Wolfspeed, Inc. (NYSE:WOLF) Given Consensus Rating of “Hold” by Analysts

Wolfspeed, Inc. (NYSE:WOLF) has received an average recommendation of “Hold” from the sixteen ratings firms that are presently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and four have given a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $14.86.

WOLF has been the topic of a number of recent research reports. JPMorgan Chase & Co. dropped their price target on Wolfspeed from $20.00 to $17.00 and set a “neutral” rating on the stock in a research report on Thursday, November 7th. Susquehanna dropped their price target on Wolfspeed from $11.00 to $7.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 22nd. StockNews.com raised Wolfspeed to a “sell” rating in a research report on Monday, January 6th. Morgan Stanley upped their price target on Wolfspeed from $10.00 to $15.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Finally, Bank of America decreased their price objective on Wolfspeed from $9.50 to $6.00 and set an “underperform” rating on the stock in a research note on Thursday, January 30th.

Wolfspeed Stock Down 1.4 %

WOLF stock opened at $5.84 on Friday. The stock’s fifty day simple moving average is $7.23 and its two-hundred day simple moving average is $10.14. The company has a current ratio of 3.15, a quick ratio of 2.47 and a debt-to-equity ratio of 17.26. Wolfspeed has a 1-year low of $4.66 and a 1-year high of $30.87. The stock has a market cap of $745.19 million, a P/E ratio of -0.76 and a beta of 1.43.

Wolfspeed (NYSE:WOLF) last issued its quarterly earnings results on Wednesday, January 29th. The company reported ($1.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.90) by ($0.20). Wolfspeed had a negative net margin of 125.96% and a negative return on equity of 70.84%. Analysts expect that Wolfspeed will post -4.2 EPS for the current year.

Insiders Place Their Bets

In other Wolfspeed news, Chairman Thomas H. Werner bought 37,500 shares of the firm’s stock in a transaction on Wednesday, November 20th. The shares were acquired at an average cost of $6.53 per share, for a total transaction of $244,875.00. Following the purchase, the chairman now directly owns 108,549 shares of the company’s stock, valued at $708,824.97. The trade was a 52.78 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Glenda Dorchak acquired 3,592 shares of Wolfspeed stock in a transaction dated Friday, November 22nd. The shares were purchased at an average price of $8.33 per share, for a total transaction of $29,921.36. Following the completion of the transaction, the director now directly owns 18,688 shares in the company, valued at approximately $155,671.04. The trade was a 23.79 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 78,067 shares of company stock worth $524,747 in the last ninety days. 0.84% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Wolfspeed

Institutional investors have recently modified their holdings of the company. Eastern Bank purchased a new stake in Wolfspeed during the 3rd quarter valued at about $27,000. R Squared Ltd purchased a new stake in Wolfspeed during the 4th quarter valued at about $28,000. KBC Group NV boosted its holdings in Wolfspeed by 76.5% during the 4th quarter. KBC Group NV now owns 6,064 shares of the company’s stock valued at $40,000 after acquiring an additional 2,629 shares during the period. GAMMA Investing LLC boosted its holdings in Wolfspeed by 416.4% during 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 during the period. Finally, Allworth Financial LP boosted its holdings in Wolfspeed by 38.1% during the 4th quarter. Allworth Financial LP now owns 7,060 shares of the company’s stock valued at $44,000 after acquiring an additional 1,949 shares during the period.

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.