Wolfspeed Target of Unusually Large Options Trading (NYSE:WOLF)

Wolfspeed, Inc. (NYSE:WOLF) was the recipient of some unusual options trading on Friday. Investors bought 1,553,766 put options on the company. This represents an increase of 911% compared to the typical daily volume of 153,615 put options.

Analysts Set New Price Targets

A number of research firms have recently weighed in on WOLF. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Wolfspeed in a research note on Saturday, September 27th. Susquehanna lifted their price objective on Wolfspeed to $30.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 22nd. Finally, Wall Street Zen upgraded shares of Wolfspeed from a “sell” rating to a “hold” rating in a research report on Monday, November 3rd. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $10.50.

Wolfspeed Stock Down 0.9%

Shares of Wolfspeed stock traded down $0.16 during trading on Friday, reaching $17.18. 1,365,057 shares of the company were exchanged, compared to its average volume of 4,512,657. The business has a 50-day moving average price of $20.37 and a 200-day moving average price of $8.15. The firm has a market capitalization of $444.93 million and a price-to-earnings ratio of -27.28. Wolfspeed has a twelve month low of $8.05 and a twelve month high of $36.60.

Wolfspeed (NYSE:WOLF) last issued its earnings results on Wednesday, October 29th. The company reported ($0.63) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.05. The company had revenue of $196.80 million for the quarter, compared to the consensus estimate of $195.37 million. Wolfspeed has set its Q2 2026 guidance at EPS. On average, equities research analysts forecast that Wolfspeed will post -4 EPS for the current fiscal year.

Institutional Investors Weigh In On Wolfspeed

Hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp increased its position in shares of Wolfspeed by 10.6% in the 1st quarter. Bank of New York Mellon Corp now owns 839,036 shares of the company’s stock valued at $2,567,000 after buying an additional 80,693 shares in the last quarter. Mutual of America Capital Management LLC raised its position in shares of Wolfspeed by 17.1% during the first quarter. Mutual of America Capital Management LLC now owns 22,653 shares of the company’s stock worth $69,000 after purchasing an additional 3,308 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Wolfspeed by 12.4% during the 1st quarter. Victory Capital Management Inc. now owns 26,562 shares of the company’s stock valued at $81,000 after purchasing an additional 2,922 shares in the last quarter. Oak Thistle LLC bought a new position in shares of Wolfspeed during the 1st quarter valued at about $76,000. Finally, HB Wealth Management LLC acquired a new position in shares of Wolfspeed in the 1st quarter valued at approximately $110,000.

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.