Wolfspeed (NYSE:WOLF) Price Target Lowered to $20.00 at Susquehanna

Wolfspeed (NYSE:WOLF) had its price objective reduced by Susquehanna from $30.00 to $20.00 in a research report report published on Thursday, MarketBeat Ratings reports. They currently have a neutral rating on the stock.

Other equities research analysts have also issued research reports about the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Wolfspeed in a research report on Monday, December 29th. Wall Street Zen upgraded shares of Wolfspeed to a “hold” rating in a research report on Saturday, November 22nd. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $8.83.

Wolfspeed Price Performance

NYSE WOLF opened at $19.05 on Thursday. The business’s fifty day moving average price is $19.21 and its 200-day moving average price is $13.64. The stock has a market capitalization of $493.20 million and a price-to-earnings ratio of -30.24. Wolfspeed has a 1-year low of $8.05 and a 1-year high of $36.60.

Wolfspeed (NYSE:WOLF) last issued its quarterly earnings data on Wednesday, October 29th. The company reported ($0.63) EPS for the quarter, topping the consensus estimate of ($0.68) by $0.05. The firm had revenue of $196.80 million during the quarter, compared to the consensus estimate of $195.37 million. Equities research analysts anticipate that Wolfspeed will post -4 EPS for the current year.

Institutional Investors Weigh In On Wolfspeed

Institutional investors have recently added to or reduced their stakes in the stock. Andar Capital Management HK Ltd purchased a new stake in Wolfspeed during the third quarter worth approximately $48,000. Eastern Bank purchased a new position in Wolfspeed in the fourth quarter valued at approximately $46,000. Capital Investment Advisory Services LLC raised its holdings in Wolfspeed by 13.3% during the fourth quarter. Capital Investment Advisory Services LLC now owns 15,174 shares of the company’s stock worth $264,000 after purchasing an additional 1,783 shares in the last quarter. Polymer Capital Management HK LTD acquired a new stake in Wolfspeed during the third quarter worth approximately $582,000. Finally, Mariner Investment Group LLC purchased a new stake in shares of Wolfspeed during the 3rd quarter worth approximately $715,000.

About Wolfspeed

Wolfspeed, Inc (NYSE: WOLF) is a leading developer and manufacturer of silicon carbide (SiC) and gallium nitride (GaN) semiconductor materials and devices. The company’s product portfolio addresses high-growth markets such as electric vehicles, renewable energy, fast-charging infrastructure, aerospace and defense, and telecommunications. By leveraging proprietary materials and device designs, Wolfspeed delivers solutions that offer improved energy efficiency, higher power density and greater thermal performance compared to conventional silicon-based semiconductors.

Founded as part of Cree, Inc and spun off to form an independent public company in October 2021, Wolfspeed traces its roots to the mid-1980s when it pioneered the commercial use of wide-bandgap semiconductor technology.