Roth Mkm Lowers Wolfspeed (NYSE:WOLF) Price Target to $20.00

Wolfspeed (NYSE:WOLF) had its price objective reduced by Roth Mkm from $25.00 to $20.00 in a research note issued to investors on Thursday,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts have also recently issued reports on the stock. Deutsche Bank Aktiengesellschaft dropped their target price 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. New Street Research lowered Wolfspeed from a “buy” rating to a “neutral” rating and set a $18.00 price objective on the stock. in a research note on Wednesday, August 7th. Piper Sandler reiterated an “overweight” rating and set a $18.00 target price (down from $20.00) on shares of Wolfspeed in a research note on Thursday. TD Cowen dropped their price target on Wolfspeed from $25.00 to $15.00 and set a “hold” rating on the stock in a research note on Thursday, August 22nd. Finally, Morgan Stanley raised their price target on Wolfspeed from $10.00 to $15.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Wolfspeed has an average rating of “Hold” and an average target price of $17.36.

Wolfspeed Stock Performance

Shares of NYSE WOLF opened at $10.03 on Thursday. The stock has a market capitalization of $1.27 billion, a PE ratio of -1.69 and a beta of 1.46. Wolfspeed has a 52 week low of $7.28 and a 52 week high of $47.43. The stock has a 50 day moving average price of $10.92 and a 200 day moving average price of $18.03. The company has a debt-to-equity ratio of 6.99, a quick ratio of 3.85 and a current ratio of 4.51.

Wolfspeed (NYSE:WOLF) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($1.11) EPS for the quarter, beating the consensus estimate of ($1.20) by $0.09. The company had revenue of $194.70 million during the quarter, compared to the consensus estimate of $200.11 million. Wolfspeed had a negative return on equity of 45.09% and a negative net margin of 93.31%. Analysts predict that Wolfspeed will post -4.07 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Wolfspeed

A number of hedge funds have recently added to or reduced their stakes in the stock. Mather Group LLC. grew its holdings in shares of Wolfspeed by 385.5% during the 2nd quarter. Mather Group LLC. now owns 1,175 shares of the company’s stock worth $27,000 after purchasing an additional 933 shares in the last quarter. Advisors Asset Management Inc. grew its stake in Wolfspeed by 64.8% during the first quarter. Advisors Asset Management Inc. now owns 1,757 shares of the company’s stock worth $52,000 after buying an additional 691 shares in the last quarter. Signaturefd LLC grew its stake in Wolfspeed by 284.3% during the second quarter. Signaturefd LLC now owns 2,087 shares of the company’s stock worth $48,000 after buying an additional 1,544 shares in the last quarter. Eastern Bank bought a new position in Wolfspeed in the 3rd quarter valued at about $27,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Wolfspeed in the 2nd quarter valued at approximately $75,000.

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.