Wolfspeed (NYSE:WOLF) PT Lowered to $25.00

Wolfspeed (NYSE:WOLF) had its price target decreased by Citigroup from $29.00 to $25.00 in a research note issued to investors on Thursday, Benzinga reports. Citigroup currently has a neutral rating on the stock.

A number of other equities analysts have also recently commented on WOLF. William Blair cut Wolfspeed from an outperform rating to a market perform rating in a report on Thursday. JPMorgan Chase & Co. reduced their target price on shares of Wolfspeed from $43.00 to $35.00 and set a neutral rating on the stock in a research report on Thursday, April 11th. Canaccord Genuity Group cut their target price on shares of Wolfspeed from $50.00 to $47.00 and set a buy rating on the stock in a research report on Thursday. Roth Mkm reissued a buy rating and issued a $50.00 price target on shares of Wolfspeed in a research report on Tuesday. Finally, TD Cowen downgraded Wolfspeed from a buy rating to a hold rating and dropped their target price for the stock from $40.00 to $25.00 in a research note on Thursday. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Hold and a consensus target price of $37.27.

Wolfspeed Stock Performance

Shares of WOLF traded up $1.77 during midday trading on Thursday, hitting $25.33. 5,927,773 shares of the company traded hands, compared to its average volume of 5,565,011. The company has a quick ratio of 4.58, a current ratio of 4.58 and a debt-to-equity ratio of 5.55. Wolfspeed has a 52 week low of $20.63 and a 52 week high of $70.42. The firm has a 50 day moving average of $26.61 and a 200-day moving average of $32.05.

Wolfspeed (NYSE:WOLF) last posted its earnings results on Wednesday, January 31st. The company reported ($0.69) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.79) by $0.10. Wolfspeed had a negative net margin of 96.12% and a negative return on equity of 27.37%. The firm had revenue of $208.40 million during the quarter, compared to analyst estimates of $205.94 million. As a group, sell-side analysts forecast that Wolfspeed will post -3.05 EPS for the current fiscal year.

Institutional Investors Weigh In On Wolfspeed

A number of institutional investors have recently modified their holdings of the business. TFO Wealth Partners LLC increased its stake in shares of Wolfspeed by 57,400.0% during the fourth quarter. TFO Wealth Partners LLC now owns 575 shares of the company’s stock worth $25,000 after purchasing an additional 574 shares in the last quarter. Independence Bank of Kentucky boosted its holdings in Wolfspeed by 97.0% in the 4th quarter. Independence Bank of Kentucky now owns 711 shares of the company’s stock worth $31,000 after buying an additional 350 shares during the last quarter. Fifth Third Bancorp boosted its holdings in Wolfspeed by 56.9% in the 1st quarter. Fifth Third Bancorp now owns 1,246 shares of the company’s stock worth $37,000 after buying an additional 452 shares during the last quarter. Rakuten Securities Inc. acquired a new position in shares of Wolfspeed during the fourth quarter valued at approximately $48,000. Finally, GAMMA Investing LLC purchased a new position in shares of Wolfspeed in the fourth quarter valued at approximately $56,000.

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.