Wolfspeed (NYSE:WOLF) Stock Price Up 5.7%

Wolfspeed, Inc. (NYSE:WOLF - Get Free Report) was up 5.7% on Tuesday . The stock traded as high as $28.63 and last traded at $28.37. Approximately 1,097,665 shares changed hands during trading, a decline of 76% from the average daily volume of 4,621,938 shares. The stock had previously closed at $26.84.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on WOLF shares. Susquehanna reissued a "neutral" rating and set a $35.00 price target on shares of Wolfspeed in a report on Monday. JPMorgan Chase & Co. lowered their price target on Wolfspeed from $44.00 to $43.00 and set a "neutral" rating on the stock in a report on Thursday, February 1st. Wells Fargo & Company reaffirmed an "equal weight" rating and issued a $30.00 target price (down from $55.00) on shares of Wolfspeed in a report on Wednesday, April 3rd. Piper Sandler decreased their target price on Wolfspeed from $55.00 to $45.00 and set an "overweight" rating on the stock in a report on Thursday, February 1st. Finally, Mizuho initiated coverage on Wolfspeed in a report on Friday. They issued a "neutral" rating and a $30.00 target price on the stock. One research analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, Wolfspeed currently has a consensus rating of "Hold" and a consensus target price of $44.13.

Wolfspeed Price Performance

The company has a current ratio of 5.13, a quick ratio of 4.58 and a debt-to-equity ratio of 4.50. The firm has a market cap of $3.63 billion, a PE ratio of -4.75 and a beta of 1.66. The stock has a 50 day simple moving average of $27.32 and a 200-day simple moving average of $33.27.

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

Insider Activity

In other news, Director Darren R. Jackson acquired 10,000 shares of the business's stock in a transaction dated Friday, February 2nd. The stock was purchased at an average price of $25.80 per share, for a total transaction of $258,000.00. Following the completion of the transaction, the director now directly owns 49,021 shares in the company, valued at approximately $1,264,741.80. The acquisition was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.85% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. TFO Wealth Partners LLC lifted its stake in Wolfspeed by 57,400.0% in the fourth quarter. TFO Wealth Partners LLC now owns 575 shares of the company's stock worth $25,000 after purchasing an additional 574 shares during the last quarter. Independence Bank of Kentucky boosted its position in shares of Wolfspeed by 97.0% during the fourth quarter. Independence Bank of Kentucky now owns 711 shares of the company's stock valued at $31,000 after buying an additional 350 shares during the period. First Manhattan CO. LLC. bought a new position in Wolfspeed in the 1st quarter valued at $39,000. Penserra Capital Management LLC bought a new stake in shares of Wolfspeed during the fourth quarter worth $43,000. Finally, Rakuten Securities Inc. bought a new stake in shares of Wolfspeed during the fourth quarter worth $48,000.

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.