Wolfspeed (NYSE:WOLF) PT Lowered to $23.00 at Susquehanna

Wolfspeed (NYSE:WOLF) had its price objective lowered by Susquehanna from $25.00 to $23.00 in a research report released on Thursday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

WOLF has been the topic of several other research reports. Mizuho dropped their price target on shares of Wolfspeed from $30.00 to $27.00 and set a neutral rating on the stock in a research report on Thursday. TD Cowen cut Wolfspeed from a buy rating to a hold rating and dropped their target price for the company from $40.00 to $25.00 in a research report on Thursday. Roth Mkm reaffirmed a buy rating and issued a $50.00 price target on shares of Wolfspeed in a report on Tuesday. William Blair lowered Wolfspeed from an outperform rating to a market perform rating in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on Wolfspeed from $35.00 to $30.00 and set a hold rating for the company in a research report on Tuesday, April 23rd. One research analyst has 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 data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus target price of $37.27.

Wolfspeed Trading Up 7.5 %

Shares of Wolfspeed stock traded up $1.77 on Thursday, reaching $25.33. 5,927,773 shares of the stock were exchanged, compared to its average volume of 5,565,011. Wolfspeed has a twelve month low of $20.63 and a twelve month high of $70.42. The business has a 50 day moving average price of $26.61 and a two-hundred day moving average price of $32.05. The company has a current ratio of 4.58, a quick ratio of 4.58 and a debt-to-equity ratio of 5.55.

Wolfspeed (NYSE:WOLF) last issued its quarterly earnings data on Wednesday, January 31st. The company reported ($0.69) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.79) by $0.10. The business had revenue of $208.40 million during the quarter, compared to analysts’ expectations of $205.94 million. Wolfspeed had a negative return on equity of 27.37% and a negative net margin of 96.12%. As a group, analysts predict that Wolfspeed will post -3.05 earnings per share for the current fiscal year.

Institutional Trading of Wolfspeed

A number of large investors have recently modified their holdings of WOLF. TFO Wealth Partners LLC lifted its stake in Wolfspeed by 57,400.0% in the fourth quarter. TFO Wealth Partners LLC now owns 575 shares of the company’s stock worth $25,000 after acquiring an additional 574 shares during the last quarter. Independence Bank of Kentucky lifted its holdings in Wolfspeed by 97.0% during the 4th quarter. Independence Bank of Kentucky now owns 711 shares of the company’s stock worth $31,000 after buying an additional 350 shares during the last quarter. Fifth Third Bancorp boosted its position in shares of Wolfspeed by 56.9% during the 1st quarter. Fifth Third Bancorp now owns 1,246 shares of the company’s stock worth $37,000 after acquiring an additional 452 shares in the last quarter. Rakuten Securities Inc. purchased a new position in shares of Wolfspeed in the 4th quarter valued at about $48,000. Finally, GAMMA Investing LLC purchased a new position in Wolfspeed in the fourth quarter valued at approximately $56,000.

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.