Wolfspeed (NYSE:WOLF) Raised to "Hold" at Wall Street Zen

Key Points

• Wolfspeed (NYSE:WOLF) has been upgraded from a "sell" to a "hold" rating by analysts at Wall Street Zen.
• Despite the upgrade, Weiss Ratings maintained a "sell" rating for the company, indicating a divided opinion among analysts.
• The average price target for Wolfspeed shares currently stands at $9.22, with a market cap of approximately $806.21 million.

Wolfspeed (NYSE:WOLF - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report released on Saturday.

Separately, Weiss Ratings restated a "sell (e+)" rating on shares of Wolfspeed in a report on Saturday, September 27th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Reduce" and an average price target of $9.22.

Wolfspeed Price Performance

Shares of NYSE:WOLF opened at $31.20 on Friday. Wolfspeed has a 1 year low of $8.05 and a 1 year high of $36.60. The company has a market cap of $806.21 million and a PE ratio of -2.77. The stock's 50-day moving average is $9.88 and its 200 day moving average is $4.73.

Institutional Trading of Wolfspeed

Large investors have recently bought and sold shares of the company. N.E.W. Advisory Services LLC bought a new stake in Wolfspeed during the 1st quarter valued at approximately $28,000. Wealthfront Advisers LLC bought a new stake in Wolfspeed during the 1st quarter valued at approximately $32,000. MAI Capital Management boosted its position in Wolfspeed by 894.9% during the 1st quarter. MAI Capital Management now owns 10,815 shares of the company's stock valued at $33,000 after acquiring an additional 9,728 shares in the last quarter. Twin Tree Management LP bought a new stake in Wolfspeed during the 1st quarter valued at approximately $42,000. Finally, Quarry LP boosted its position in Wolfspeed by 490.0% during the 1st quarter. Quarry LP now owns 14,991 shares of the company's stock valued at $46,000 after acquiring an additional 12,450 shares in the last quarter.

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.

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