Wolfspeed (NYSE:WOLF) Price Target Lowered to $25.00 at Citigroup

Wolfspeed (NYSE:WOLF) had its price target trimmed by Citigroup from $29.00 to $25.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other research analysts have also issued reports on WOLF. Deutsche Bank Aktiengesellschaft reduced their price objective on Wolfspeed from $35.00 to $30.00 and set a hold rating for the company in a research report on Tuesday, April 23rd. Mizuho reduced their price target on shares of Wolfspeed from $30.00 to $27.00 and set a neutral rating for the company in a report on Thursday. 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 report on Wednesday, April 3rd. Canaccord Genuity Group reduced their target price on shares of Wolfspeed from $50.00 to $47.00 and set a buy rating for the company in a research note on Thursday. Finally, William Blair lowered shares of Wolfspeed from an outperform rating to a market perform rating in a research note on Thursday. One research analyst has 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, Wolfspeed presently has an average rating of Hold and a consensus price target of $37.27.

Wolfspeed Stock Performance

Shares of NYSE:WOLF traded up $1.77 during midday trading on Thursday, reaching $25.33. The company had a trading volume of 5,927,773 shares, compared to its average volume of 5,565,011. The stock’s fifty day moving average price is $26.61 and its 200-day moving average price is $32.05. The company has a quick ratio of 4.58, a current ratio of 4.58 and a debt-to-equity ratio of 5.55. Wolfspeed has a one year low of $20.63 and a one year high of $70.42.

Wolfspeed (NYSE:WOLF) last released its quarterly earnings data on Wednesday, January 31st. The company reported ($0.69) EPS for the quarter, topping analysts’ consensus estimates of ($0.79) by $0.10. The firm had revenue of $208.40 million during the quarter, compared to the consensus estimate of $205.94 million. Wolfspeed had a negative net margin of 96.12% and a negative return on equity of 27.37%. As a group, equities research analysts anticipate that Wolfspeed will post -3.05 EPS for the current fiscal year.

Institutional Investors Weigh In On Wolfspeed

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