Wolfspeed (NYSE:WOLF) Shares Up 12.3% – What’s Next?

Wolfspeed, Inc. (NYSE:WOLF) shares were up 12.3% during trading on Wednesday . The company traded as high as $19.81 and last traded at $19.5440. Approximately 1,778,649 shares traded hands during mid-day trading, a decline of 66% from the average daily volume of 5,242,493 shares. The stock had previously closed at $17.40.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Wolfspeed in a research report on Saturday, September 27th. Wall Street Zen raised shares of Wolfspeed from a “sell” rating to a “hold” rating in a research report on Monday, November 3rd. Finally, Susquehanna lifted their price target on shares of Wolfspeed to $30.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 22nd. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $9.86.

Wolfspeed Stock Up 12.2%

The stock has a market capitalization of $504.69 million and a P/E ratio of -30.98. The company has a fifty day moving average price of $18.05 and a 200-day moving average price of $7.52.

Wolfspeed (NYSE:WOLF) last released its quarterly earnings results on Wednesday, October 29th. The company reported ($0.63) earnings per share for the quarter, beating the consensus estimate of ($0.68) by $0.05. The firm had revenue of $196.80 million for the quarter, compared to analysts’ expectations of $195.37 million. Wolfspeed has set its Q2 2026 guidance at EPS. As a group, research analysts expect that Wolfspeed, Inc. will post -4 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Wolfspeed

Large investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. lifted its holdings in Wolfspeed by 176.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,380,499 shares of the company’s stock valued at $4,224,000 after buying an additional 881,603 shares in the last quarter. South Dakota Investment Council boosted its holdings in shares of Wolfspeed by 121.8% in the first quarter. South Dakota Investment Council now owns 1,591,056 shares of the company’s stock valued at $4,869,000 after purchasing an additional 873,574 shares during the period. Nuveen LLC bought a new position in Wolfspeed in the first quarter worth approximately $1,365,000. Jump Financial LLC purchased a new position in Wolfspeed during the 1st quarter worth $4,402,000. Finally, GMT Capital Corp purchased a new position in Wolfspeed during the 1st quarter worth $2,593,000.

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.