Wolfspeed (NYSE:WOLF) Shares Gap Down – What’s Next?

Wolfspeed, Inc. (NYSE:WOLF) gapped down prior to trading on Wednesday . The stock had previously closed at $36.63, but opened at $32.50. Wolfspeed shares last traded at $37.68, with a volume of 3,523,670 shares.

Trending Headlines about Wolfspeed

Here are the key news stories impacting Wolfspeed this week:

• Positive Sentiment: Management says refinancing will cut annual interest expense by roughly $62M and released Q4 revenue targets that set a near-term revenue range — both actions reduce financing risk and improve the company’s runway. Wolfspeed targets $140M-$160M Q4 revenue while cutting annual interest expense by about $62M
• Positive Sentiment: Board and senior leadership changes — including new hires and a shake-up that management says will strengthen execution — appear to have bolstered investor confidence. Wolfspeed (WOLF) Is Up 21.1% After Leadership Shake-Up And Debt Refinancing – Has The Bull Case Changed? Wolfspeed strengthens executive team
• Positive Sentiment: Q3 results slightly beat EPS estimates (reported EPS -$3.52 vs. consensus -$3.78) and revenue (~$150.2M) was essentially in line with expectations; management highlighted ~30% sequential AI data-center growth and launched a 10 kV SiC MOSFET — evidence of expanding end-market demand and product progress. Wolfspeed Reports Financial Results for the Third Quarter of Fiscal 2026
• Neutral Sentiment: Q4 revenue guidance range of $140M–$160M is close to consensus but conservative at the midpoint, leaving room for upside or downside depending on AI customer uptake and cycle timing. Wolfspeed targets $140M-$160M Q4 revenue while cutting annual interest expense by about $62M
• Neutral Sentiment: Market reaction: unusually high volume and a sizable share-price move reflect speculative repositioning by investors to capture potential upside from refinancing and restructuring news.
• Negative Sentiment: Risks remain: revenue is down year-over-year (Q3 revenue down ~19% YoY), the company is still unprofitable, and some coverage raises concerns about legacy bankruptcy-related overhangs or execution risks that could reassert themselves at the next earnings/operational milestone. Wolfspeed faces earnings test after bankruptcy, stock surge

Analyst Upgrades and Downgrades

WOLF has been the subject of several recent analyst reports. Susquehanna reduced their target price on shares of Wolfspeed from $30.00 to $20.00 and set a “neutral” rating for the company in a research note on Thursday, January 22nd. Wall Street Zen lowered shares of Wolfspeed from a “hold” rating to a “sell” rating in a research note on Saturday, February 7th. Piper Sandler reiterated an “overweight” rating and issued a $20.00 target price (up from $6.00) on shares of Wolfspeed in a research note on Thursday, February 5th. Zacks Research upgraded shares of Wolfspeed to a “hold” rating in a research note on Monday, February 9th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Wolfspeed in a research note on Friday, March 27th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $14.33.

Wolfspeed Trading Up 16.8%

The stock’s fifty day moving average is $20.98 and its two-hundred day moving average is $20.46. The company has a market capitalization of $1.93 billion and a PE ratio of -6.08.

Wolfspeed (NYSE:WOLF) last issued its quarterly earnings results on Wednesday, January 28th. The company reported ($6.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.74) by ($5.37). The firm’s revenue for the quarter was down 6.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.95) EPS.

Hedge Funds Weigh In On Wolfspeed

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Canada Pension Plan Investment Board purchased a new position in shares of Wolfspeed in the 2nd quarter worth about $34,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Wolfspeed in the 2nd quarter worth about $34,000. Summit Securities Group LLC lifted its holdings in Wolfspeed by 71.0% during the fourth quarter. Summit Securities Group LLC now owns 2,204 shares of the company’s stock valued at $38,000 after purchasing an additional 915 shares during the last quarter. Marex Group plc purchased a new stake in Wolfspeed during the second quarter valued at about $44,000. Finally, Eastern Bank purchased a new stake in Wolfspeed during the fourth quarter valued at about $46,000.

Wolfspeed Company Profile

Wolfspeed, Inc (NYSE: WOLF) is a leading developer and manufacturer of silicon carbide (SiC) and gallium nitride (GaN) semiconductor materials and devices. The company’s product portfolio addresses high-growth markets such as electric vehicles, renewable energy, fast-charging infrastructure, aerospace and defense, and telecommunications. By leveraging proprietary materials and device designs, Wolfspeed delivers solutions that offer improved energy efficiency, higher power density and greater thermal performance compared to conventional silicon-based semiconductors.

Founded as part of Cree, Inc and spun off to form an independent public company in October 2021, Wolfspeed traces its roots to the mid-1980s when it pioneered the commercial use of wide-bandgap semiconductor technology.