Wolfspeed, Inc. (NYSE:WOLF) Receives $10.50 Consensus Price Target from Analysts

Shares of Wolfspeed, Inc. (NYSE:WOLF) have received a consensus rating of “Reduce” from the eight brokerages that are currently covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $10.50.

WOLF has been the subject of a number of research reports. Wall Street Zen raised shares of Wolfspeed to a “hold” rating in a research note on Saturday, November 22nd. Susquehanna upped their target price on shares of Wolfspeed to $30.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 22nd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Wolfspeed in a report on Monday, December 29th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of WOLF. Andar Capital Management HK Ltd purchased a new position in Wolfspeed in the third quarter worth $48,000. Eastern Bank purchased a new position in shares of Wolfspeed during the 4th quarter worth $46,000. Polymer Capital Management HK LTD purchased a new position in shares of Wolfspeed during the 3rd quarter worth about $582,000. Mariner Investment Group LLC purchased a new stake in Wolfspeed during the third quarter valued at about $715,000. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in shares of Wolfspeed in the third quarter worth $735,000.

Wolfspeed Stock Performance

NYSE:WOLF opened at $20.46 on Friday. The firm has a market cap of $529.71 million and a price-to-earnings ratio of -32.48. Wolfspeed has a one year low of $8.05 and a one year high of $36.60. The firm’s fifty day moving average is $19.13 and its two-hundred day moving average is $13.42.

Wolfspeed (NYSE:WOLF) last announced its quarterly earnings results on Wednesday, October 29th. The company reported ($0.63) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.05. The firm had revenue of $196.80 million for the quarter, compared to analysts’ expectations of $195.37 million. As a group, equities research analysts predict that Wolfspeed will post -4 earnings per share for the current fiscal year.

About Wolfspeed

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.