Wolfspeed (NYSE:WOLF) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Wolfspeed (NYSE:WOLF) from a sell rating to a hold rating in a research report sent to investors on Saturday.

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Wolfspeed in a research report on Saturday, September 27th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $9.22.

Wolfspeed Trading Down 3.3%

Wolfspeed stock opened at $29.98 on Friday. The company has a market capitalization of $774.61 million and a price-to-earnings ratio of -2.66. Wolfspeed has a 12 month low of $8.05 and a 12 month high of $36.60. The stock’s 50 day moving average is $10.45 and its 200-day moving average is $4.95.

Institutional Investors Weigh In On Wolfspeed

A number of large investors have recently modified their holdings of WOLF. N.E.W. Advisory Services LLC acquired a new stake in shares of Wolfspeed in the 1st quarter valued at $28,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Wolfspeed in the 2nd quarter valued at $28,000. Caitlin John LLC bought a new position in shares of Wolfspeed in the 2nd quarter valued at $31,000. Wealthfront Advisers LLC bought a new position in shares of Wolfspeed in the 1st quarter valued at $32,000. Finally, MAI Capital Management lifted its stake in shares of Wolfspeed by 894.9% in the 1st quarter. MAI Capital Management now owns 10,815 shares of the company’s stock valued at $33,000 after acquiring an additional 9,728 shares during 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.