Wolfspeed (NYSE:WOLF) Stock Rating Reaffirmed by Roth Mkm

Roth Mkm restated their buy rating on shares of Wolfspeed (NYSE:WOLF) in a research report sent to investors on Tuesday morning, Benzinga reports. The brokerage currently has a $50.00 target price on the stock.

Several other analysts have also weighed in on WOLF. Mizuho started coverage on Wolfspeed in a report on Friday, April 5th. They issued a neutral rating and a $30.00 price objective for the company. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Wolfspeed from $35.00 to $30.00 and set a hold rating for the company in a research report on Tuesday, April 23rd. Wells Fargo & Company reissued an equal weight rating and issued a $30.00 target price (down previously from $55.00) on shares of Wolfspeed in a report on Wednesday, April 3rd. Piper Sandler lowered their target price on Wolfspeed from $55.00 to $45.00 and set an overweight rating for the company in a report on Thursday, February 1st. Finally, Susquehanna reduced their price objective on Wolfspeed from $35.00 to $25.00 and set a neutral rating for the company in a research report on Tuesday, April 23rd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Hold and an average target price of $37.27.

Wolfspeed Price Performance

Shares of NYSE WOLF opened at $25.33 on Tuesday. The company has a market capitalization of $3.19 billion, a price-to-earnings ratio of -3.90 and a beta of 1.64. Wolfspeed has a 1-year low of $20.63 and a 1-year high of $70.42. The business has a 50-day moving average of $26.58 and a 200-day moving average of $32.11. The company has a debt-to-equity ratio of 4.50, a current ratio of 5.13 and a quick ratio of 4.58.

Wolfspeed (NYSE:WOLF) last posted its quarterly earnings data on Wednesday, January 31st. The company reported ($0.69) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.79) by $0.10. Wolfspeed had a negative net margin of 96.12% and a negative return on equity of 25.75%. The company had revenue of $208.40 million during the quarter, compared to analysts’ expectations of $205.94 million. On average, equities analysts anticipate that Wolfspeed will post -3.05 EPS for the current fiscal year.

Institutional Investors Weigh In On Wolfspeed

Several hedge funds have recently made changes to their positions in WOLF. TFO Wealth Partners LLC boosted its position in Wolfspeed by 57,400.0% during the 4th quarter. TFO Wealth Partners LLC now owns 575 shares of the company’s stock worth $25,000 after acquiring an additional 574 shares during the period. Independence Bank of Kentucky lifted its position in shares of Wolfspeed by 97.0% in the fourth quarter. Independence Bank of Kentucky now owns 711 shares of the company’s stock worth $31,000 after purchasing an additional 350 shares in the last quarter. Fifth Third Bancorp boosted its holdings in shares of Wolfspeed by 56.9% during the first quarter. Fifth Third Bancorp now owns 1,246 shares of the company’s stock worth $37,000 after purchasing an additional 452 shares during the period. Rakuten Securities Inc. purchased a new position in Wolfspeed during the fourth quarter valued at approximately $48,000. Finally, GAMMA Investing LLC acquired a new position in Wolfspeed in the 4th quarter valued at approximately $56,000.

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.