Wolfspeed, Inc. (NYSE:WOLF) Receives Consensus Recommendation of “Hold” from Brokerages

Wolfspeed, Inc. (NYSE:WOLF) has been given a consensus rating of “Hold” by the sixteen research firms that are currently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $22.43.

Several equities research analysts have recently commented on WOLF shares. Morgan Stanley reduced their price target on shares of Wolfspeed from $23.00 to $15.00 and set an “equal weight” rating for the company in a research report on Thursday, August 15th. Oppenheimer reiterated a “market perform” rating on shares of Wolfspeed in a research report on Tuesday, July 9th. Piper Sandler cut their price objective on shares of Wolfspeed from $35.00 to $20.00 and set an “overweight” rating for the company in a research report on Thursday, August 22nd. Susquehanna decreased their target price on Wolfspeed from $23.00 to $16.00 and set a “neutral” rating on the stock in a report on Thursday, August 22nd. Finally, Canaccord Genuity Group lowered their target price on Wolfspeed from $45.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th.

Wolfspeed Trading Up 10.1 %

NYSE:WOLF opened at $9.48 on Friday. The company has a market cap of $1.19 billion, a PE ratio of -1.47 and a beta of 1.52. The company has a current ratio of 4.51, a quick ratio of 3.85 and a debt-to-equity ratio of 6.99. The company has a 50 day simple moving average of $11.14 and a two-hundred day simple moving average of $20.43. Wolfspeed has a 12 month low of $7.28 and a 12 month high of $47.43.

Wolfspeed (NYSE:WOLF) last issued its quarterly earnings data on Wednesday, August 21st. The company reported ($1.06) EPS for the quarter, missing the consensus estimate of ($1.03) by ($0.03). The firm had revenue of $200.70 million during the quarter, compared to the consensus estimate of $201.11 million. Wolfspeed had a negative return on equity of 37.76% and a negative net margin of 107.93%. Research analysts forecast that Wolfspeed will post -3.84 earnings per share for the current year.

Institutional Trading of Wolfspeed

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Wolfspeed by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 13,079,067 shares of the company’s stock valued at $385,832,000 after buying an additional 449,732 shares in the last quarter. Primecap Management Co. CA grew its stake in Wolfspeed by 15.3% during the second quarter. Primecap Management Co. CA now owns 6,045,310 shares of the company’s stock valued at $137,591,000 after acquiring an additional 800,540 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Wolfspeed by 14.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,177,332 shares of the company’s stock valued at $26,796,000 after acquiring an additional 147,527 shares during the last quarter. Samlyn Capital LLC lifted its stake in Wolfspeed by 51.6% in the 2nd quarter. Samlyn Capital LLC now owns 1,009,137 shares of the company’s stock worth $22,968,000 after purchasing an additional 343,277 shares in the last quarter. Finally, Cibc World Markets Corp bought a new position in shares of Wolfspeed during the 4th quarter valued at about $34,808,000.

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.