Wolfspeed’s (WOLF) Overweight Rating Reiterated at Piper Sandler

Piper Sandler restated their overweight rating on shares of Wolfspeed (NYSE:WOLF) in a research report released on Thursday,Benzinga reports. They currently have a $18.00 price target on the stock, down from their previous price target of $20.00.

WOLF has been the topic of a number of other research reports. Susquehanna lowered their target price on shares of Wolfspeed from $23.00 to $16.00 and set a “neutral” rating on the stock in a report on Thursday, August 22nd. The Goldman Sachs Group lowered their target price on shares of Wolfspeed from $48.00 to $28.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Morgan Stanley increased their price objective on shares of Wolfspeed from $10.00 to $15.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Mizuho lowered shares of Wolfspeed from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $17.00 to $8.00 in a research note on Thursday, October 3rd. Finally, New Street Research lowered shares of Wolfspeed from a “buy” rating to a “neutral” rating and set a $18.00 price objective for the company. in a research note on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company. According to MarketBeat, Wolfspeed presently has an average rating of “Hold” and an average target price of $17.36.

Wolfspeed Trading Up 20.9 %

Shares of Wolfspeed stock traded up $1.74 during trading on Thursday, hitting $10.07. The company’s stock had a trading volume of 19,678,717 shares, compared to its average volume of 6,686,677. The company has a debt-to-equity ratio of 6.99, a current ratio of 4.51 and a quick ratio of 3.85. Wolfspeed has a 52 week low of $7.28 and a 52 week high of $47.43. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of -1.46 and a beta of 1.46. The stock has a 50-day moving average price of $10.92 and a two-hundred day moving average price of $18.16.

Wolfspeed (NYSE:WOLF) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($1.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.20) by $0.09. The company had revenue of $194.70 million for the quarter, compared to analysts’ expectations of $200.11 million. Wolfspeed had a negative net margin of 107.93% and a negative return on equity of 37.76%. Equities research analysts anticipate that Wolfspeed will post -4.07 EPS for the current fiscal year.

Institutional Investors Weigh In On Wolfspeed

Institutional investors have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. raised its stake in Wolfspeed by 20.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 128,099 shares of the company’s stock worth $3,779,000 after buying an additional 22,075 shares in the last quarter. Texas Permanent School Fund Corp raised its stake in Wolfspeed by 1.7% in the first quarter. Texas Permanent School Fund Corp now owns 109,966 shares of the company’s stock worth $3,244,000 after buying an additional 1,863 shares in the last quarter. SG Americas Securities LLC raised its stake in Wolfspeed by 15.9% in the first quarter. SG Americas Securities LLC now owns 12,555 shares of the company’s stock worth $370,000 after buying an additional 1,721 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in shares of Wolfspeed during the first quarter worth $1,511,000. Finally, Inspire Investing LLC increased its position in shares of Wolfspeed by 39.3% during the first quarter. Inspire Investing LLC now owns 12,189 shares of the company’s stock worth $360,000 after purchasing an additional 3,437 shares in the last quarter.

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.