Wolfspeed, Inc. (NYSE:WOLF – Get Free Report)’s stock price gapped down prior to trading on Thursday after JPMorgan Chase & Co. lowered their price target on the stock from $20.00 to $17.00. The stock had previously closed at $13.71, but opened at $10.68. JPMorgan Chase & Co. currently has a neutral rating on the stock. Wolfspeed shares last traded at $10.38, with a volume of 4,968,062 shares.
Other research analysts have also issued reports about the stock. Susquehanna cut their target price on shares of Wolfspeed from $16.00 to $11.00 and set a “neutral” rating for the company in a research report on Thursday. Morgan Stanley upped their target price on shares of Wolfspeed from $10.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. 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 report on Friday, August 23rd. Canaccord Genuity Group cut their target price on shares of Wolfspeed from $45.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Finally, TD Cowen cut their target price on shares of Wolfspeed from $25.00 to $15.00 and set a “hold” rating for the company in a research report on Thursday, August 22nd. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $17.86.
View Our Latest Stock Report on WOLF
Institutional Investors Weigh In On Wolfspeed
Wolfspeed Stock Down 36.2 %
The stock has a market capitalization of $1.11 billion, a P/E ratio of -1.31 and a beta of 1.46. The company’s 50-day moving average price is $10.96 and its 200 day moving average price is $18.23. The company has a debt-to-equity ratio of 6.99, a quick ratio of 3.85 and a current ratio of 4.51.
Wolfspeed (NYSE:WOLF – Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($1.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.20) by $0.09. The company had revenue of $194.70 million for the quarter, compared to the consensus estimate of $200.11 million. Wolfspeed had a negative net margin of 107.93% and a negative return on equity of 37.76%. As a group, equities analysts expect that Wolfspeed, Inc. will post -4.07 earnings per share for the current year.
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.
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