Deutsche Bank Aktiengesellschaft Lowers Wolfspeed (NYSE:WOLF) Price Target to $30.00

Wolfspeed (NYSE:WOLF) had its price target trimmed by Deutsche Bank Aktiengesellschaft from $35.00 to $30.00 in a research report released on Tuesday, Benzinga reports. The brokerage currently has a hold rating on the stock.

A number of other research firms have also issued reports on WOLF. Piper Sandler reduced their target price on shares of Wolfspeed from $55.00 to $45.00 and set an overweight rating on the stock in a report on Thursday, February 1st. JPMorgan Chase & Co. dropped their price objective 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. Mizuho began coverage on shares of Wolfspeed in a research report on Friday, April 5th. They issued a neutral rating and a $30.00 price objective on the stock. Wells Fargo & Company reissued an equal weight rating and issued a $30.00 price objective (down from $55.00) on shares of Wolfspeed in a research report on Wednesday, April 3rd. Finally, Susquehanna dropped their price objective on shares of Wolfspeed from $35.00 to $25.00 and set a neutral rating on the stock in a research report on Tuesday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Hold and an average price target of $41.88.

Wolfspeed Stock Performance

Wolfspeed stock opened at $26.24 on Tuesday. The firm has a 50 day simple moving average of $26.56 and a 200-day simple moving average of $32.34. Wolfspeed has a 1-year low of $21.85 and a 1-year high of $70.42. The company has a debt-to-equity ratio of 4.50, a current ratio of 5.13 and a quick ratio of 4.58. The stock has a market cap of $3.30 billion, a price-to-earnings ratio of -4.32 and a beta of 1.66.

Wolfspeed (NYSE:WOLF) last issued its quarterly earnings data on Wednesday, January 31st. The company reported ($0.69) EPS for the quarter, topping the consensus estimate 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%. On average, analysts expect that Wolfspeed will post -3.05 EPS for the current year.

Insiders Place Their Bets

In other Wolfspeed news, Director Darren R. Jackson acquired 10,000 shares of the stock in a transaction on Friday, February 2nd. The shares were bought 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 of the company’s stock, valued at approximately $1,264,741.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.62% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. TFO Wealth Partners LLC grew its position in Wolfspeed by 57,400.0% during the 4th quarter. TFO Wealth Partners LLC now owns 575 shares of the company’s stock worth $25,000 after purchasing an additional 574 shares during the last quarter. Independence Bank of Kentucky lifted its stake in shares of Wolfspeed by 97.0% in the 4th quarter. Independence Bank of Kentucky now owns 711 shares of the company’s stock worth $31,000 after acquiring an additional 350 shares during the period. Rakuten Securities Inc. acquired a new stake in shares of Wolfspeed in the 4th quarter worth $48,000. Fifth Third Bancorp lifted its stake in shares of Wolfspeed by 56.9% in the 1st quarter. Fifth Third Bancorp now owns 1,246 shares of the company’s stock worth $37,000 after acquiring an additional 452 shares during the period. Finally, GAMMA Investing LLC acquired a new stake in shares of Wolfspeed in the 4th quarter worth $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.