Deutsche Bank Aktiengesellschaft Trims Wolfspeed (NYSE:WOLF) Target Price to $30.00

Wolfspeed (NYSE:WOLF) had its target price cut by Deutsche Bank Aktiengesellschaft from $35.00 to $30.00 in a report released on Tuesday, Benzinga reports. The firm presently has a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft’s target price would suggest a potential upside of 28.48% from the stock’s current price.

Other equities analysts have also recently issued reports about the company. Mizuho started coverage on Wolfspeed in a report on Friday, April 5th. They set a “neutral” rating and a $30.00 price objective for the company. JPMorgan Chase & Co. lowered their price objective on shares of Wolfspeed from $43.00 to $35.00 and set a “neutral” rating on the stock in a research note on Thursday, April 11th. Susquehanna cut their target price on shares of Wolfspeed from $35.00 to $25.00 and set a “neutral” rating for the company in a research report on Tuesday. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $30.00 price target (down previously from $55.00) on shares of Wolfspeed in a report on Wednesday, April 3rd. Finally, Piper Sandler dropped their price objective on shares of Wolfspeed from $55.00 to $45.00 and set an “overweight” rating for the company in a research note on Thursday, February 1st. One research analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $41.88.

Wolfspeed Price Performance

Shares of NYSE WOLF traded down $0.59 during trading on Tuesday, hitting $23.35. 3,119,220 shares of the company were exchanged, compared to its average volume of 4,744,512. The company has a debt-to-equity ratio of 4.50, a current ratio of 5.13 and a quick ratio of 4.58. Wolfspeed has a 1 year low of $21.85 and a 1 year high of $70.42. The company has a market cap of $2.94 billion, a price-to-earnings ratio of -3.84 and a beta of 1.66. The firm’s fifty day moving average price is $26.81 and its 200 day moving average price is $32.53.

Wolfspeed (NYSE:WOLF) last released its quarterly earnings data on Wednesday, January 31st. The company reported ($0.69) EPS for the quarter, topping analysts’ consensus estimates of ($0.79) by $0.10. Wolfspeed had a negative net margin of 87.35% and a negative return on equity of 19.35%. The firm had revenue of $208.40 million for the quarter, compared to the consensus estimate of $205.94 million. On average, sell-side analysts expect that Wolfspeed will post -3.05 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Wolfspeed news, Director Darren R. Jackson purchased 10,000 shares of the stock in a transaction on Friday, February 2nd. The stock was bought at an average price of $25.80 per share, for a total transaction of $258,000.00. Following the acquisition, the director now directly owns 49,021 shares of the company’s stock, valued at $1,264,741.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.85% of the stock is currently owned by company insiders.

Institutional Trading of Wolfspeed

Several large investors have recently bought and sold shares of WOLF. Slow Capital Inc. boosted its holdings in Wolfspeed by 5.9% in the third quarter. Slow Capital Inc. now owns 43,220 shares of the company’s stock valued at $1,647,000 after purchasing an additional 2,419 shares during the last quarter. Hardman Johnston Global Advisors LLC lifted its position in shares of Wolfspeed by 0.9% during the third quarter. Hardman Johnston Global Advisors LLC now owns 633,813 shares of the company’s stock worth $24,148,000 after purchasing an additional 5,760 shares during the last quarter. Commonwealth Equity Services LLC grew its stake in Wolfspeed by 27.0% in the third quarter. Commonwealth Equity Services LLC now owns 39,392 shares of the company’s stock worth $1,501,000 after purchasing an additional 8,374 shares in the last quarter. Raymond James & Associates increased its holdings in Wolfspeed by 1.6% in the third quarter. Raymond James & Associates now owns 181,867 shares of the company’s stock valued at $6,929,000 after buying an additional 2,943 shares during the last quarter. Finally, Weybosset Research & Management LLC lifted its holdings in Wolfspeed by 5.7% during the 3rd quarter. Weybosset Research & Management LLC now owns 13,959 shares of the company’s stock worth $532,000 after buying an additional 748 shares during the last quarter.

About Wolfspeed

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.