Wolfspeed (NYSE:WOLF) Given New $30.00 Price Target at Deutsche Bank Aktiengesellschaft

Wolfspeed (NYSE:WOLF) had its price objective decreased by Deutsche Bank Aktiengesellschaft from $35.00 to $30.00 in a research note released on Tuesday morning, Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a hold rating on the stock.

Other analysts have also issued research reports about the stock. JPMorgan Chase & Co. dropped their price target on shares of Wolfspeed from $43.00 to $35.00 and set a neutral rating on the stock in a research report on Thursday, April 11th. Wells Fargo & Company reaffirmed an equal weight rating and set a $30.00 price objective (down from $55.00) on shares of Wolfspeed in a report on Wednesday, April 3rd. Mizuho initiated coverage on shares of Wolfspeed in a research note on Friday, April 5th. They issued a neutral rating and a $30.00 price target on the stock. Susquehanna decreased their price target on shares of Wolfspeed from $35.00 to $25.00 and set a neutral rating on the stock in a research note on Tuesday. Finally, Piper Sandler decreased their price target on shares of Wolfspeed from $55.00 to $45.00 and set an overweight rating on the stock in a research note on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Hold and a consensus target price of $41.88.

Wolfspeed Stock Down 5.7 %

NYSE:WOLF opened at $22.57 on Tuesday. The firm has a market capitalization of $2.84 billion, a P/E ratio of -3.71 and a beta of 1.66. Wolfspeed has a 1-year low of $21.85 and a 1-year high of $70.42. The company’s fifty day moving average price is $26.71 and its 200-day moving average price is $32.45. The company has a debt-to-equity ratio of 4.50, a current ratio of 5.13 and a quick ratio of 4.58.

Wolfspeed (NYSE:WOLF) last released its quarterly earnings data on Wednesday, January 31st. The company reported ($0.69) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.79) by $0.10. The firm had revenue of $208.40 million for the quarter, compared to analyst estimates of $205.94 million. Wolfspeed had a negative net margin of 87.35% and a negative return on equity of 19.35%. As a group, equities research analysts anticipate that Wolfspeed will post -3.05 EPS for the current year.

Insider Transactions at Wolfspeed

In other Wolfspeed news, Director Darren R. Jackson acquired 10,000 shares of the stock in a transaction dated Friday, February 2nd. The stock was acquired at an average cost of $25.80 per share, with a total value of $258,000.00. Following the transaction, the director now owns 49,021 shares in the company, valued at approximately $1,264,741.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.85% of the company’s stock.

Institutional Trading of Wolfspeed

Institutional investors and hedge funds have recently made changes to their positions in the company. TFO Wealth Partners LLC lifted its holdings in shares of Wolfspeed by 57,400.0% in the 4th quarter. TFO Wealth Partners LLC now owns 575 shares of the company’s stock valued at $25,000 after purchasing an additional 574 shares during the last quarter. Independence Bank of Kentucky raised its stake in 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 acquiring an additional 350 shares during the last quarter. Fifth Third Bancorp raised its stake in Wolfspeed by 56.9% during the 1st quarter. Fifth Third Bancorp now owns 1,246 shares of the company’s stock valued at $37,000 after acquiring an additional 452 shares during the last quarter. Rakuten Securities Inc. purchased a new stake in Wolfspeed during the 4th quarter valued at approximately $48,000. Finally, GAMMA Investing LLC purchased a new stake in Wolfspeed during the 4th quarter valued at approximately $56,000.

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.