Wolfspeed (NYSE:WOLF) Issues Quarterly Earnings Results

Wolfspeed (NYSE:WOLF) announced its quarterly earnings data on Wednesday. The company reported ($1.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.20) by $0.09, reports. Wolfspeed had a negative net margin of 107.93% and a negative return on equity of 37.76%. The business had revenue of $194.70 million for the quarter, compared to analyst estimates of $200.11 million. Wolfspeed updated its Q2 guidance to ($1.14) – $0.89 EPS and its Q2 2025 guidance to -1.140–0.890 EPS.

Wolfspeed Price Performance

Shares of NYSE WOLF traded up $1.28 during midday trading on Friday, reaching $9.61. The company’s stock had a trading volume of 9,196,058 shares, compared to its average volume of 6,629,192. Wolfspeed has a one year low of $7.28 and a one year high of $47.43. The company has a market cap of $1.22 billion, a price-to-earnings ratio of -1.31 and a beta of 1.46. The company has a 50 day moving average price of $10.92 and a 200 day moving average price of $18.16. The company has a current ratio of 4.51, a quick ratio of 3.85 and a debt-to-equity ratio of 6.99.

Wall Street Analysts Forecast Growth

WOLF has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Wolfspeed from $17.00 to $14.00 and set a “hold” rating for the company in a research note on Thursday, August 22nd. Canaccord Genuity Group decreased their price objective on shares of Wolfspeed from $25.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday. TD Cowen dropped their price target on Wolfspeed from $25.00 to $15.00 and set a “hold” rating for the company in a research report on Thursday, August 22nd. JPMorgan Chase & Co. decreased their price objective on Wolfspeed from $20.00 to $17.00 and set a “neutral” rating on the stock in a research note on Thursday. Finally, New Street Research cut shares of Wolfspeed from a “buy” rating to a “neutral” rating and set a $18.00 price target on the stock. in a research note on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $17.36.

Hedge Funds Weigh In On Wolfspeed

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Iridian Asset Management LLC CT raised its holdings in shares of Wolfspeed by 319.9% during the third quarter. Iridian Asset Management LLC CT now owns 521,158 shares of the company’s stock valued at $5,055,000 after acquiring an additional 397,057 shares during the period. Lazard Asset Management LLC raised its stake in Wolfspeed by 292,375.0% during the 1st quarter. Lazard Asset Management LLC now owns 70,194 shares of the company’s stock valued at $2,070,000 after purchasing an additional 70,170 shares during the period. Rheos Capital Works Inc. lifted its holdings in shares of Wolfspeed by 140.8% in the third quarter. Rheos Capital Works Inc. now owns 427,500 shares of the company’s stock valued at $4,147,000 after purchasing an additional 250,000 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Wolfspeed by 3.6% in the first quarter. Vanguard Group Inc. now owns 13,079,067 shares of the company’s stock valued at $385,832,000 after acquiring an additional 449,732 shares during the period. Finally, Boston Partners acquired a new stake in shares of Wolfspeed in the first quarter worth $1,621,000.

About Wolfspeed

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.