Wolfspeed (NYSE:WOLF) Issues Quarterly Earnings Results, Beats Estimates By $0.09 EPS

Wolfspeed (NYSE:WOLFGet Free Report) released its quarterly earnings results on Wednesday. The company reported ($1.11) earnings per share for the quarter, beating the consensus estimate of ($1.20) by $0.09, reports. Wolfspeed had a negative return on equity of 37.76% and a negative net margin of 107.93%. The firm had revenue of $194.70 million for the quarter, compared to analysts’ expectations of $200.11 million. Wolfspeed updated its Q2 guidance to ($1.14) – $0.89 EPS and its Q2 2025 guidance to -1.140–0.890 EPS.

Wolfspeed Trading Up 15.4 %

Shares of NYSE WOLF traded up $1.28 during trading hours on Friday, reaching $9.61. The stock had a trading volume of 9,196,058 shares, compared to its average volume of 6,629,192. The company has a current ratio of 4.51, a quick ratio of 3.85 and a debt-to-equity ratio of 6.99. Wolfspeed has a 52-week low of $7.28 and a 52-week high of $47.43. The business’s fifty day moving average price is $10.92 and its two-hundred day moving average price is $18.16. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of -1.31 and a beta of 1.46.

Hedge Funds Weigh In On Wolfspeed

Several institutional investors and hedge funds have recently added to or reduced their stakes in WOLF. Iridian Asset Management LLC CT grew its position 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 purchasing an additional 397,057 shares during the last quarter. Lazard Asset Management LLC raised its position in shares of Wolfspeed by 292,375.0% in the first quarter. Lazard Asset Management LLC now owns 70,194 shares of the company’s stock worth $2,070,000 after acquiring an additional 70,170 shares during the period. Rheos Capital Works Inc. increased its holdings in Wolfspeed by 140.8% in the 3rd quarter. Rheos Capital Works Inc. now owns 427,500 shares of the company’s stock worth $4,147,000 after acquiring an additional 250,000 shares in the last quarter. Vanguard Group Inc. lifted its stake in Wolfspeed by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 13,079,067 shares of the company’s stock valued at $385,832,000 after buying an additional 449,732 shares in the last quarter. Finally, Boston Partners acquired a new stake in shares of Wolfspeed in the first quarter valued at about $1,621,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Morgan Stanley raised their target price on shares of Wolfspeed from $10.00 to $15.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. The Goldman Sachs Group lowered their price objective on shares of Wolfspeed from $22.00 to $19.00 and set a “buy” rating on the stock in a research report on Thursday. Susquehanna cut their price objective on shares of Wolfspeed from $16.00 to $11.00 and set a “neutral” rating for the company in a research note on Thursday. Deutsche Bank Aktiengesellschaft cut their price target on shares of Wolfspeed from $17.00 to $14.00 and set a “hold” rating on the stock in a report on Thursday, August 22nd. Finally, Roth Mkm lowered their price target on Wolfspeed from $25.00 to $20.00 and set a “buy” rating for the company in a research report on Thursday. Two analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Wolfspeed has an average rating of “Hold” and an average price target of $17.36.

Read Our Latest Report on WOLF

About Wolfspeed

(Get Free Report)

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.

See Also

Earnings History for Wolfspeed (NYSE:WOLF)

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