Wolfspeed (NYSE:WOLF) Given Average Recommendation of "Hold" by Analysts

Key Points

• Wolfspeed (NYSE:WOLF) has received a consensus rating of "Hold" from ten brokerages, with four sell, two hold, and four buy recommendations.
• The average twelve-month target price for the stock among analysts is $9.80, despite a recent share price of $2.33.
• Institutional investors have shown increased interest in Wolfspeed, with several firms boosting their stakes significantly during the first quarter of this year.

Shares of Wolfspeed (NYSE:WOLF - Get Free Report) have been assigned a consensus rating of "Hold" from the ten brokerages that are presently covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and four have given a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $9.80.

Wolfspeed Stock Up 23.9%

Shares of WOLF opened at $2.33 on Friday. The firm has a market cap of $364.58 million, a P/E ratio of -0.21 and a beta of 1.29. The stock has a 50 day simple moving average of $1.51 and a two-hundred day simple moving average of $2.46. The company has a debt-to-equity ratio of 30.65, a current ratio of 0.36 and a quick ratio of 0.30. Wolfspeed has a 1 year low of $0.39 and a 1 year high of $17.45.

Institutional Trading of Wolfspeed

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Victory Capital Management Inc. boosted its stake in Wolfspeed by 12.4% in the first quarter. Victory Capital Management Inc. now owns 26,562 shares of the company's stock worth $81,000 after buying an additional 2,922 shares in the last quarter. Mutual of America Capital Management LLC boosted its stake in shares of Wolfspeed by 17.1% during the first quarter. Mutual of America Capital Management LLC now owns 22,653 shares of the company's stock valued at $69,000 after purchasing an additional 3,308 shares during the period. SBI Securities Co. Ltd. boosted its stake in shares of Wolfspeed by 39.7% during the first quarter. SBI Securities Co. Ltd. now owns 15,592 shares of the company's stock valued at $48,000 after purchasing an additional 4,429 shares during the period. Oregon Public Employees Retirement Fund boosted its stake in shares of Wolfspeed by 18.7% during the first quarter. Oregon Public Employees Retirement Fund now owns 35,600 shares of the company's stock valued at $109,000 after purchasing an additional 5,600 shares during the period. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Wolfspeed by 40.3% during the first quarter. PNC Financial Services Group Inc. now owns 21,885 shares of the company's stock valued at $67,000 after purchasing an additional 6,287 shares during the period.

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.

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