Wolfspeed (NYSE:WOLF) PT Lowered to $25.00 at Deutsche Bank Aktiengesellschaft

Wolfspeed (NYSE:WOLF) had its price objective reduced by investment analysts at Deutsche Bank Aktiengesellschaft from $30.00 to $25.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft’s price objective would indicate a potential upside of 1.96% from the stock’s current price.

A number of other equities analysts have also weighed in on WOLF. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $30.00 price objective (down previously from $55.00) on shares of Wolfspeed in a research note on Wednesday, April 3rd. JPMorgan Chase & Co. decreased their target price on Wolfspeed from $43.00 to $35.00 and set a “neutral” rating on the stock in a research report on Thursday, April 11th. TD Cowen downgraded Wolfspeed from a “buy” rating to a “hold” rating and decreased their target price for the stock from $40.00 to $25.00 in a research report on Thursday, May 2nd. William Blair downgraded Wolfspeed from an “outperform” rating to a “market perform” rating in a research report on Thursday, May 2nd. Finally, Citigroup decreased their target price on Wolfspeed from $29.00 to $25.00 and set a “neutral” rating on the stock in a research report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $36.93.

Wolfspeed Price Performance

Shares of NYSE WOLF traded down $1.42 during mid-day trading on Tuesday, reaching $24.52. The company’s stock had a trading volume of 1,594,116 shares, compared to its average volume of 4,892,575. The firm has a market capitalization of $3.09 billion, a PE ratio of -3.79 and a beta of 1.64. The company has a debt-to-equity ratio of 5.55, a current ratio of 4.58 and a quick ratio of 4.00. The stock has a fifty day moving average of $26.62 and a two-hundred day moving average of $31.95. Wolfspeed has a 52 week low of $20.63 and a 52 week high of $70.42.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank bought a new stake in Wolfspeed during the 4th quarter valued at $308,701,000. FengHe Fund Management Pte. Ltd. boosted its position in shares of Wolfspeed by 438.9% in the 4th quarter. FengHe Fund Management Pte. Ltd. now owns 1,431,200 shares of the company’s stock worth $62,272,000 after purchasing an additional 1,165,600 shares in the last quarter. JANA Partners Management LP acquired a new stake in shares of Wolfspeed in the 3rd quarter worth $35,662,000. Cibc World Markets Corp acquired a new stake in shares of Wolfspeed in the 4th quarter worth $34,808,000. Finally, Polar Capital Holdings Plc acquired a new stake in shares of Wolfspeed in the 3rd quarter worth $16,200,000.

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.