Wolfspeed (WOLF) Projected to Post Quarterly Earnings on Wednesday

Wolfspeed (NYSE:WOLF) is projected to announce its earnings results after the market closes on Wednesday, January 29th. Analysts expect the company to announce earnings of ($0.90) per share and revenue of $188,250.00 billion for the quarter. Investors interested in listening to the company’s conference call can do so using this link.

Wolfspeed Price Performance

WOLF stock opened at $6.06 on Tuesday. Wolfspeed has a 52-week low of $4.66 and a 52-week high of $35.41. The business has a fifty day moving average of $7.51 and a two-hundred day moving average of $10.91. The stock has a market cap of $773.28 million, a price-to-earnings ratio of -1.02 and a beta of 1.43. The company has a quick ratio of 2.54, a current ratio of 3.14 and a debt-to-equity ratio of 9.82.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on WOLF shares. The Goldman Sachs Group dropped their price target on shares of Wolfspeed from $19.00 to $17.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Piper Sandler reiterated an “overweight” rating and issued a $18.00 target price (down previously from $20.00) on shares of Wolfspeed in a report on Thursday, November 7th. Susquehanna decreased their price target on Wolfspeed from $11.00 to $7.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 22nd. Morgan Stanley lifted their price objective on Wolfspeed from $10.00 to $15.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Finally, JPMorgan Chase & Co. cut their price objective on Wolfspeed from $20.00 to $17.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. Three investment 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’s stock. According to MarketBeat.com, Wolfspeed has a consensus rating of “Hold” and an average price target of $16.79.

Insider Activity at Wolfspeed

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

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.