Wolfspeed (NYSE:WOLF) Price Target Cut to $27.00

Wolfspeed (NYSE:WOLF) had its price objective trimmed by Mizuho from $30.00 to $27.00 in a report issued on Thursday, Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other brokerages also recently issued reports on WOLF. JPMorgan Chase & Co. reduced their price objective on shares of Wolfspeed from $43.00 to $35.00 and set a neutral rating for the company in a research report on Thursday, April 11th. Roth Mkm reaffirmed a buy rating and set a $50.00 price target on shares of Wolfspeed in a research report on Tuesday, April 30th. Wells Fargo & Company reissued an equal weight rating and issued a $30.00 price objective (down previously from $55.00) on shares of Wolfspeed in a research report on Wednesday, April 3rd. TD Cowen cut Wolfspeed from a buy rating to a hold rating and lowered their target price for the stock from $40.00 to $25.00 in a research note on Thursday. Finally, Susquehanna cut their price target on shares of Wolfspeed from $35.00 to $25.00 and set a neutral rating on the stock in a report on Tuesday, April 23rd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, Wolfspeed currently has a consensus rating of Hold and a consensus price target of $37.27.

Wolfspeed Price Performance

WOLF opened at $25.33 on Thursday. Wolfspeed has a 1 year low of $20.63 and a 1 year high of $70.42. The company has a debt-to-equity ratio of 5.55, a current ratio of 4.58 and a quick ratio of 4.58. The company has a market capitalization of $3.19 billion, a price-to-earnings ratio of -3.92 and a beta of 1.64. The firm’s fifty day moving average price is $26.61 and its two-hundred day moving average price is $32.01.

Institutional Trading of Wolfspeed

Institutional investors have recently modified their holdings of the business. State of Michigan Retirement System raised its holdings in Wolfspeed by 1.0% during the 4th quarter. State of Michigan Retirement System now owns 30,022 shares of the company’s stock valued at $1,306,000 after acquiring an additional 300 shares during the period. DekaBank Deutsche Girozentrale grew its position in shares of Wolfspeed by 2.8% in the third quarter. DekaBank Deutsche Girozentrale now owns 11,573 shares of the company’s stock valued at $435,000 after purchasing an additional 317 shares in the last quarter. Independence Bank of Kentucky raised its stake in shares of Wolfspeed by 97.0% during the 4th quarter. Independence Bank of Kentucky now owns 711 shares of the company’s stock valued at $31,000 after purchasing an additional 350 shares during the period. Fox Run Management L.L.C. lifted its holdings in Wolfspeed by 3.4% during the 3rd quarter. Fox Run Management L.L.C. now owns 13,407 shares of the company’s stock worth $511,000 after purchasing an additional 437 shares in the last quarter. Finally, Fifth Third Bancorp boosted its stake 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 purchasing an additional 452 shares during the period.

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.