Wolfspeed (NYSE:WOLF) Rating Lowered to Market Perform at William Blair

Wolfspeed (NYSE:WOLF) was downgraded by equities researchers at William Blair from an “outperform” rating to a “market perform” rating in a report released on Thursday, Marketbeat Ratings reports.

Other equities analysts have also recently issued reports about the stock. Mizuho started coverage on shares of Wolfspeed in a report on Friday, April 5th. They set a “neutral” rating and a $30.00 price target on the stock. Deutsche Bank Aktiengesellschaft lowered their target price on Wolfspeed from $35.00 to $30.00 and set a “hold” rating on the stock in a research note on Tuesday, April 23rd. Susquehanna cut their price target on Wolfspeed from $35.00 to $25.00 and set a “neutral” rating for the company in a research note on Tuesday, April 23rd. Wells Fargo & Company reissued an “equal weight” rating and issued a $30.00 price target (down previously from $55.00) on shares of Wolfspeed in a research note on Wednesday, April 3rd. Finally, Roth Mkm restated a “buy” rating and issued a $50.00 price objective on shares of Wolfspeed in a report on Tuesday. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $37.27.

Wolfspeed Trading Up 7.5 %

NYSE WOLF traded up $1.77 on Thursday, hitting $25.33. 5,927,773 shares of the stock were exchanged, compared to its average volume of 5,565,011. The company’s 50-day moving average price is $26.61 and its two-hundred day moving average price is $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 has a 52-week low of $20.63 and a 52-week high of $70.42.

Wolfspeed (NYSE:WOLF) last released its earnings results on Wednesday, January 31st. The company reported ($0.69) earnings per share for the quarter, beating the consensus estimate of ($0.79) by $0.10. Wolfspeed had a negative return on equity of 27.37% and a negative net margin of 96.12%. The company had revenue of $208.40 million for the quarter, compared to analysts’ expectations of $205.94 million. On average, equities research analysts anticipate that Wolfspeed will post -3.05 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. TFO Wealth Partners LLC grew its position in shares of Wolfspeed by 57,400.0% in the fourth quarter. TFO Wealth Partners LLC now owns 575 shares of the company’s stock valued at $25,000 after purchasing an additional 574 shares during the last quarter. Independence Bank of Kentucky lifted its position in shares of 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 purchasing an additional 350 shares during the last quarter. Fifth Third Bancorp boosted its stake in Wolfspeed by 56.9% during the 1st quarter. Fifth Third Bancorp now owns 1,246 shares of the company’s stock valued at $37,000 after purchasing an additional 452 shares during the period. Rakuten Securities Inc. acquired a new stake in Wolfspeed in the 4th quarter valued at approximately $48,000. Finally, GAMMA Investing LLC bought a new position in Wolfspeed in the 4th quarter worth approximately $56,000.

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.