Analysts Set Wolfspeed, Inc. (NYSE:WOLF) Target Price at $41.00

Shares of Wolfspeed, Inc. (NYSE:WOLF) have been assigned an average rating of “Hold” from the fifteen research firms that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $37.27.

WOLF has been the subject of several recent research reports. Citigroup decreased their price objective on Wolfspeed from $29.00 to $25.00 and set a “neutral” rating for the company in a report on Thursday. William Blair downgraded shares of Wolfspeed from an “outperform” rating to a “market perform” rating in a report on Thursday. Wells Fargo & Company reiterated an “equal weight” rating and set a $30.00 price objective (down from $55.00) on shares of Wolfspeed in a report on Wednesday, April 3rd. JPMorgan Chase & Co. decreased their target price on shares of Wolfspeed from $43.00 to $35.00 and set a “neutral” rating for the company in a research report on Thursday, April 11th. Finally, Canaccord Genuity Group dropped their price target on shares of Wolfspeed from $50.00 to $47.00 and set a “buy” rating on the stock in a research report on Thursday.

Institutional Investors Weigh In On Wolfspeed

A number of institutional investors and hedge funds have recently modified their holdings of WOLF. TFO Wealth Partners LLC increased its holdings in shares of Wolfspeed by 57,400.0% in the fourth quarter. TFO Wealth Partners LLC now owns 575 shares of the company’s stock worth $25,000 after purchasing an additional 574 shares during the period. Independence Bank of Kentucky increased its stake in Wolfspeed by 97.0% in the 4th quarter. Independence Bank of Kentucky now owns 711 shares of the company’s stock worth $31,000 after acquiring an additional 350 shares during the last quarter. Fifth Third Bancorp raised its holdings in shares of Wolfspeed by 56.9% in the 1st quarter. Fifth Third Bancorp now owns 1,246 shares of the company’s stock valued at $37,000 after acquiring an additional 452 shares in the last quarter. Rakuten Securities Inc. bought a new stake in shares of Wolfspeed during the 4th quarter valued at about $48,000. Finally, GAMMA Investing LLC bought a new stake in shares of Wolfspeed during the 4th quarter valued at about $56,000.

Wolfspeed Price Performance

Shares of NYSE:WOLF opened at $25.33 on Thursday. The firm has a market cap of $3.19 billion, a PE ratio of -3.92 and a beta of 1.64. Wolfspeed has a 52 week low of $20.63 and a 52 week high of $70.42. The firm’s fifty day moving average is $26.61 and its 200-day moving average is $32.02. The company has a debt-to-equity ratio of 5.55, a quick ratio of 4.58 and a current ratio of 4.58.

Wolfspeed (NYSE:WOLF) last announced its quarterly earnings data on Wednesday, January 31st. The company reported ($0.69) EPS for the quarter, topping the consensus estimate of ($0.79) by $0.10. Wolfspeed had a negative net margin of 96.12% and a negative return on equity of 27.37%. The company had revenue of $208.40 million during the quarter, compared to the consensus estimate of $205.94 million. Sell-side analysts predict that Wolfspeed will post -3.05 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.