Wolfspeed (NYSE:WOLF) Price Target Increased to $15.00 by Analysts at Morgan Stanley

Wolfspeed (NYSE:WOLF) had its price objective upped by Morgan Stanley from $10.00 to $15.00 in a research report report published on Wednesday morning, Benzinga reports. They currently have an equal weight rating on the stock.

A number of other equities research analysts have also issued reports on the stock. New Street Research lowered shares of Wolfspeed from a “buy” rating to a “neutral” rating and set a $18.00 target price for the company. in a report on Wednesday, August 7th. Susquehanna dropped their price objective on shares of Wolfspeed from $23.00 to $16.00 and set a “neutral” rating for the company in a research note on Thursday, August 22nd. Piper Sandler decreased their target price on shares of Wolfspeed from $35.00 to $20.00 and set an “overweight” rating on the stock in a research note on Thursday, August 22nd. Deutsche Bank Aktiengesellschaft lowered their target price on Wolfspeed from $17.00 to $14.00 and set a “hold” rating on the stock in a report on Thursday, August 22nd. Finally, The Goldman Sachs Group cut their price target on Wolfspeed from $48.00 to $28.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $22.43.

Wolfspeed Trading Down 1.2 %

Shares of Wolfspeed stock opened at $16.01 on Wednesday. The company has a current ratio of 4.51, a quick ratio of 3.85 and a debt-to-equity ratio of 6.99. Wolfspeed has a twelve month low of $7.28 and a twelve month high of $47.43. The firm has a market capitalization of $2.01 billion, a PE ratio of -2.48 and a beta of 1.52. The firm’s 50-day moving average price is $10.48 and its 200 day moving average price is $19.29.

Wolfspeed (NYSE:WOLF) last released its earnings results on Wednesday, August 21st. The company reported ($1.06) earnings per share for the quarter, missing the consensus estimate of ($1.03) by ($0.03). The firm had revenue of $200.70 million during the quarter, compared to analysts’ expectations of $201.11 million. Wolfspeed had a negative net margin of 107.93% and a negative return on equity of 37.76%. On average, sell-side analysts predict that Wolfspeed will post -3.84 EPS for the current fiscal year.

Institutional Investors Weigh In On Wolfspeed

Institutional investors have recently made changes to their positions in the stock. Mather Group LLC. grew its stake in shares of Wolfspeed by 385.5% in the second quarter. Mather Group LLC. now owns 1,175 shares of the company’s stock valued at $27,000 after buying an additional 933 shares in the last quarter. GAMMA Investing LLC grew its position in Wolfspeed by 416.4% in the 3rd quarter. GAMMA Investing LLC now owns 4,544 shares of the company’s stock valued at $44,000 after acquiring an additional 3,664 shares in the last quarter. Signaturefd LLC increased its stake in Wolfspeed by 284.3% during the second quarter. Signaturefd LLC now owns 2,087 shares of the company’s stock worth $48,000 after purchasing an additional 1,544 shares during the period. Advisors Asset Management Inc. lifted its position in shares of Wolfspeed by 64.8% during the first quarter. Advisors Asset Management Inc. now owns 1,757 shares of the company’s stock worth $52,000 after purchasing an additional 691 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Wolfspeed in the second quarter valued at approximately $75,000.

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.