Susquehanna Cuts Wolfspeed (NYSE:WOLF) Price Target to $25.00

Wolfspeed (NYSE:WOLF) had its price objective cut by Susquehanna from $35.00 to $25.00 in a research note issued to investors on Tuesday, Benzinga reports. They currently have a neutral rating on the stock.

Other equities research analysts also recently issued research reports about the stock. Mizuho initiated coverage on shares of Wolfspeed in a research note on Friday, April 5th. They set a neutral rating and a $30.00 price target on the stock. Piper Sandler decreased their price target on shares of Wolfspeed from $55.00 to $45.00 and set an overweight rating on the stock in a research note on Thursday, February 1st. Wells Fargo & Company reiterated an equal weight rating and set a $30.00 price target (down previously from $55.00) on shares of Wolfspeed in a research note on Wednesday, April 3rd. Finally, JPMorgan Chase & Co. decreased their price target on shares of Wolfspeed from $43.00 to $35.00 and set a neutral rating on the stock in a research note on Thursday, April 11th. 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 company’s stock. According to MarketBeat, Wolfspeed currently has an average rating of Hold and a consensus price target of $41.88.

Wolfspeed Trading Up 1.6 %

Shares of WOLF stock opened at $24.87 on Tuesday. Wolfspeed has a 1 year low of $21.85 and a 1 year high of $70.42. The firm’s fifty day simple moving average is $26.63 and its 200 day simple moving average is $32.40. The firm has a market capitalization of $3.13 billion, a P/E ratio of -4.09 and a beta of 1.66. The company has a current ratio of 5.13, a quick ratio of 4.58 and a debt-to-equity ratio of 4.50.

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

Insider Activity

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State of Michigan Retirement System lifted its position in Wolfspeed by 1.0% during the 4th quarter. State of Michigan Retirement System now owns 30,022 shares of the company’s stock worth $1,306,000 after buying an additional 300 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its position in Wolfspeed by 2.8% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 11,573 shares of the company’s stock worth $435,000 after buying an additional 317 shares in the last quarter. Independence Bank of Kentucky lifted its position in Wolfspeed by 97.0% during the 4th quarter. Independence Bank of Kentucky now owns 711 shares of the company’s stock worth $31,000 after buying an additional 350 shares in the last quarter. Fox Run Management L.L.C. lifted its position in Wolfspeed by 3.4% during the 3rd quarter. Fox Run Management L.L.C. now owns 13,407 shares of the company’s stock worth $511,000 after buying an additional 437 shares in the last quarter. Finally, Fifth Third Bancorp lifted its position in Wolfspeed by 56.9% during the 1st quarter. Fifth Third Bancorp now owns 1,246 shares of the company’s stock worth $37,000 after buying an additional 452 shares in the last quarter.

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.