Wolfspeed (NYSE:WOLF – Get Free Report) issued an update on its fourth quarter earnings guidance on Monday morning. The company provided earnings per share guidance of $(0.96)-(0.83) for the period, compared to the consensus earnings per share estimate of ($0.78). The company issued revenue guidance of $185-215 million, compared to the consensus revenue estimate of $202.86 million. Wolfspeed also updated its Q4 2024 guidance to -0.960–0.830 EPS.
Wolfspeed Stock Down 2.7 %
Shares of Wolfspeed stock opened at $22.95 on Tuesday. The company has a quick ratio of 4.00, a current ratio of 4.58 and a debt-to-equity ratio of 5.55. Wolfspeed has a 1-year low of $20.63 and a 1-year high of $70.42. The firm’s 50-day moving average price is $25.80 and its two-hundred day moving average price is $29.96.
Wolfspeed (NYSE:WOLF – Get Free Report) last issued its quarterly earnings data on Wednesday, May 1st. The company reported ($0.79) earnings per share for the quarter, topping the consensus estimate of ($0.82) by $0.03. The firm had revenue of $200.70 million for the quarter, compared to analysts’ expectations of $201.49 million. Wolfspeed had a negative net margin of 96.12% and a negative return on equity of 27.37%. On average, sell-side analysts expect that Wolfspeed will post -3.13 EPS for the current year.
Wall Street Analyst Weigh In
Check Out Our Latest Research Report on Wolfspeed
Insider Buying and Selling at Wolfspeed
In other Wolfspeed news, Director Marvin Riley acquired 1,866 shares of Wolfspeed stock in a transaction on Tuesday, May 28th. The shares were purchased at an average cost of $27.05 per share, with a total value of $50,475.30. Following the completion of the purchase, the director now owns 13,297 shares in the company, valued at $359,683.85. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.85% 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.
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