Wolfspeed, Inc. (NYSE:WOLF) Given Average Recommendation of "Hold" by Brokerages

Shares of Wolfspeed, Inc. (NYSE:WOLF - Get Free Report) have been assigned a consensus rating of "Hold" from the fifteen analysts that are currently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $13.15.

Several research analysts have recently weighed in on the stock. Susquehanna lowered their price target on shares of Wolfspeed from $11.00 to $7.00 and set a "neutral" rating on the stock in a research report on Wednesday, January 22nd. The Goldman Sachs Group decreased their target price on shares of Wolfspeed from $15.00 to $8.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. StockNews.com upgraded shares of Wolfspeed to a "sell" rating in a report on Monday, January 6th. Bank of America decreased their price objective on Wolfspeed from $9.50 to $6.00 and set an "underperform" rating on the stock in a report on Thursday, January 30th. Finally, Piper Sandler reduced their target price on Wolfspeed from $18.00 to $10.00 and set an "overweight" rating on the stock in a research report on Thursday, January 30th.

Institutional Investors Weigh In On Wolfspeed

Large investors have recently added to or reduced their stakes in the business. Jones Financial Companies Lllp increased its position in shares of Wolfspeed by 1,240.6% during the fourth quarter. Jones Financial Companies Lllp now owns 3,834 shares of the company's stock worth $26,000 after acquiring an additional 3,548 shares during the period. R Squared Ltd purchased a new position in shares of Wolfspeed in the 4th quarter valued at about $28,000. Steward Partners Investment Advisory LLC grew its position in shares of Wolfspeed by 192.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,429 shares of the company's stock worth $29,000 after buying an additional 2,912 shares in the last quarter. Beacon Capital Management LLC purchased a new stake in shares of Wolfspeed during the first quarter worth approximately $31,000. Finally, KBC Group NV raised its holdings in Wolfspeed by 76.5% in the fourth quarter. KBC Group NV now owns 6,064 shares of the company's stock valued at $40,000 after acquiring an additional 2,629 shares in the last quarter.

Wolfspeed Price Performance

NYSE WOLF traded down $0.02 during trading hours on Thursday, hitting $2.45. 14,461,365 shares of the company's stock traded hands, compared to its average volume of 12,866,310. The company has a market capitalization of $312.90 million, a PE ratio of -0.32 and a beta of 1.69. The company has a debt-to-equity ratio of 17.26, a current ratio of 3.15 and a quick ratio of 2.47. Wolfspeed has a 52-week low of $2.06 and a 52-week high of $30.86. The firm's 50-day moving average is $4.59 and its 200-day moving average is $7.34.

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

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.