Wolfspeed, Inc. (NYSE:WOLF) Receives Average Recommendation of “Hold” from Brokerages

Wolfspeed, Inc. (NYSE:WOLF) has earned an average rating of “Hold” from the sixteen research firms that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, eleven have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price target among brokers that have covered the stock in the last year is $24.53.

Several research analysts have weighed in on the company. Canaccord Genuity Group dropped their price target on Wolfspeed from $45.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Bank of America cut their target price on shares of Wolfspeed from $25.00 to $15.00 and set an “underperform” rating for the company in a research note on Friday, August 23rd. The Goldman Sachs Group decreased their price target on shares of Wolfspeed from $48.00 to $28.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Susquehanna cut their price objective on Wolfspeed from $23.00 to $16.00 and set a “neutral” rating for the company in a research report on Thursday, August 22nd. Finally, Mizuho decreased their target price on Wolfspeed from $28.00 to $17.00 and set a “neutral” rating on the stock in a research report on Thursday, August 22nd.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of WOLF. TFO Wealth Partners LLC boosted its stake in shares of 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 purchasing an additional 574 shares during the period. Mather Group LLC. boosted its position in shares of Wolfspeed by 385.5% during the second quarter. Mather Group LLC. now owns 1,175 shares of the company’s stock valued at $27,000 after buying an additional 933 shares during the period. Fifth Third Bancorp grew its stake in shares of Wolfspeed by 56.9% during the first quarter. Fifth Third Bancorp now owns 1,246 shares of the company’s stock valued at $37,000 after buying an additional 452 shares during the last quarter. Signaturefd LLC raised its holdings in shares of Wolfspeed by 284.3% in the second quarter. Signaturefd LLC now owns 2,087 shares of the company’s stock worth $48,000 after buying an additional 1,544 shares during the period. Finally, Advisors Asset Management Inc. lifted its stake in shares of Wolfspeed by 64.8% during the 1st quarter. Advisors Asset Management Inc. now owns 1,757 shares of the company’s stock worth $52,000 after acquiring an additional 691 shares during the last quarter.

Wolfspeed Price Performance

Shares of Wolfspeed stock opened at $7.62 on Wednesday. The company has a market capitalization of $959.02 million, a price-to-earnings ratio of -1.18 and a beta of 1.53. The company has a quick ratio of 3.85, a current ratio of 4.51 and a debt-to-equity ratio of 6.99. The stock’s 50-day simple moving average is $16.18 and its 200-day simple moving average is $22.66. Wolfspeed has a 52 week low of $7.28 and a 52 week high of $47.43.

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.