Wolfspeed (NYSE:WOLF – Get Free Report) is projected to post its quarterly earnings results after the market closes on Wednesday, January 29th. Analysts expect Wolfspeed to post earnings of ($0.90) per share and revenue of $188,250.00 billion for the quarter. Individual that are interested in registering for the company’s earnings conference call can do so using this link.
Wolfspeed Stock Performance
NYSE WOLF opened at $6.28 on Wednesday. The stock has a market capitalization of $801.38 million, a price-to-earnings ratio of -1.05 and a beta of 1.43. Wolfspeed has a twelve month low of $4.66 and a twelve month high of $37.29. The company has a current ratio of 3.14, a quick ratio of 2.54 and a debt-to-equity ratio of 9.82. The stock has a 50-day moving average of $7.60 and a 200 day moving average of $11.41.
Analysts Set New Price Targets
A number of equities analysts recently weighed in on the company. Piper Sandler reaffirmed an “overweight” rating and issued a $18.00 price target (down previously from $20.00) on shares of Wolfspeed in a report on Thursday, November 7th. Roth Mkm cut their price objective on Wolfspeed from $25.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Canaccord Genuity Group cut their price objective on Wolfspeed from $25.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. StockNews.com upgraded Wolfspeed to a “sell” rating in a research note on Monday, January 6th. Finally, JPMorgan Chase & Co. cut their price objective on Wolfspeed from $20.00 to $17.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, Wolfspeed currently has an average rating of “Hold” and an average price target of $17.07.
Insider Activity
In other Wolfspeed news, Director Glenda Dorchak acquired 3,592 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was bought at an average cost of $8.33 per share, for a total transaction of $29,921.36. Following the completion of the transaction, the director now owns 18,688 shares of the company’s stock, valued at approximately $155,671.04. The trade was a 23.79 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Thomas H. Werner acquired 37,500 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was acquired at an average price of $6.53 per share, with a total value of $244,875.00. Following the completion of the transaction, the chairman now directly owns 108,549 shares of the company’s stock, valued at $708,824.97. This trade represents a 52.78 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased 78,067 shares of company stock worth $524,747 over the last ninety days. Corporate insiders own 0.84% of the company’s stock.
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.
Recommended Stories
- Five stocks we like better than Wolfspeed
- 3 Grocery Stocks That Can Help Take a Bite Out of Inflation
- SAP’s Strong Momentum: A Bullish Setup for Investors
- What is an Earnings Surprise?
- BlackRock Breaks Records: Why the Stock Still Has Room to Run
- What Percentage Gainers Tell Investors and Why They Don’t Tell the Whole Story
- Duke vs. NRG: Which Energy Stock Will Power Higher Gains?
Receive News & Ratings for Wolfspeed Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wolfspeed and related companies with MarketBeat.com's FREE daily email newsletter.