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Wolfspeed (WOLF) Market Perform Rating Reaffirmed by Oppenheimer

Wolfspeed (WOLF) Market Perform Rating Reaffirmed by Oppenheimer


Oppenheimer reissues market perform rating for stocks Wolf speed (NYSE:WOLFFree Report) In a research note published on Tuesday, Benzinga reports.

Other equities research analysts have also issued research reports on the stock. Roth Mkm restated a buy rating on shares of Wolfspeed and set a $50.00 target price in a report on Tuesday, April 30. Canaccord Genuity Group lowered their target price on Wolfspeed from $47.00 to $45.00 and set a buy rating for the company in a research report on Tuesday, June 25. TD Cowen lowered their buy rating on Wolfspeed to a hold rating and lowered their target price for the company from $40.00 to $25.00 in a research note on Thursday, May 2. Wells Fargo & Company reissued an equal weight rating on shares of Wolfspeed and lowered them from $55.00 to $30.00 in a research note on Wednesday, April 3. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on Wolfspeed from $30.00 to $25.00 and set a hold rating on the stock in a research report on Tuesday, May 7. One analyst has rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company’s stock. The stock currently has a Hold consensus rating and a consensus price target of $35.43, according to data from MarketBeat.com.

Get our latest stock analysis on Wolfspeed

Wolfspeed Trading Down 5.7%

NYSE WOLF It opened at $23.06 on Tuesday. The company has a quick ratio of 4.00, a current ratio of 4.58 and a debt-to-equity ratio of 5.55. The company has a market cap of $2.90 billion, a P/E ratio of -3.57 and a beta of 1.60. The stock’s 50-day moving average is $25.44 and its 200-day moving average is $28.50. Wolfspeed has a twelve-month low of $20.63 and a twelve-month high of $70.42.

Wolf speed (NYSE:WOLFGet a Free Report) released its latest quarter earnings results on Wednesday, May 1. The company reported ($0.79) EPS for the quarter, beating analysts’ consensus estimates of ($0.82) by $0.03. The business had revenue of $200.70 million during the quarter, compared to analysts’ expectations of $201.49 million. Wolfspeed’s return on equity was 27.37% and its net margin was negative 96.12%. Research analysts estimate that Wolfspeed will report -3.21 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Marvin Riley bought 1,866 shares of the company’s stock in a transaction that occurred on Tuesday, May 28. The shares were purchased at an average cost of $27.05 per share, for a total transaction of $50,475.30. Following the completion of the purchase, the director now owns 13,297 shares of the company’s stock, valued at approximately $359,683.85. The transaction was disclosed in a filing with the Securities and Exchange Commission, which can be accessed at: this hypertext0.85% of the company’s shares are owned by company insiders.

Wolfspeed Corporate Trading

Institutional investors have recently added to or reduced their stakes in the company. TFO Wealth Partners LLC increased its stake in Wolfspeed by 57,400.0% in the 4th quarter. TFO Wealth Partners LLC now owns 575 shares of the company worth $25,000 after purchasing an additional 574 shares in the last quarter. Independence Bank of Kentucky increased its position in shares of Wolfspeed by 97.0% in the fourth quarter. Independence Bank of Kentucky now owns 711 shares of the company worth $31,000 after purchasing an additional 350 shares in the last quarter. Rakuten Securities Inc. purchased a new stake in shares of Wolfspeed in the fourth quarter worth about $48,000. Mather Group LLC. increased its position in Wolfspeed by 385.5% in the second quarter. Mather Group LLC. It now owns 1,175 shares of the company’s stock worth $27,000 after purchasing an additional 933 shares in the last quarter. Finally, Fifth Third Bancorp increased its holdings in Wolfspeed by 56.9% in the 1st quarter. Fifth Third Bancorp now owns 1,246 shares of the company’s stock worth $37,000.

Wolfspeed Company Profile

(Get a Free Report)

Wolfspeed, Inc. operates as a strong semiconductor company focused on silicon carbide and gallium nitride (GaN) technologies in Europe, Hong Kong, China, the rest of Asia Pacific, the United States and internationally. It offers silicon carbide and GaN materials, including bare silicon carbide wafers, epitaxial wafers and GaN epitaxial layers on silicon carbide wafers to manufacture products for RF, power and other applications.

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