Wolfspeed (NYSE:WOLF) Shares Down 5.8% - Here's What Happened

Key Points

• Shares of Wolfspeed fell 5.8% to about $21.45 on Wednesday, with volume down roughly 84% from the average and a market capitalization near $545 million.
• Analysts are mixed but cautious — MarketBeat shows a consensus rating of "Reduce" and a $10.50 average price target, while individual notes include 3 Buys, 1 Hold and 4 Sells.
• Wolfspeed slightly beat quarterly estimates (EPS -$0.63 vs -$0.68; revenue $196.8M vs $195.4M), yet analysts still expect a significantly negative full‑year EPS (around -4), indicating ongoing losses despite the beat.

Shares of Wolfspeed, Inc. (NYSE:WOLF - Get Free Report) traded down 5.8% on Wednesday . The stock traded as low as $21.36 and last traded at $21.4450. 617,601 shares changed hands during trading, a decline of 84% from the average session volume of 3,797,668 shares. The stock had previously closed at $22.76.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on WOLF shares. Susquehanna lifted their target price on Wolfspeed to $30.00 and gave the stock a "neutral" rating in a report on Wednesday, October 22nd. Weiss Ratings reiterated a "sell (e+)" rating on shares of Wolfspeed in a research note on Saturday, September 27th. Finally, Wall Street Zen raised shares of Wolfspeed to a "hold" rating in a report on Saturday, November 22nd. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and four have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Reduce" and a consensus price target of $10.50.

Wolfspeed Stock Down 7.5%

The firm has a 50 day simple moving average of $24.30 and a two-hundred day simple moving average of $9.84. The stock has a market capitalization of $545.26 million and a P/E ratio of -33.35.

Wolfspeed (NYSE:WOLF - Get Free Report) last announced its quarterly earnings data on Wednesday, October 29th. The company reported ($0.63) earnings per share for the quarter, topping the consensus estimate of ($0.68) by $0.05. The business had revenue of $196.80 million for the quarter, compared to the consensus estimate of $195.37 million. On average, research analysts predict that Wolfspeed, Inc. will post -4 earnings per share for the current year.

Hedge Funds Weigh In On Wolfspeed

Several institutional investors and hedge funds have recently added to or reduced their stakes in WOLF. Vanguard Group Inc. grew its stake in shares of Wolfspeed by 18.8% during the first quarter. Vanguard Group Inc. now owns 18,913,793 shares of the company's stock worth $57,876,000 after buying an additional 2,989,503 shares during the last quarter. Capital Research Global Investors acquired a new stake in shares of Wolfspeed during the 3rd quarter valued at $79,426,000. Two Seas Capital LP bought a new stake in Wolfspeed during the 2nd quarter worth $962,000. Shah Capital Management acquired a new position in Wolfspeed in the 1st quarter worth about $6,586,000. Finally, Neuberger Berman Group LLC raised its position in Wolfspeed by 72.7% in the first quarter. Neuberger Berman Group LLC now owns 4,329,584 shares of the company's stock valued at $13,723,000 after purchasing an additional 1,822,958 shares during 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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