Wolfspeed, Inc. (NYSE:WOLF) Receives Average Rating of "Reduce" from Analysts

Key Points

• Analysts give Wolfspeed an average rating of "Reduce" (three sell, two hold, one buy) with a consensus 12‑month price target of $14.33.
• The company reported a sharp earnings miss—EPS of ($6.11) vs. a ($0.74) consensus—and revenue declined 6.6% year‑over‑year; the stock has a market cap of about $1.4B and a 12‑month range of $8.05–$36.60.
• Despite analyst caution, institutional investors have been active: Renesas opened a new position worth roughly $293.4M, while UBS and Goldman Sachs materially increased their holdings.

Shares of Wolfspeed, Inc. (NYSE:WOLF - Get Free Report) have earned an average rating of "Reduce" from the six research firms that are currently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a sell recommendation, two have given a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $14.3333.

Several research analysts have recently commented on WOLF shares. Zacks Research raised Wolfspeed to a "hold" rating in a research report on Monday, February 9th. Piper Sandler reissued an "overweight" rating and issued a $20.00 price target (up from $6.00) on shares of Wolfspeed in a research report on Thursday, February 5th. Susquehanna reduced their target price on Wolfspeed from $30.00 to $20.00 and set a "neutral" rating on the stock in a research report on Thursday, January 22nd. Wall Street Zen lowered Wolfspeed from a "hold" rating to a "sell" rating in a research report on Saturday, February 7th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Wolfspeed in a research report on Friday, March 27th.

Wolfspeed Trading Down 0.3%

WOLF opened at $31.13 on Monday. The firm has a market cap of $1.40 billion and a price-to-earnings ratio of -4.42. Wolfspeed has a 12 month low of $8.05 and a 12 month high of $36.60. The stock has a fifty day moving average price of $19.92 and a 200-day moving average price of $20.58.

Wolfspeed (NYSE:WOLF - Get Free Report) last released its quarterly earnings results on Wednesday, January 28th. The company reported ($6.11) EPS for the quarter, missing the consensus estimate of ($0.74) by ($5.37). Wolfspeed's revenue was down 6.6% on a year-over-year basis. During the same period in the previous year, the company earned ($0.95) earnings per share.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in WOLF. Renesas Electronics America Inc. acquired a new position in Wolfspeed during the 4th quarter valued at about $293,400,000. Capital Research Global Investors acquired a new position in Wolfspeed during the 3rd quarter valued at about $79,426,000. UBS Group AG increased its position in Wolfspeed by 3,413.9% during the 4th quarter. UBS Group AG now owns 1,269,548 shares of the company's stock valued at $22,103,000 after buying an additional 1,233,419 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Wolfspeed by 94.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,868,741 shares of the company's stock valued at $5,718,000 after purchasing an additional 906,968 shares during the period. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Wolfspeed by 176.7% in the first quarter. Goldman Sachs Group Inc. now owns 1,380,499 shares of the company's stock valued at $4,224,000 after purchasing an additional 881,603 shares during the period.

About Wolfspeed

Wolfspeed, Inc NYSE: WOLF is a leading developer and manufacturer of silicon carbide (SiC) and gallium nitride (GaN) semiconductor materials and devices. The company's product portfolio addresses high-growth markets such as electric vehicles, renewable energy, fast-charging infrastructure, aerospace and defense, and telecommunications. By leveraging proprietary materials and device designs, Wolfspeed delivers solutions that offer improved energy efficiency, higher power density and greater thermal performance compared to conventional silicon-based semiconductors.

Founded as part of Cree, Inc and spun off to form an independent public company in October 2021, Wolfspeed traces its roots to the mid-1980s when it pioneered the commercial use of wide-bandgap semiconductor technology.

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