Analysts Set Wolfspeed, Inc. (NYSE:WOLF) Target Price at $17.36

Wolfspeed, Inc. (NYSE:WOLF) has been given a consensus recommendation of “Hold” by the sixteen brokerages that are covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $17.21.

Several brokerages have recently weighed in on WOLF. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Wolfspeed from $17.00 to $14.00 and set a “hold” rating for the company in a research note on Thursday, August 22nd. New Street Research downgraded shares of Wolfspeed from a “buy” rating to a “neutral” rating and set a $18.00 price objective on the stock. in a research note on Wednesday, August 7th. The Goldman Sachs Group dropped their target price on shares of Wolfspeed from $22.00 to $19.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Piper Sandler reissued an “overweight” rating and set a $18.00 target price (down from $20.00) on shares of Wolfspeed in a report on Thursday, November 7th. Finally, TD Cowen dropped their target price on shares of Wolfspeed from $25.00 to $15.00 and set a “hold” rating on the stock in a report on Thursday, August 22nd.

Wolfspeed Stock Performance

Shares of WOLF stock opened at $8.44 on Monday. The company has a debt-to-equity ratio of 9.82, a quick ratio of 2.54 and a current ratio of 3.14. Wolfspeed has a one year low of $6.10 and a one year high of $47.43. The company has a 50 day moving average price of $10.70 and a 200 day moving average price of $16.71. The firm has a market capitalization of $1.08 billion, a price-to-earnings ratio of -1.42 and a beta of 1.46.

Insider Buying and Selling

In other Wolfspeed news, Director Darren R. Jackson acquired 36,975 shares of Wolfspeed stock in a transaction dated Wednesday, November 20th. The stock was bought at an average price of $6.76 per share, for a total transaction of $249,951.00. Following the transaction, the director now owns 85,996 shares in the company, valued at approximately $581,332.96. This trade represents a 75.43 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Thomas H. Werner acquired 37,500 shares of Wolfspeed stock in a transaction dated Wednesday, November 20th. The shares were acquired at an average price of $6.53 per share, with a total value of $244,875.00. Following the transaction, the chairman now owns 108,549 shares in the company, valued at approximately $708,824.97. This represents a 52.78 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.84% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Mather Group LLC. lifted its position in shares of Wolfspeed by 385.5% in the second quarter. Mather Group LLC. now owns 1,175 shares of the company’s stock worth $27,000 after purchasing an additional 933 shares in the last quarter. Eastern Bank purchased a new stake in shares of Wolfspeed in the third quarter worth approximately $27,000. GAMMA Investing LLC lifted its position in shares of Wolfspeed by 416.4% in the third quarter. GAMMA Investing LLC now owns 4,544 shares of the company’s stock worth $44,000 after purchasing an additional 3,664 shares in the last quarter. Signaturefd LLC lifted its position in shares of Wolfspeed by 284.3% in the second quarter. Signaturefd LLC now owns 2,087 shares of the company’s stock worth $48,000 after purchasing an additional 1,544 shares in the last quarter. Finally, Advisors Asset Management Inc. lifted its position in shares of Wolfspeed by 64.8% in the first quarter. Advisors Asset Management Inc. now owns 1,757 shares of the company’s stock worth $52,000 after purchasing an additional 691 shares in 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.