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

Shares of Wolfspeed, Inc. (NYSE:WOLF) have been assigned a consensus rating of “Hold” from the sixteen research firms that are covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and four have issued a buy recommendation on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $14.86.

A number of brokerages have recently weighed in on WOLF. Piper Sandler cut their price objective on Wolfspeed from $18.00 to $10.00 and set an “overweight” rating on the stock in a research report on Thursday. StockNews.com raised Wolfspeed to a “sell” rating in a research note on Monday, January 6th. Bank of America reduced their price objective on shares of Wolfspeed from $9.50 to $6.00 and set an “underperform” rating on the stock in a research report on Thursday. Canaccord Genuity Group dropped their target price on shares of Wolfspeed from $18.00 to $10.00 and set a “buy” rating for the company in a research report on Thursday. Finally, The Goldman Sachs Group reduced their price target on shares of Wolfspeed from $17.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday.

Wolfspeed Stock Up 0.3 %

Shares of Wolfspeed stock opened at $6.11 on Friday. The company’s 50 day moving average price is $7.44 and its 200-day moving average price is $10.58. Wolfspeed has a 52-week low of $4.66 and a 52-week high of $34.63. 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 stock has a market capitalization of $779.94 million, a price-to-earnings ratio of -0.80 and a beta of 1.43.

Wolfspeed (NYSE:WOLF) last released its quarterly earnings data on Wednesday, January 29th. The company reported ($1.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.90) by ($0.20). Wolfspeed had a negative net margin of 125.96% and a negative return on equity of 60.94%. Equities research analysts forecast that Wolfspeed will post -4.2 EPS for the current year.

Insider Buying and Selling at Wolfspeed

In other Wolfspeed news, Director Glenda Dorchak purchased 3,592 shares of the stock in a transaction dated 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 completion of the acquisition, the director now directly owns 18,688 shares in the company, valued at $155,671.04. This trade represents a 23.79 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Thomas H. Werner acquired 37,500 shares of Wolfspeed 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 acquisition, the chairman now directly owns 108,549 shares in the company, valued at $708,824.97. This represents a 52.78 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 78,067 shares of company stock worth $524,747. 0.84% of the stock is owned by corporate insiders.

Institutional Trading of Wolfspeed

Institutional investors have recently made changes to their positions in the stock. Vontobel Holding Ltd. increased its position in Wolfspeed by 5.1% during the third quarter. Vontobel Holding Ltd. now owns 37,565 shares of the company’s stock valued at $364,000 after acquiring an additional 1,835 shares during the last quarter. New York State Teachers Retirement System grew its stake in shares of Wolfspeed by 1.3% during the 3rd quarter. New York State Teachers Retirement System now owns 145,284 shares of the company’s stock valued at $1,409,000 after purchasing an additional 1,885 shares during the period. Allworth Financial LP increased its position 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. KBC Group NV lifted its stake in shares of Wolfspeed by 76.5% in the 4th quarter. KBC Group NV now owns 6,064 shares of the company’s stock worth $40,000 after purchasing an additional 2,629 shares during the period. Finally, Eastern Bank purchased a new position in shares of Wolfspeed in the third quarter worth approximately $27,000.

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.