Wolfspeed, Inc. (NYSE:WOLF) Receives Consensus Rating of “Hold” from Brokerages

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

Several research firms have recently issued reports on WOLF. Roth Mkm reduced their target price on Wolfspeed from $25.00 to $20.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Piper Sandler reduced their price objective on Wolfspeed from $18.00 to $10.00 and set an “overweight” rating on the stock in a research note on Thursday, January 30th. StockNews.com raised Wolfspeed to a “sell” rating in a research note on Monday, January 6th. JPMorgan Chase & Co. reduced their price objective on Wolfspeed from $20.00 to $17.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. Finally, Mizuho reduced their price objective on Wolfspeed from $10.00 to $6.00 and set an “underperform” rating on the stock in a research note on Tuesday, November 19th.

Hedge Funds Weigh In On Wolfspeed

A number of hedge funds have recently made changes to their positions in the stock. New York State Teachers Retirement System raised its position in shares of Wolfspeed by 1.3% during the third quarter. New York State Teachers Retirement System now owns 145,284 shares of the company’s stock worth $1,409,000 after acquiring an additional 1,885 shares during the last quarter. Allworth Financial LP raised its position in shares of Wolfspeed by 38.1% during the fourth quarter. Allworth Financial LP now owns 7,060 shares of the company’s stock worth $44,000 after acquiring an additional 1,949 shares during the last quarter. Sterling Capital Management LLC raised its position in shares of Wolfspeed by 51.4% during the fourth quarter. Sterling Capital Management LLC now owns 7,463 shares of the company’s stock worth $50,000 after acquiring an additional 2,533 shares during the last quarter. Ground Swell Capital LLC raised its position in shares of Wolfspeed by 25.6% during the fourth quarter. Ground Swell Capital LLC now owns 12,827 shares of the company’s stock worth $85,000 after acquiring an additional 2,611 shares during the last quarter. Finally, KBC Group NV raised its position in shares of Wolfspeed by 76.5% during the fourth quarter. KBC Group NV now owns 6,064 shares of the company’s stock worth $40,000 after acquiring an additional 2,629 shares during the last quarter.

Wolfspeed Stock Performance

WOLF opened at $5.74 on Wednesday. The firm has a market cap of $732.43 million, a P/E ratio of -0.75 and a beta of 1.43. Wolfspeed has a 52-week low of $4.66 and a 52-week high of $30.86. 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 business’s fifty day moving average is $6.37 and its 200-day moving average is $9.01.

Wolfspeed (NYSE:WOLF) last released its earnings results on Wednesday, January 29th. The company reported ($1.10) earnings per share (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%. Sell-side analysts expect that Wolfspeed will post -4 EPS for the current fiscal year.

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.