By otakuyassine3@gmail.com 
Wolfspeed (NYSE:WOLF – Free Report) had its target price lowered by The Goldman Sachs Group from $17.00 to $15.00 in a research report sent to investors on Thursday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.
WOLF has been the subject of a number of other reports. Piper Sandler cut their target price on Wolfspeed from $18.00 to $10.00 and set an “overweight” rating for the company in a research report on Thursday. Roth Mkm cut their price objective on Wolfspeed from $25.00 to $20.00 and set a “buy” rating for the company in a report on Thursday, November 7th. StockNews.com raised Wolfspeed to a “sell” rating in a report on Monday, January 6th. Mizuho dropped their price target on shares of Wolfspeed from $10.00 to $6.00 and set an “underperform” rating on the stock in a research report on Tuesday, November 19th. Finally, Canaccord Genuity Group reduced their price objective on shares of Wolfspeed from $25.00 to $18.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $14.86.
Check Out Our Latest Report on Wolfspeed
Wolfspeed Trading Up 1.6 %
Shares of NYSE:WOLF opened at $6.10 on Thursday. The company has a quick ratio of 2.54, a current ratio of 3.14 and a debt-to-equity ratio of 9.82. The company’s 50-day moving average price is $7.49 and its 200 day moving average price is $10.71. The company has a market cap of $778.39 million, a PE ratio of -1.02 and a beta of 1.43. Wolfspeed has a fifty-two week low of $4.66 and a fifty-two week high of $34.63.
Wolfspeed (NYSE:WOLF – Get Free Report) last announced its earnings results on Wednesday, January 29th. The company reported ($1.10) earnings per share for the quarter, missing the consensus estimate of ($0.90) by ($0.20). Wolfspeed had a negative net margin of 93.31% and a negative return on equity of 49.86%. Sell-side analysts anticipate that Wolfspeed will post -4.2 earnings per share for the current year.
Insider Activity
In other news, Director Darren R. Jackson acquired 36,975 shares of Wolfspeed stock in a transaction that occurred on Wednesday, November 20th. The stock was purchased at an average price of $6.76 per share, with a total value of $249,951.00. Following the completion of the transaction, the director now owns 85,996 shares in the company, valued at approximately $581,332.96. This trade represents a 75.43 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Thomas H. Werner bought 37,500 shares of the stock in a transaction on Wednesday, November 20th. The stock was purchased at an average price of $6.53 per share, for a total transaction of $244,875.00. Following the purchase, the chairman now directly owns 108,549 shares of the company’s stock, valued at approximately $708,824.97. This represents a 52.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 78,067 shares of company stock worth $524,747 in the last 90 days. Company insiders own 0.84% of the company’s stock.
Institutional Investors Weigh In On Wolfspeed
Several institutional investors have recently made changes to their positions in WOLF. Eastern Bank bought a new stake in Wolfspeed in the third quarter worth approximately $27,000. R Squared Ltd acquired a new position in Wolfspeed during the fourth quarter worth $28,000. KBC Group NV raised its holdings in Wolfspeed by 76.5% during the fourth quarter. KBC Group NV now owns 6,064 shares of the company’s stock valued at $40,000 after buying an additional 2,629 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Wolfspeed by 416.4% in the third quarter. GAMMA Investing LLC now owns 4,544 shares of the company’s stock worth $44,000 after buying an additional 3,664 shares during the last quarter. Finally, Allworth Financial LP boosted its stake in shares of Wolfspeed by 38.1% during the 4th quarter. Allworth Financial LP now owns 7,060 shares of the company’s stock worth $44,000 after acquiring an additional 1,949 shares in the last quarter.
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.
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