The price of Wolfspeed Inc (NYSE:WOLF) shares last traded on Wall Street fell -5.67% to $32.80.
Based on available information, 22 analysts follow Wolfspeed Inc (NYSE:WOLF). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $75.00 and a low of $42.00, we find $57.20. Given the previous closing price of $34.77, this indicates a potential upside of 64.51 percent. WOLF stock price is now -31.15% away from the 50-day moving average and -44.50% away from the 200-day moving average. The market capitalization of the company currently stands at $4.11B.
Among analysts, 10 rate the stock a hold while 10 rate it a buy. Brokers who have rated the stock have averaged $55.63 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, LE DUY LOAN T, Director bought 5,000 shares of the company’s stock on Aug 23. The stock was bought for $235,068 at an average price of $47.01. Upon completion of the transaction, the Director now directly owns 10,000 shares in the company, valued at $0.33 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Apr 28, Director REPLOGLE JOHN B bought 10,566 shares of the business’s stock. A total of $502,308 was incurred on buying the stock at an average price of $47.54. This leaves the insider owning 81,405 shares of the company worth $2.67 million. Insiders disposed of 62,113 shares of company stock worth roughly $2.04 million over the past 1 year. A total of 1.10% 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 VOLORIDGE INVESTMENT MANAGEMENT, LLC during the first quarter worth $12,488,000. UNISUPER MANAGEMENT PTY LTD invested $12,366,000 in shares of WOLF during the first quarter. In the first quarter, FENGHE FUND MANAGEMENT PTE. LTD. acquired a new stake in Wolfspeed Inc valued at approximately $9,522,000. WELLINGTON MANAGEMENT GROUP LLP acquired a new stake in WOLF for approximately $8,726,000. TUDOR INVESTMENT CORP ET AL purchased a new stake in WOLF valued at around $4,814,000 in the second quarter. In total, there are 683 active investors with 109.64% ownership of the company’s stock.
A candlestick chart of Wolfspeed Inc (NYSE: WOLF) showed a price of $34.18 on Thursday morning. During the past 12 months, Wolfspeed Inc has had a low of $33.51 and a high of $119.65. As of last week, the company has a debt-to-equity ratio of 2.66, a current ratio of 5.74, and a quick ratio of 5.22. The fifty day moving average price for WOLF is $47.04 and a two-hundred day moving average price translates $58.88 for the stock.
The latest earnings results from Wolfspeed Inc (NYSE: WOLF) was released for Jun, 2023. According to the Semiconductors Company, earnings per share came in at -$0.42, missing analysts’ expectations of -$0.2 by -0.22. This compares to -$0.49 EPS in the same period last year. The net profit margin was -35.78% and return on equity was -16.25% for WOLF. The company reported revenue of $235.8 million for the quarter, compared to $228.5 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 3.19 percent. For the current quarter, analysts expect WOLF to generate $210.69M in revenue.
Wolfspeed Inc(WOLF) 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. 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 incorporated in 1987 and is headquartered in Durham, North Carolina.
