Wolfspeed (WOLF) Expected to Announce Quarterly Earnings on Wednesday

Wolfspeed (NYSE:WOLF - Get Free Report) is expected to post its quarterly earnings results after the market closes on Wednesday, January 29th. Analysts expect Wolfspeed to post earnings of ($0.90) per share and revenue of $188,250.00 billion for the quarter. Parties interested in listening to the company's conference call can do so using this link.

Wolfspeed Price Performance

Shares of NYSE WOLF traded down $0.62 during mid-day trading on Monday, reaching $6.06. The company had a trading volume of 17,403,746 shares, compared to its average volume of 19,522,131. Wolfspeed has a 1-year low of $4.66 and a 1-year high of $35.41. The stock has a market cap of $773.28 million, a PE ratio of -1.02 and a beta of 1.43. The company has a current ratio of 3.14, a quick ratio of 2.54 and a debt-to-equity ratio of 9.82. The company has a 50-day moving average price of $7.51 and a two-hundred day moving average price of $10.91.

Analysts Set New Price Targets

WOLF has been the subject of several recent analyst reports. Susquehanna decreased their target price on Wolfspeed from $11.00 to $7.00 and set a "neutral" rating for the company in a research report on Wednesday, January 22nd. Canaccord Genuity Group decreased their price objective on Wolfspeed from $25.00 to $18.00 and set a "buy" rating for the company in a research report on Thursday, November 7th. Mizuho dropped their target price on Wolfspeed from $10.00 to $6.00 and set an "underperform" rating on the stock in a report on Tuesday, November 19th. Piper Sandler reiterated an "overweight" rating and set a $18.00 price objective (down from $20.00) on shares of Wolfspeed in a report on Thursday, November 7th. Finally, StockNews.com upgraded Wolfspeed to a "sell" rating in a research note on Monday, January 6th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Wolfspeed currently has an average rating of "Hold" and an average price target of $16.79.

Insider Buying and Selling

In related news, Director Darren R. Jackson acquired 36,975 shares of the stock in a transaction dated Wednesday, November 20th. The shares were acquired at an average price of $6.76 per share, for a total transaction of $249,951.00. Following the completion of the purchase, the director now owns 85,996 shares in the company, valued at approximately $581,332.96. The trade was a 75.43 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Thomas H. Werner bought 37,500 shares of the company's stock in a transaction that occurred on Wednesday, November 20th. The shares were bought at an average cost of $6.53 per share, for a total transaction of $244,875.00. Following the transaction, the chairman now directly owns 108,549 shares of the company's stock, valued at $708,824.97. This trade represents a 52.78 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders bought 78,067 shares of company stock valued at $524,747. Company insiders own 0.84% of the company's stock.

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.