Wolfspeed (NYSE:WOLF) Price Target Cut to $25.00 by Analysts at Deutsche Bank Aktiengesellschaft

Wolfspeed (NYSE:WOLF) had its price target decreased by equities researchers at Deutsche Bank Aktiengesellschaft from $30.00 to $25.00 in a research report issued on Tuesday, Benzinga reports. The brokerage currently has a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft’s target price suggests a potential upside of 2.54% from the company’s previous close.

Other analysts also recently issued reports about the stock. TD Cowen downgraded shares of Wolfspeed from a “buy” rating to a “hold” rating and dropped their target price for the stock from $40.00 to $25.00 in a report on Thursday, May 2nd. Roth Mkm restated a “buy” rating and set a $50.00 target price on shares of Wolfspeed in a report on Tuesday, April 30th. Canaccord Genuity Group decreased their price target on shares of Wolfspeed from $50.00 to $47.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $30.00 price target (down from $55.00) on shares of Wolfspeed in a research note on Wednesday, April 3rd. Finally, Susquehanna decreased their price target on shares of Wolfspeed from $25.00 to $23.00 and set a “neutral” rating for the company in a research note on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Wolfspeed currently has an average rating of “Hold” and an average target price of $36.93.

Wolfspeed Stock Performance

Shares of WOLF stock opened at $24.38 on Tuesday. The company has a debt-to-equity ratio of 5.55, a quick ratio of 4.00 and a current ratio of 4.58. The company has a market capitalization of $3.07 billion, a P/E ratio of -3.77 and a beta of 1.64. The company’s 50 day moving average price is $26.56 and its two-hundred day moving average price is $31.84. Wolfspeed has a 52 week low of $20.63 and a 52 week high of $70.42.

Hedge Funds Weigh In On Wolfspeed

Hedge funds and other institutional investors have recently made changes to their positions in the company. TFO Wealth Partners LLC grew its stake 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 valued at $25,000 after buying an additional 574 shares in the last quarter. Independence Bank of Kentucky lifted its holdings in Wolfspeed by 97.0% during the 4th quarter. Independence Bank of Kentucky now owns 711 shares of the company’s stock valued at $31,000 after purchasing an additional 350 shares during the last quarter. Fifth Third Bancorp lifted its holdings in Wolfspeed by 56.9% during the 1st quarter. Fifth Third Bancorp now owns 1,246 shares of the company’s stock valued at $37,000 after purchasing an additional 452 shares during the last quarter. Rakuten Securities Inc. acquired a new stake in Wolfspeed during the 4th quarter valued at $48,000. Finally, GAMMA Investing LLC acquired a new stake in Wolfspeed during the 4th quarter valued at $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.