Research Analysts’ Weekly Ratings Updates for Wolfspeed (WOLF)

A number of firms have modified their ratings and price targets on shares of Wolfspeed (NYSE: WOLF) recently:

• 11/19/2024 – Wolfspeed had its price target lowered by analysts at Mizuho from $10.00 to $6.00. They now have an “underperform” rating on the stock.
• 11/7/2024 – Wolfspeed had its “overweight” rating reaffirmed by analysts at Piper Sandler. They now have a $18.00 price target on the stock, down previously from $20.00.
• 11/7/2024 – Wolfspeed had its price target lowered by analysts at JPMorgan Chase & Co. from $20.00 to $17.00. They now have a “neutral” rating on the stock.
• 11/7/2024 – Wolfspeed had its price target lowered by analysts at Susquehanna from $16.00 to $11.00. They now have a “neutral” rating on the stock.
• 11/7/2024 – Wolfspeed had its price target lowered by analysts at Canaccord Genuity Group Inc. from $25.00 to $18.00. They now have a “buy” rating on the stock.
• 11/7/2024 – Wolfspeed had its price target lowered by analysts at The Goldman Sachs Group, Inc. from $22.00 to $19.00. They now have a “buy” rating on the stock.
• 11/7/2024 – Wolfspeed had its price target lowered by analysts at Roth Mkm from $25.00 to $20.00. They now have a “buy” rating on the stock.
• 10/16/2024 – Wolfspeed had its price target raised by analysts at Morgan Stanley from $10.00 to $15.00. They now have an “equal weight” rating on the stock.
• 10/3/2024 – Wolfspeed was downgraded by analysts at Mizuho from a “neutral” rating to an “underperform” rating. They now have a $8.00 price target on the stock, down previously from $17.00.

Wolfspeed Price Performance

Wolfspeed stock traded up $0.77 during mid-day trading on Monday, reaching $9.21. 6,233,336 shares of the company were exchanged, compared to its average volume of 7,060,948. The company has a fifty day simple moving average of $10.70 and a 200-day simple moving average of $16.71. The firm has a market cap of $1.18 billion, a PE ratio of -1.55 and a beta of 1.46. The company has a debt-to-equity ratio of 9.82, a current ratio of 3.14 and a quick ratio of 2.54. Wolfspeed, Inc. has a 12 month low of $6.10 and a 12 month high of $47.43.

Insider Buying and Selling

In other Wolfspeed news, Director Glenda Dorchak bought 3,592 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were purchased at an average price of $8.33 per share, for a total transaction of $29,921.36. Following the completion of the transaction, the director now directly owns 18,688 shares in the company, valued at approximately $155,671.04. The trade was a 23.79 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman Thomas H. Werner bought 37,500 shares of the stock in a transaction on Wednesday, November 20th. The shares were acquired at an average cost of $6.53 per share, with a total value of $244,875.00. Following the purchase, the chairman now owns 108,549 shares of the company’s stock, valued at approximately $708,824.97. This represents a 52.78 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 78,067 shares of company stock worth $524,747. Company insiders own 0.84% of the company’s stock.

Institutional Investors Weigh In On Wolfspeed

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Mather Group LLC. increased its holdings in Wolfspeed by 385.5% in the 2nd 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. Advisors Asset Management Inc. increased its stake 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 valued at $52,000 after buying an additional 691 shares during the period. Signaturefd LLC raised its holdings in Wolfspeed by 284.3% in the 2nd quarter. Signaturefd LLC now owns 2,087 shares of the company’s stock valued at $48,000 after buying an additional 1,544 shares during the last quarter. Eastern Bank acquired a new stake in Wolfspeed during the 3rd quarter worth approximately $27,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new stake in Wolfspeed during the 2nd quarter worth approximately $75,000.

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.