Wolfspeed, Inc. (NYSE:WOLF) Given Average Rating of “Hold” by Analysts

Shares of Wolfspeed, Inc. (NYSE:WOLF) have been assigned an average recommendation of “Hold” from the sixteen brokerages that are currently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $14.86.

WOLF has been the subject of several research analyst reports. The Goldman Sachs Group reduced their target price on shares of Wolfspeed from $17.00 to $15.00 and set a “buy” rating for the company in a report on Thursday, January 30th. Roth Mkm reduced their target price on shares of Wolfspeed from $25.00 to $20.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Susquehanna reduced their target price on shares of Wolfspeed from $11.00 to $7.00 and set a “neutral” rating for the company in a report on Wednesday, January 22nd. StockNews.com upgraded shares of Wolfspeed to a “sell” rating in a research note on Monday, January 6th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Wolfspeed from $20.00 to $17.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th.

Wolfspeed Stock Performance

Shares of WOLF stock opened at $5.78 on Wednesday. The company has a market capitalization of $738.56 million, a price-to-earnings ratio of -0.75 and a beta of 1.43. The company has a debt-to-equity ratio of 17.26, a quick ratio of 2.47 and a current ratio of 3.15. The company has a 50-day simple moving average of $6.30 and a 200 day simple moving average of $8.88. Wolfspeed has a 52 week low of $4.66 and a 52 week high of $30.86.

Wolfspeed (NYSE:WOLF) last announced its earnings results on Wednesday, January 29th. The company reported ($1.10) EPS for the quarter, missing the consensus estimate of ($0.90) by ($0.20). Wolfspeed had a negative return on equity of 70.84% and a negative net margin of 125.96%. On average, sell-side analysts predict that Wolfspeed will post -4 earnings per share for the current year.

Hedge Funds Weigh In On Wolfspeed

Several hedge funds and other institutional investors have recently made changes to their positions in WOLF. Jones Financial Companies Lllp raised its position in shares of Wolfspeed by 1,240.6% in the 4th quarter. Jones Financial Companies Lllp now owns 3,834 shares of the company’s stock valued at $26,000 after buying an additional 3,548 shares in the last quarter. R Squared Ltd acquired a new position in shares of Wolfspeed in the 4th quarter valued at approximately $28,000. Steward Partners Investment Advisory LLC raised its position in shares of Wolfspeed by 192.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,429 shares of the company’s stock valued at $29,000 after buying an additional 2,912 shares in the last quarter. KBC Group NV raised its position in shares of Wolfspeed by 76.5% in the 4th quarter. KBC Group NV now owns 6,064 shares of the company’s stock valued at $40,000 after buying an additional 2,629 shares in the last quarter. Finally, Allworth Financial LP grew its holdings in shares of Wolfspeed by 38.1% during the 4th quarter. Allworth Financial LP now owns 7,060 shares of the company’s stock valued at $44,000 after purchasing an additional 1,949 shares during the last quarter.

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.