55.00) on shares of Wolfspeed in a research report on Wednesday, April 3rd. JPMorgan Chase & Co. decreased their price target on shares of Wolfspeed from $43.00 to $35.00 and set a “neutral” rating for the company in a research report on Thursday, April 11th. Piper Sandler decreased their price target on shares of Wolfspeed from $55.00 to $45.00 and set an “overweight” rating for the company in a research report on Thursday, February 1st. Finally, Susquehanna decreased their price objective on shares of Wolfspeed from $35.00 to $25.00 and set a “neutral” rating for the company in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $41.88.

Wolfspeed Price Performance

Shares of NYSE:WOLF opened at $24.47 on Tuesday. The company has a market cap of $3.08 billion, a price-to-earnings ratio of -4.02 and a beta of 1.66. The company has a debt-to-equity ratio of 4.50, a current ratio of 5.13 and a quick ratio of 4.58. The firm has a 50 day simple moving average of $26.71 and a 200 day simple moving average of $32.45. Wolfspeed has a one year low of $21.85 and a one year high of $70.42.

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

Insiders Place Their Bets

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in WOLF. TFO Wealth Partners LLC lifted its stake in shares of Wolfspeed by 57,400.0% in 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 in the last quarter. Independence Bank of Kentucky raised its position in shares of Wolfspeed by 97.0% in the fourth quarter. Independence Bank of Kentucky now owns 711 shares of the company’s stock valued at $31,000 after purchasing an additional 350 shares during the period. Fifth Third Bancorp raised its position in shares of Wolfspeed by 56.9% in the first quarter. Fifth Third Bancorp now owns 1,246 shares of the company’s stock valued at $37,000 after purchasing an additional 452 shares during the period. Rakuten Securities Inc. bought a new stake in shares of Wolfspeed in the fourth quarter valued at approximately $48,000. Finally, GAMMA Investing LLC bought a new stake in Wolfspeed during the 4th 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.