Wolfspeed (NYSE:WOLF) Shares Gap Down – Here’s What Happened

Posted by Brian Himes on Oct 16th, 2026

Wolfspeed, Inc. (NYSE:WOLF – Get Free Report) gapped down before the market opened on Wednesday. The stock had previously closed at $28.57, but opened at $27.07. Wolfspeed shares last traded at $25.9150, with a volume of 472,296 shares trading hands.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. TD Cowen reissued a “hold” rating and issued a $25.00 price objective on shares of Wolfspeed in a report on Thursday, August 20th. Susquehanna dropped their target price on Wolfspeed from $40.00 to $30.00 and set a “neutral” rating on the stock in a report on Tuesday, July 21st. Wall Street Zen cut Wolfspeed from a “sell” rating to a “strong sell” rating in a research report on Saturday, September 19th. Zacks Research upgraded Wolfspeed to a “hold” rating in a research report on Friday, September 25th. Finally, Weiss Ratings raised Wolfspeed from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, October 8th. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $25.00.

Check Out Our Latest Analysis on WOLF

Wolfspeed Stock Performance

The firm’s 50 day moving average is $28.18 and its 200-day moving average is $35.49. The stock has a market capitalization of $1.37 billion and a price-to-earnings ratio of -1.65.

Wolfspeed (NYSE:WOLF – Get Free Report) last announced its quarterly earnings results on Wednesday, August 19th. The company reported ($2.26) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.45) by $0.19. The firm had revenue of $149.60 million for the quarter, compared to analysts’ expectations of $150.00 million. The business’s quarterly revenue was down 24.1% on a year-over-year basis. During the same period last year, the company posted ($0.77) earnings per share. As a group, sell-side analysts forecast that Wolfspeed, Inc. will post -8.27 earnings per share for the current year.

Institutional Investors Weigh In On Wolfspeed

Hedge funds have recently modified their holdings of the company. WINTON GROUP Ltd purchased a new stake in shares of Wolfspeed during the 2nd quarter worth about $299,000. Engineers Gate Manager LP acquired a new stake in shares of Wolfspeed during the 2nd quarter valued at about $347,000. Arizona State Retirement System purchased a new position in shares of Wolfspeed in the 2nd quarter valued at about $360,000. Readystate Asset Management LP purchased a new position in shares of Wolfspeed in the 2nd quarter valued at about $6,841,000. Finally, Concurrent Investment Advisors LLC purchased a new position in shares of Wolfspeed in the 2nd quarter valued at about $229,000.

Wolfspeed Company Profile

(Get Free Report)

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.