Wolfspeed (NYSE:WOLF) Raised to Hold at Wall Street Zen

Wolfspeed (NYSE:WOLF) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Monday.

A number of other research firms also recently commented on WOLF. Weiss Ratings restated a “sell (e+)” rating on shares of Wolfspeed in a research report on Saturday, September 27th. Susquehanna boosted their price target on shares of Wolfspeed to $30.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 22nd. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat, Wolfspeed presently has an average rating of “Reduce” and a consensus price target of $11.78.

Wolfspeed Stock Performance

WOLF stock opened at $21.72 on Monday. Wolfspeed has a 52 week low of $8.05 and a 52 week high of $36.60. The firm’s 50-day moving average is $16.34 and its two-hundred day moving average is $6.97.

Institutional Trading of Wolfspeed

Hedge funds and other institutional investors have recently made changes to their positions in the business. N.E.W. Advisory Services LLC bought a new stake in shares of Wolfspeed in the 1st quarter worth approximately $28,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Wolfspeed during the second quarter valued at approximately $28,000. Caitlin John LLC acquired a new stake in shares of Wolfspeed during the second quarter valued at approximately $31,000. Wealthfront Advisers LLC acquired a new stake in shares of Wolfspeed during the first quarter valued at approximately $32,000. Finally, MAI Capital Management raised its holdings in shares of Wolfspeed by 894.9% during the first quarter. MAI Capital Management now owns 10,815 shares of the company’s stock valued at $33,000 after acquiring an additional 9,728 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.