Wolfspeed, Inc. (NYSE:WOLF) Stock Has Average Target Price of $25.00

Shares of Wolfspeed, Inc. (NYSE:WOLF – Get Free Report) have been given an average rating of “Hold” by the five analysts that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $25.00.

WOLF has been the subject of several research analyst reports. Weiss Ratings raised shares of Wolfspeed from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, October 8th. Wall Street Zen lowered shares of Wolfspeed from a “sell” rating to a “strong sell” rating in a report on Saturday, September 19th. Zacks Research raised shares of Wolfspeed to a “hold” rating in a research report on Friday, September 25th. TD Cowen restated a “hold” rating and issued a $25.00 target price on shares of Wolfspeed in a research note on Thursday, August 20th. Finally, Susquehanna reduced their target price on Wolfspeed from $40.00 to $30.00 and set a “neutral” rating for the company in a research note on Tuesday, July 21st.

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Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in WOLF. WINTON GROUP Ltd bought a new position in Wolfspeed in the second quarter worth approximately $299,000. Engineers Gate Manager LP acquired a new stake in Wolfspeed in the second quarter valued at approximately $347,000. Arizona State Retirement System bought a new stake in shares of Wolfspeed during the second quarter valued at approximately $360,000. Readystate Asset Management LP bought a new stake in shares of Wolfspeed during the second quarter valued at approximately $6,841,000. Finally, Concurrent Investment Advisors LLC bought a new stake in shares of Wolfspeed during the second quarter valued at approximately $229,000.

Wolfspeed Stock Up 2.5%

Shares of WOLF stock opened at $28.72 on Friday. The firm has a 50 day moving average of $28.22 and a 200-day moving average of $35.36. The company has a market cap of $1.52 billion and a price-to-earnings ratio of -1.82. Wolfspeed has a 52 week low of $13.48 and a 52 week high of $80.82.

Wolfspeed (NYSE:WOLF – Get Free Report) last released its earnings results on Wednesday, August 19th. The company reported ($2.26) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.45) by $0.19. The company had revenue of $149.60 million for the quarter, compared to analyst estimates of $150.00 million. The firm’s revenue was down 24.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.77) EPS. Analysts anticipate that Wolfspeed will post -8.27 earnings per share for the current year.

Wolfspeed Company Profile

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Wolfspeed, Inc (NYSE:WOLF) develops and manufactures semiconductor technologies based primarily on silicon carbide, a wide-bandgap material designed to support efficient power conversion and high-temperature operation. Its products are used in applications where reduced energy loss, higher power density and improved thermal performance are important.

The company’s offerings include silicon carbide wafers and materials, power modules, metal-oxide-semiconductor field-effect transistors (MOSFETs), diodes and other power semiconductor devices.

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