Wolfspeed (NYSE:WOLF) Rating Reiterated by Susquehanna

Wolfspeed (NYSE:WOLF - Get Free Report)'s stock had its "neutral" rating reiterated by investment analysts at Susquehanna in a research report issued on Monday, Benzinga reports. They presently have a $35.00 target price on the stock. Susquehanna's price target points to a potential upside of 30.40% from the company's current price.

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

Wolfspeed Stock Performance

NYSE WOLF traded up $0.53 during trading hours on Monday, hitting $26.84. The company had a trading volume of 2,562,595 shares, compared to its average volume of 4,678,938. The company has a debt-to-equity ratio of 4.50, a quick ratio of 4.58 and a current ratio of 5.13. Wolfspeed has a 1-year low of $23.54 and a 1-year high of $70.42. The company has a market cap of $3.38 billion, a PE ratio of -4.41 and a beta of 1.66. The business has a 50 day moving average of $27.42 and a 200-day moving average of $33.33.

Wolfspeed (NYSE:WOLF - Get Free Report) last announced its earnings results on Wednesday, January 31st. The company reported ($0.69) earnings per share for the quarter, topping the consensus estimate of ($0.79) by $0.10. Wolfspeed had a negative net margin of 87.35% and a negative return on equity of 19.35%. The business had revenue of $208.40 million during the quarter, compared to the consensus estimate of $205.94 million. As a group, equities research analysts expect that Wolfspeed will post -3.05 EPS for the current year.

Insider Transactions at Wolfspeed

In other Wolfspeed news, Director Darren R. Jackson acquired 10,000 shares of the company's stock in a transaction dated Friday, February 2nd. The stock was acquired at an average cost of $25.80 per share, with a total value of $258,000.00. Following the purchase, the director now directly owns 49,021 shares in the company, valued at approximately $1,264,741.80. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.62% of the company's stock.

Institutional Trading of Wolfspeed

A number of hedge funds have recently bought and sold shares of the company. TFO Wealth Partners LLC boosted its holdings in shares of Wolfspeed by 57,400.0% in the 4th quarter. TFO Wealth Partners LLC now owns 575 shares of the company's stock valued at $25,000 after purchasing an additional 574 shares during the last quarter. First Manhattan CO. LLC. acquired a new position in shares of Wolfspeed in the 1st quarter valued at $39,000. Aspire Private Capital LLC boosted its holdings in shares of Wolfspeed by 50.0% in the 4th quarter. Aspire Private Capital LLC now owns 600 shares of the company's stock valued at $41,424,000,000 after purchasing an additional 200 shares during the last quarter. Penserra Capital Management LLC acquired a new position in shares of Wolfspeed in the 4th quarter valued at $43,000. Finally, Independence Bank of Kentucky raised its stake in shares of Wolfspeed by 97.0% in the 4th quarter. Independence Bank of Kentucky now owns 711 shares of the company's stock valued at $31,000 after acquiring an additional 350 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.