Deutsche Bank Aktiengesellschaft Cuts Wolfspeed (NYSE:WOLF) Price Target to $25.00

Wolfspeed (NYSE:WOLF) had its price target trimmed by Deutsche Bank Aktiengesellschaft from $30.00 to $25.00 in a research note released on Tuesday morning, Benzinga reports. The firm currently has a hold rating on the stock.

Several other research firms have also recently weighed in on WOLF. Mizuho reduced their price objective on Wolfspeed from $30.00 to $27.00 and set a neutral rating for the company in a research report on Thursday, May 2nd. Citigroup reduced their price target on shares of Wolfspeed from $29.00 to $25.00 and set a neutral rating for the company in a report on Thursday, May 2nd. William Blair downgraded shares of Wolfspeed from an outperform rating to a market perform rating in a report on Thursday, May 2nd. Piper Sandler dropped their price objective 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. Finally, TD Cowen cut shares of Wolfspeed from a buy rating to a hold rating and reduced their target price for the company from $40.00 to $25.00 in a research note on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of Hold and a consensus price target of $36.93.

Wolfspeed Price Performance

NYSE WOLF opened at $25.13 on Tuesday. The stock has a 50-day simple moving average of $26.54 and a 200 day simple moving average of $31.80. Wolfspeed has a twelve month low of $20.63 and a twelve month high of $70.42. The stock has a market capitalization of $3.16 billion, a PE ratio of -3.89 and a beta of 1.64. The company has a debt-to-equity ratio of 5.55, a quick ratio of 4.00 and a current ratio of 4.58.

Hedge Funds Weigh In On Wolfspeed

Hedge funds have recently modified their holdings of the stock. TFO Wealth Partners LLC boosted its stake in 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 buying an additional 574 shares in the last quarter. Independence Bank of Kentucky lifted its holdings in shares of Wolfspeed by 97.0% during the fourth 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 period. Rakuten Securities Inc. bought a new position in shares of Wolfspeed during the fourth quarter valued at $48,000. Fifth Third Bancorp boosted 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 valued at $37,000 after purchasing an additional 452 shares in the last quarter. Finally, GAMMA Investing LLC bought a new stake in shares of Wolfspeed in the 4th quarter worth about $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.