Wolfspeed (NYSE:WOLF) Price Target Lowered to $11.00 at Susquehanna

Wolfspeed (NYSE:WOLF) had its price target decreased by equities researchers at Susquehanna from $16.00 to $11.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Susquehanna’s target price points to a potential upside of 4.86% from the stock’s current price.

WOLF has been the topic of several other reports. New Street Research lowered shares of Wolfspeed from a “buy” rating to a “neutral” rating and set a $18.00 target price on the stock. in a research report on Wednesday, August 7th. Mizuho downgraded shares of Wolfspeed from a “neutral” rating to an “underperform” rating and reduced their price target for the company from $17.00 to $8.00 in a report on Thursday, October 3rd. Roth Mkm reduced their price target on shares of Wolfspeed from $25.00 to $20.00 and set a “buy” rating on the stock in a report on Thursday. Bank of America reduced their price target on shares of Wolfspeed from $25.00 to $15.00 and set an “underperform” rating on the stock in a report on Friday, August 23rd. Finally, TD Cowen reduced their price target on shares of Wolfspeed from $25.00 to $15.00 and set a “hold” rating on the stock in a report on Thursday, August 22nd. Two analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Wolfspeed has a consensus rating of “Hold” and a consensus target price of $19.79.

Wolfspeed Stock Performance

Shares of Wolfspeed stock traded down $3.22 on Thursday, reaching $10.49. 11,823,485 shares of the stock were exchanged, compared to its average volume of 6,467,600. Wolfspeed has a 1-year low of $7.28 and a 1-year high of $47.43. The company has a current ratio of 4.51, a quick ratio of 3.85 and a debt-to-equity ratio of 6.99. The business has a fifty day moving average price of $10.96 and a two-hundred day moving average price of $18.23. The firm has a market capitalization of $1.33 billion, a PE ratio of -1.52 and a beta of 1.46.

Wolfspeed (NYSE:WOLF) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($1.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.20) by $0.09. Wolfspeed had a negative net margin of 107.93% and a negative return on equity of 37.76%. The business had revenue of $194.70 million for the quarter, compared to analyst estimates of $200.11 million. As a group, research analysts anticipate that Wolfspeed will post -4.07 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Wolfspeed

Several large investors have recently made changes to their positions in WOLF. Iridian Asset Management LLC CT increased its stake in Wolfspeed by 319.9% during the 3rd quarter. Iridian Asset Management LLC CT now owns 521,158 shares of the company’s stock worth $5,055,000 after buying an additional 397,057 shares during the period. Lazard Asset Management LLC boosted its holdings in Wolfspeed by 292,375.0% in the first quarter. Lazard Asset Management LLC now owns 70,194 shares of the company’s stock valued at $2,070,000 after purchasing an additional 70,170 shares during the last quarter. Rheos Capital Works Inc. boosted its holdings in Wolfspeed by 140.8% in the third quarter. Rheos Capital Works Inc. now owns 427,500 shares of the company’s stock valued at $4,147,000 after purchasing an additional 250,000 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Wolfspeed by 3.6% in the first quarter. Vanguard Group Inc. now owns 13,079,067 shares of the company’s stock valued at $385,832,000 after purchasing an additional 449,732 shares during the last quarter. Finally, Boston Partners purchased a new position in Wolfspeed in the first quarter valued at about $1,621,000.

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.