Susquehanna Trims Wolfspeed (NYSE:WOLF) Target Price to $25.00

Wolfspeed (NYSE:WOLF) had its price objective dropped by equities researchers at Susquehanna from $35.00 to $25.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Susquehanna’s target price indicates a potential upside of 4.47% from the company’s previous close.

WOLF has been the topic of a number of other reports. JPMorgan Chase & Co. lowered their price objective on Wolfspeed from $43.00 to $35.00 and set a “neutral” rating on the stock in a research report on Thursday, April 11th. Piper Sandler reduced their price objective on shares of Wolfspeed from $55.00 to $45.00 and set an “overweight” rating for the company in a report on Thursday, February 1st. Mizuho initiated coverage on Wolfspeed in a research note on Friday, April 5th. They issued a “neutral” rating and a $30.00 price objective on the stock. Finally, Wells Fargo & Company reissued an “equal weight” rating and set a $30.00 price objective (down from $55.00) on shares of Wolfspeed in a report on Wednesday, April 3rd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $43.00.

Wolfspeed Stock Performance

WOLF opened at $23.93 on Tuesday. The stock has a 50-day moving average of $26.81 and a 200-day moving average of $32.53. The company has a debt-to-equity ratio of 4.50, a quick ratio of 4.58 and a current ratio of 5.13. Wolfspeed has a 52-week low of $21.85 and a 52-week high of $70.42. The company has a market cap of $3.01 billion, a PE ratio of -3.94 and a beta of 1.66.

Wolfspeed (NYSE:WOLF) last issued its quarterly earnings results on Wednesday, January 31st. The company reported ($0.69) EPS for the quarter, topping analysts’ consensus estimates of ($0.79) by $0.10. Wolfspeed had a negative return on equity of 19.35% and a negative net margin of 87.35%. The company had revenue of $208.40 million during the quarter, compared to analyst estimates of $205.94 million. As a group, equities research analysts forecast that Wolfspeed will post -3.05 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Wolfspeed news, Director Darren R. Jackson bought 10,000 shares of Wolfspeed stock in a transaction dated Friday, February 2nd. The shares were bought at an average price of $25.80 per share, with a total value of $258,000.00. Following the purchase, the director now owns 49,021 shares of the company’s stock, valued at $1,264,741.80. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.85% of the company’s stock.

Institutional Investors Weigh In On Wolfspeed

Institutional investors have recently made changes to their positions in the stock. TFO Wealth Partners LLC grew its position in shares of Wolfspeed by 57,400.0% during the 4th quarter. TFO Wealth Partners LLC now owns 575 shares of the company’s stock worth $25,000 after buying an additional 574 shares during the period. Independence Bank of Kentucky increased its stake in Wolfspeed by 97.0% in the fourth quarter. Independence Bank of Kentucky now owns 711 shares of the company’s stock valued at $31,000 after purchasing an additional 350 shares in the last quarter. Rakuten Securities Inc. acquired a new stake in Wolfspeed in the fourth quarter worth $48,000. GAMMA Investing LLC bought a new position in shares of Wolfspeed during the fourth quarter worth $56,000. Finally, Aspire Private Capital LLC acquired a new position in shares of Wolfspeed in the 3rd quarter valued at $76,000.

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.