Wolfspeed (NYSE:WOLF) Price Target Cut to $27.00

Wolfspeed (NYSE:WOLF) had its price objective trimmed by Mizuho from $30.00 to $27.00 in a research report report published on Thursday morning, Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other research firms also recently commented on WOLF. Roth Mkm reiterated a buy rating and set a $50.00 price objective on shares of Wolfspeed in a research note on Tuesday, April 30th. JPMorgan Chase & Co. reduced their price objective on shares of Wolfspeed from $43.00 to $35.00 and set a neutral rating on the stock in a research note on Thursday, April 11th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Wolfspeed from $35.00 to $30.00 and set a hold rating on the stock in a research note on Tuesday, April 23rd. TD Cowen downgraded shares of Wolfspeed from a buy rating to a hold rating and reduced their price objective for the company from $40.00 to $25.00 in a research note on Thursday. Finally, Wells Fargo & Company reissued an equal weight rating and set a $30.00 target price (down from $55.00) on shares of Wolfspeed in a report on Wednesday, April 3rd. One analyst has rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $37.27.

Wolfspeed Price Performance

Shares of WOLF stock opened at $25.33 on Thursday. The company has a market capitalization of $3.19 billion, a PE ratio of -3.92 and a beta of 1.64. The firm has a fifty day simple moving average of $26.61 and a 200-day simple moving average of $32.02. The company has a current ratio of 4.58, a quick ratio of 4.58 and a debt-to-equity ratio of 5.55. Wolfspeed has a twelve month low of $20.63 and a twelve month high of $70.42.

Wolfspeed (NYSE:WOLF) last posted its quarterly earnings data on Wednesday, January 31st. The company reported ($0.69) EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $208.40 million for the quarter, compared to the consensus estimate of $205.94 million. Equities research analysts anticipate that Wolfspeed will post -3.05 earnings per share for the current fiscal year.

Institutional Trading of Wolfspeed

Large investors have recently modified their holdings of the company. TFO Wealth Partners LLC increased its holdings in shares of Wolfspeed by 57,400.0% in the 4th quarter. TFO Wealth Partners LLC now owns 575 shares of the company’s stock worth $25,000 after acquiring an additional 574 shares during the period. Independence Bank of Kentucky increased its holdings in shares of 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 period. Rakuten Securities Inc. acquired a new stake in shares of Wolfspeed in the 4th quarter worth about $48,000. Fifth Third Bancorp increased 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 worth $37,000 after acquiring an additional 452 shares during the period. Finally, GAMMA Investing LLC acquired a new stake in shares of Wolfspeed in the 4th quarter worth about $56,000.

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.