Wolfspeed (WOLF) to Release Earnings on Wednesday

Wolfspeed (NYSE:WOLF - Get Free Report) is projected to release its earnings data 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. Investors interested in participating in the company's conference call can do so using this link.

Wolfspeed Trading Down 1.5 %

Wolfspeed stock traded down $0.10 during midday trading on Wednesday, reaching $6.19. The stock had a trading volume of 10,440,019 shares, compared to its average volume of 20,658,359. The company has a quick ratio of 2.54, a current ratio of 3.14 and a debt-to-equity ratio of 9.82. The firm has a market cap of $789.89 million, a price-to-earnings ratio of -1.04 and a beta of 1.43. Wolfspeed has a 52-week low of $4.66 and a 52-week high of $37.29. The company has a fifty day moving average of $7.60 and a 200 day moving average of $11.41.

Insider Transactions at Wolfspeed

In other Wolfspeed news, Director Darren R. Jackson purchased 36,975 shares of the stock in a transaction on Wednesday, November 20th. The stock was acquired at an average price of $6.76 per share, with a total value of $249,951.00. Following the completion of the acquisition, the director now owns 85,996 shares in the company, valued at $581,332.96. The trade was a 75.43 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Glenda Dorchak acquired 3,592 shares of the firm's stock in a transaction that occurred on Friday, November 22nd. The stock was bought at an average cost of $8.33 per share, with a total value of $29,921.36. Following the completion of the transaction, the director now directly owns 18,688 shares in the company, valued at $155,671.04. The trade was a 23.79 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders purchased 78,067 shares of company stock valued at $524,747. Corporate insiders own 0.84% of the company's stock.

Wall Street Analysts Forecast Growth

WOLF has been the topic of several research analyst reports. JPMorgan Chase & Co. cut their price objective on Wolfspeed from $20.00 to $17.00 and set a "neutral" rating on the stock in a research report on Thursday, November 7th. StockNews.com upgraded shares of Wolfspeed to a "sell" rating in a report on Monday, January 6th. Susquehanna decreased their price objective on shares of Wolfspeed from $11.00 to $7.00 and set a "neutral" rating for the company in a report on Wednesday. The Goldman Sachs Group dropped their target price on shares of Wolfspeed from $19.00 to $17.00 and set a "buy" rating on the stock in a research note on Thursday, January 16th. Finally, Mizuho reduced their target price on shares of Wolfspeed from $10.00 to $6.00 and set an "underperform" rating on the stock in a research report on Tuesday, November 19th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $16.79.

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.