Deutsche Bank Aktiengesellschaft Trims Wolfspeed (NYSE:WOLF) Target Price to $30.00

Wolfspeed (NYSE:WOLF) had its price target decreased by Deutsche Bank Aktiengesellschaft from $35.00 to $30.00 in a research note issued to investors on Tuesday morning, Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a hold rating on the stock.

A number of other analysts have also commented on the company. Mizuho started coverage on Wolfspeed in a report on Friday, April 5th. They set a neutral rating and a $30.00 price target on the stock. Piper Sandler dropped their price target on Wolfspeed from $55.00 to $45.00 and set an overweight rating on the stock in a report on Thursday, February 1st. JPMorgan Chase & Co. dropped their price target on Wolfspeed from $43.00 to $35.00 and set a neutral rating on the stock in a report on Thursday, April 11th. Susquehanna decreased their target price on Wolfspeed from $35.00 to $25.00 and set a neutral rating for the company in a research report on Tuesday. Finally, Wells Fargo & Company reissued an equal weight rating and issued a $30.00 target price (down from $55.00) on shares of Wolfspeed in a research report on Wednesday, April 3rd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Wolfspeed presently has a consensus rating of Hold and an average target price of $41.88.

Wolfspeed Stock Up 1.6 %

WOLF stock opened at $24.87 on Tuesday. Wolfspeed has a twelve month low of $21.85 and a twelve month high of $70.42. The company has a quick ratio of 4.58, a current ratio of 5.13 and a debt-to-equity ratio of 4.50. The stock’s 50 day moving average is $26.63 and its 200-day moving average is $32.40. The firm has a market capitalization of $3.13 billion, a PE ratio of -4.09 and a beta of 1.66.

Wolfspeed (NYSE:WOLF) last issued its quarterly earnings results on Wednesday, January 31st. The company reported ($0.69) EPS for the quarter, topping analysts’ consensus estimates of ($0.79) by $0.10. The business had revenue of $208.40 million for the quarter, compared to analyst estimates of $205.94 million. Wolfspeed had a negative return on equity of 19.35% and a negative net margin of 87.35%. Sell-side analysts expect that Wolfspeed will post -3.05 EPS for the current fiscal year.

Insider Activity

In related news, Director Darren R. Jackson purchased 10,000 shares of Wolfspeed stock in a transaction dated Friday, February 2nd. The stock was bought at an average cost of $25.80 per share, for a total transaction of $258,000.00. Following the completion of the transaction, the director now owns 49,021 shares in the company, valued at $1,264,741.80. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.62% of the stock is owned by company insiders.

Hedge Funds Weigh In On Wolfspeed

Several hedge funds have recently made changes to their positions in WOLF. Envestnet Asset Management Inc. grew its position in Wolfspeed by 234.5% during the third quarter. Envestnet Asset Management Inc. now owns 168,103 shares of the company’s stock worth $6,405,000 after buying an additional 117,848 shares in the last quarter. Vanguard Group Inc. grew its position in Wolfspeed by 1.5% during the third quarter. Vanguard Group Inc. now owns 12,471,667 shares of the company’s stock worth $475,171,000 after buying an additional 188,236 shares in the last quarter. Boston Partners purchased a new position in Wolfspeed during the third quarter worth about $2,032,000. UBS Group AG grew its position in Wolfspeed by 57.5% during the third quarter. UBS Group AG now owns 219,080 shares of the company’s stock worth $8,347,000 after buying an additional 80,011 shares in the last quarter. Finally, UniSuper Management Pty Ltd grew its position in Wolfspeed by 86.7% during the third quarter. UniSuper Management Pty Ltd now owns 703,822 shares of the company’s stock worth $26,816,000 after buying an additional 326,810 shares in the last quarter.

About Wolfspeed

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.