Wolfspeed, Inc. (WOLF) – What Are Analysts Saying About This Stock?

Shares of Wolfspeed, Inc. (NYSE:WOLF) have been assigned a consensus recommendation of “Hold” from the five research firms that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $23.33.

WOLF has been the subject of several research analyst reports. Weiss Ratings lowered shares of Wolfspeed from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, October 23rd. TD Cowen started coverage on shares of Wolfspeed in a research note on Thursday, August 20th. They set a “hold” rating and a $25.00 price target on the stock. Zacks Research upgraded shares of Wolfspeed to a “hold” rating in a report on Friday, September 25th. Wall Street Zen cut shares of Wolfspeed from a “sell” rating to a “strong sell” rating in a research note on Saturday, September 19th. Finally, Susquehanna dropped their price objective on Wolfspeed from $30.00 to $25.00 and set a “neutral” rating for the company in a report on Wednesday, October 21st.

Wolfspeed Price Performance

NYSE WOLF opened at $20.80 on Tuesday. Wolfspeed has a 12 month low of $13.48 and a 12 month high of $80.82. The company has a 50-day moving average of $26.58 and a 200-day moving average of $30.15. The company has a market cap of $1.10 billion and a P/E ratio of -1.32.

Wolfspeed (NYSE:WOLF) last announced its quarterly earnings data on Wednesday, August 19th. The company reported ($2.26) earnings per share for the quarter, topping the consensus estimate of ($2.45) by $0.19. The company had revenue of $149.60 million for the quarter, compared to analysts’ expectations of $150.00 million. During the same quarter in the previous year, the company earned ($0.77) earnings per share. The company’s revenue was down 24.1% on a year-over-year basis. As a group, equities research analysts anticipate that Wolfspeed will post -8.27 EPS for the current year.

Institutional Investors Weigh In On Wolfspeed

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Renesas Electronics America Inc. purchased a new position in shares of Wolfspeed in the 2nd quarter worth about $813,126,949. Brooklands Fund Management Ltd acquired a new position in shares of Wolfspeed in the 3rd quarter valued at about $25,376,000. Panview Capital Ltd acquired a new position in shares of Wolfspeed in the 2nd quarter valued at about $6,952,000. Readystate Asset Management LP purchased a new stake in shares of Wolfspeed during the 2nd quarter worth about $6,841,000. Finally, Lazard Asset Management LLC purchased a new stake in shares of Wolfspeed during the 1st quarter worth about $1,796,000.

About Wolfspeed

Wolfspeed, Inc is a semiconductor company focused on silicon carbide (SiC) technologies. Its products are designed to support the conversion and management of electrical power in applications that require high efficiency, high voltage, and operation at elevated temperatures.

The company develops and manufactures SiC power devices, including metal-oxide-semiconductor field-effect transistors, diodes, power modules, and related components. It also produces SiC materials such as wafers and epitaxial substrates used by semiconductor manufacturers.