Wolfspeed, Inc. (NYSE:WOLF) Receives Consensus Recommendation of "Hold" from Analysts

Wolfspeed, Inc. (NYSE:WOLF - Get Free Report) has been given a consensus recommendation of "Hold" by the fifteen brokerages that are presently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and four have given a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $13.15.

A number of research analysts have recently weighed in on WOLF shares. Bank of America lowered their price target on Wolfspeed from $9.50 to $6.00 and set an "underperform" rating on the stock in a report on Thursday, January 30th. Canaccord Genuity Group lowered their price target on shares of Wolfspeed from $18.00 to $10.00 and set a "buy" rating on the stock in a report on Thursday, January 30th. Piper Sandler reduced their price objective on Wolfspeed from $18.00 to $10.00 and set an "overweight" rating for the company in a research report on Thursday, January 30th. StockNews.com upgraded Wolfspeed to a "sell" rating in a research note on Monday, January 6th. Finally, Susquehanna reduced their price target on Wolfspeed from $11.00 to $7.00 and set a "neutral" rating for the company in a report on Wednesday, January 22nd.

Wolfspeed Price Performance

NYSE:WOLF traded up $0.32 during midday trading on Thursday, hitting $2.89. 7,690,116 shares of the stock were exchanged, compared to its average volume of 12,882,282. The company has a market capitalization of $368.45 million, a price-to-earnings ratio of -0.37 and a beta of 1.69. The company has a current ratio of 3.15, a quick ratio of 2.47 and a debt-to-equity ratio of 17.26. Wolfspeed has a one year low of $2.06 and a one year high of $30.86. The business has a 50-day moving average price of $4.45 and a two-hundred day moving average price of $7.27.

Wolfspeed (NYSE:WOLF - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The company reported ($1.10) EPS for the quarter, missing analysts' consensus estimates of ($0.90) by ($0.20). Wolfspeed had a negative return on equity of 70.84% and a negative net margin of 125.96%. Sell-side analysts predict that Wolfspeed will post -4 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Jones Financial Companies Lllp boosted its position in shares of Wolfspeed by 1,240.6% in the fourth quarter. Jones Financial Companies Lllp now owns 3,834 shares of the company's stock valued at $26,000 after acquiring an additional 3,548 shares during the period. R Squared Ltd bought a new stake in Wolfspeed in the 4th quarter valued at $28,000. Steward Partners Investment Advisory LLC grew its position in Wolfspeed by 192.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,429 shares of the company's stock worth $29,000 after purchasing an additional 2,912 shares during the last quarter. KBC Group NV grew its position in Wolfspeed by 76.5% in the 4th quarter. KBC Group NV now owns 6,064 shares of the company's stock worth $40,000 after purchasing an additional 2,629 shares during the last quarter. Finally, Allworth Financial LP increased its holdings in shares of Wolfspeed by 38.1% during the 4th quarter. Allworth Financial LP now owns 7,060 shares of the company's stock worth $44,000 after purchasing an additional 1,949 shares during the period.

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.