Wolfspeed (WOLF) to Release Quarterly Earnings on Wednesday

Wolfspeed (NYSE:WOLF) is anticipated to issue its quarterly earnings data after the market closes on Wednesday, January 29th. Analysts expect the company to announce earnings of ($0.90) per share and revenue of $188,250.00 billion for the quarter. Parties that are interested in participating in the company’s conference call can do so using this link.

Wolfspeed Price Performance

Shares of WOLF stock opened at $6.28 on Wednesday. Wolfspeed has a 52-week low of $4.66 and a 52-week high of $37.29. The company has a debt-to-equity ratio of 9.82, a quick ratio of 2.54 and a current ratio of 3.14. The firm has a market capitalization of $801.38 million, a P/E ratio of -1.05 and a beta of 1.43. The stock has a 50 day moving average price of $7.60 and a 200 day moving average price of $11.41.

Analyst Ratings Changes

WOLF has been the subject of a number of research analyst reports. Morgan Stanley raised their price target on Wolfspeed from $10.00 to $15.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Mizuho decreased their price target on Wolfspeed from $10.00 to $6.00 and set an “underperform” rating for the company in a research note on Tuesday, November 19th. Canaccord Genuity Group decreased their target price on Wolfspeed from $25.00 to $18.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. The Goldman Sachs Group decreased their target price on Wolfspeed from $19.00 to $17.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $18.00 target price (down from $20.00) on shares of Wolfspeed in a research report on Thursday, November 7th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $17.07.

Insider Buying and Selling

In other Wolfspeed news, Chairman Thomas H. Werner bought 37,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The shares were purchased at an average cost of $6.53 per share, for a total transaction of $244,875.00. Following the purchase, the chairman now directly owns 108,549 shares in the company, valued at $708,824.97. This represents a 52.78 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Glenda Dorchak purchased 3,592 shares of the stock in a transaction on Friday, November 22nd. The shares were purchased at an average cost of $8.33 per share, with a total value of $29,921.36. Following the transaction, the director now owns 18,688 shares in the company, valued at $155,671.04. This trade represents a 23.79 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 78,067 shares of company stock worth $524,747 in the last ninety days. 0.84% of the stock is owned by insiders.

About Wolfspeed

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.