The stock of Wolfspeed Inc. (NYSE:WOLF) last traded at $62.01, down -1.71% from the previous session.
Data from the available sources indicates that Wolfspeed Inc. (NYSE:WOLF) is covered by 22 analysts. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $80.00 and a low of $45.00, we find $70.00. Given the previous closing price of $63.09, this indicates a potential upside of 10.95 percent. WOLF stock price is now 12.89% away from the 50-day moving average and -10.80% away from the 200-day moving average. The market capitalization of the company currently stands at $7.75B.
In total, 10 analysts have assigned it a hold rating, and 9 have given it a buy rating. Brokers who have rated the stock have averaged $64.36 as their price target over the next twelve months.
With the price target of $46, Jefferies recently initiated with Hold rating for Wolfspeed Inc. (NYSE: WOLF).
In other news, REPLOGLE JOHN B, Director bought 10,566 shares of the company’s stock on Apr 28. The stock was bought for $502,308 at an average price of $47.54. Upon completion of the transaction, the Director now directly owns 81,405 shares in the company, valued at $5.05 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Apr 28, PRESIDENT & CEO LOWE GREGG A bought 5,450 shares of the business’s stock. A total of $250,357 was incurred on buying the stock at an average price of $45.94. This leaves the insider owning 524,855 shares of the company worth $32.55 million. Insiders disposed of 49,136 shares of company stock worth roughly $3.05 million over the past 1 year. A total of 0.80% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in WOLF stock. A new stake in Wolfspeed Inc. shares was purchased by FIL LTD during the first quarter worth $72,806,000. CERCANO MANAGEMENT LLC invested $8,018,000 in shares of WOLF during the first quarter. In the first quarter, HHLR ADVISORS, LTD. acquired a new stake in Wolfspeed Inc. valued at approximately $4,341,000. PEAK6 INVESTMENTS LLC acquired a new stake in WOLF for approximately $3,019,000. JEFFERIES GROUP LLC purchased a new stake in WOLF valued at around $2,942,000 in the second quarter. In total, there are 713 active investors with 112.05% ownership of the company’s stock.
With an opening price of $65.20 on Thursday morning, Wolfspeed Inc. (NYSE: WOLF) set off the trading day. During the past 12 months, Wolfspeed Inc. has had a low of $39.02 and a high of $125.48. As of last week, the company has a debt-to-equity ratio of 1.78, a current ratio of 4.70, and a quick ratio of 4.20. The fifty day moving average price for WOLF is $55.33 and a two-hundred day moving average price translates $69.28 for the stock.
The latest earnings results from Wolfspeed Inc. (NYSE: WOLF) was released for Mar, 2023. The net profit margin was -20.10% and return on equity was -9.20% for WOLF. The company reported revenue of $228.7 million for the quarter, compared to $188.0 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 21.65 percent.
Wolfspeed Inc.(WOLF) Company Profile
Wolfspeed, Inc. operates as a powerhouse semiconductor company focuses on silicon carbide and gallium nitride (GaN) technologies Europe, China, the United States, Japan, South Korea, 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. The company also provides power devices, such as silicon carbide Schottky diodes, metal oxide semiconductor field effect transistors (MOSFETs), and power modules for customers and distributors to use in applications, including electric vehicles comprising charging infrastructure, server power supplies, solar inverters, uninterruptible power supplies, industrial power supplies, and other applications. In addition, it offers RF devices comprising GaN-based die, high-electron mobility transistors, monolithic microwave integrated circuits, and laterally diffused MOSFET power transistors for telecommunications infrastructure, military, and other commercial applications. The company was formerly known as Cree, Inc. and changed its name to Wolfspeed, Inc. in October 2021. Wolfspeed, Inc. was founded in 1987 and is headquartered in Durham, North Carolina.
