Zacks: Analysts Expect Wolfspeed, Inc. (NYSE:WOLF) Will Announce Quarterly Sales of $207.58 Million

Equities analysts expect Wolfspeed, Inc. (NYSE:WOLFGet Rating) to report sales of $207.58 million for the current quarter, Zacks reports. Six analysts have made estimates for Wolfspeed’s earnings, with the highest sales estimate coming in at $208.70 million and the lowest estimate coming in at $205.00 million. Wolfspeed posted sales of $145.80 million in the same quarter last year, which suggests a positive year over year growth rate of 42.4%. The company is expected to issue its next earnings report on Monday, January 1st.

On average, analysts expect that Wolfspeed will report full-year sales of $725.95 million for the current year, with estimates ranging from $722.70 million to $729.25 million. For the next financial year, analysts anticipate that the business will post sales of $1.03 billion, with estimates ranging from $948.95 million to $1.09 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Wolfspeed.

Separately, Canaccord Genuity Group dropped their price target on shares of Wolfspeed from $155.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday, January 27th.

NYSE:WOLF opened at $78.07 on Friday. The firm has a 50-day moving average price of $100.46. Wolfspeed has a 1-year low of $63.44 and a 1-year high of $142.33.

About Wolfspeed (Get Rating)

Wolfspeed, Inc provides silicon carbide and gallium nitride (GaN) materials, power devices, and radio frequency (RF) devices based on wide bandgap semiconductor materials and silicon. The company's silicon carbide and GaN materials comprise silicon carbide bare wafers, epitaxial wafers, and GaN epitaxial layers on silicon carbide wafers.

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