Analysts Set Wolfspeed, Inc. (NYSE:WOLF) PT at $14.86

Wolfspeed, Inc. (NYSE:WOLF - Get Free Report) has received an average recommendation of "Hold" from the sixteen research firms that are currently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $14.86.

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Several equities research analysts recently commented on WOLF shares. Piper Sandler cut their target price on Wolfspeed from $18.00 to $10.00 and set an "overweight" rating on the stock in a research report on Thursday, January 30th. The Goldman Sachs Group cut their price target on Wolfspeed from $17.00 to $15.00 and set a "buy" rating on the stock in a report on Thursday, January 30th. Bank of America lowered their price objective on shares of Wolfspeed from $9.50 to $6.00 and set an "underperform" rating for the company in a research note on Thursday, January 30th. Canaccord Genuity Group cut their target price on shares of Wolfspeed from $18.00 to $10.00 and set a "buy" rating on the stock in a research note on Thursday, January 30th. Finally, Mizuho reduced their price target on shares of Wolfspeed from $10.00 to $6.00 and set an "underperform" rating for the company in a report on Tuesday, November 19th.

Check Out Our Latest Stock Analysis on Wolfspeed

Institutional Trading of Wolfspeed

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Institutional investors and hedge funds have recently modified their holdings of the stock. Creative Planning purchased a new position in shares of Wolfspeed during the third quarter valued at approximately $224,000. Louisiana State Employees Retirement System grew its stake in shares of Wolfspeed by 70.8% in the 3rd quarter. Louisiana State Employees Retirement System now owns 60,800 shares of the company's stock worth $590,000 after acquiring an additional 25,200 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in shares of Wolfspeed by 430.5% in the third quarter. State of Alaska Department of Revenue now owns 71,819 shares of the company's stock valued at $696,000 after purchasing an additional 58,282 shares during the last quarter. New York State Teachers Retirement System lifted its position in shares of Wolfspeed by 1.3% during the third quarter. New York State Teachers Retirement System now owns 145,284 shares of the company's stock valued at $1,409,000 after purchasing an additional 1,885 shares in the last quarter. Finally, Iridian Asset Management LLC CT boosted its holdings in Wolfspeed by 319.9% during the third quarter. Iridian Asset Management LLC CT now owns 521,158 shares of the company's stock worth $5,055,000 after purchasing an additional 397,057 shares during the last quarter.

Wolfspeed Stock Performance

NYSE:WOLF opened at $5.78 on Wednesday. The company has a market capitalization of $738.56 million, a PE ratio of -0.75 and a beta of 1.43. Wolfspeed has a fifty-two week low of $4.66 and a fifty-two week high of $30.86. The company has a debt-to-equity ratio of 17.26, a quick ratio of 2.47 and a current ratio of 3.15. The company has a 50 day simple moving average of $6.32 and a two-hundred day simple moving average of $8.96.

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Wolfspeed (NYSE:WOLF - Get Free Report) last released its earnings results on Wednesday, January 29th. The company reported ($1.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.90) by ($0.20). Wolfspeed had a negative net margin of 125.96% and a negative return on equity of 70.84%. Research analysts anticipate that Wolfspeed will post -4 earnings per share for the current year.

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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