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

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

A number of other research analysts have also weighed in on WOLF. Piper Sandler reduced their target price on Wolfspeed from $55.00 to $45.00 and set an overweight rating for the company in a report on Thursday, February 1st. Susquehanna reduced their target price on Wolfspeed from $35.00 to $25.00 and set a neutral rating for the company in a report on Tuesday. Wells Fargo & Company reissued an equal weight rating and set a $30.00 price objective (down previously from $55.00) on shares of Wolfspeed in a report on Wednesday, April 3rd. Mizuho initiated coverage on Wolfspeed in a report on Friday, April 5th. They set a neutral rating and a $30.00 price objective for the company. Finally, JPMorgan Chase & Co. cut their price objective on Wolfspeed from $43.00 to $35.00 and set a neutral rating for the company in a report on Thursday, April 11th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $41.88.

Wolfspeed Stock Up 5.5 %

WOLF stock opened at $26.24 on Tuesday. The company has a quick ratio of 4.58, a current ratio of 5.13 and a debt-to-equity ratio of 4.50. The firm has a market capitalization of $3.30 billion, a PE ratio of -4.32 and a beta of 1.66. Wolfspeed has a twelve month low of $21.85 and a twelve month high of $70.42. The stock has a 50-day simple moving average of $26.56 and a two-hundred day simple moving average of $32.34.

Wolfspeed (NYSE:WOLF) last posted its earnings results on Wednesday, January 31st. The company reported ($0.69) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.79) by $0.10. The business had revenue of $208.40 million during the quarter, compared to analyst estimates of $205.94 million. Wolfspeed had a negative return on equity of 19.35% and a negative net margin of 87.35%. On average, equities analysts predict that Wolfspeed will post -3.05 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Darren R. Jackson bought 10,000 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The stock was bought at an average price of $25.80 per share, for a total transaction of $258,000.00. Following the transaction, the director now directly owns 49,021 shares of the company’s stock, valued at approximately $1,264,741.80. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.62% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. State of Michigan Retirement System boosted its position in Wolfspeed by 1.0% during the 4th quarter. State of Michigan Retirement System now owns 30,022 shares of the company’s stock valued at $1,306,000 after buying an additional 300 shares during the period. DekaBank Deutsche Girozentrale boosted its holdings in shares of Wolfspeed by 2.8% during the third quarter. DekaBank Deutsche Girozentrale now owns 11,573 shares of the company’s stock worth $435,000 after purchasing an additional 317 shares during the period. Independence Bank of Kentucky grew its stake in shares of Wolfspeed by 97.0% in the fourth quarter. Independence Bank of Kentucky now owns 711 shares of the company’s stock worth $31,000 after purchasing an additional 350 shares during the last quarter. Fox Run Management L.L.C. increased its holdings in Wolfspeed by 3.4% during the 3rd quarter. Fox Run Management L.L.C. now owns 13,407 shares of the company’s stock valued at $511,000 after purchasing an additional 437 shares during the period. Finally, Fifth Third Bancorp increased its holdings 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 purchasing an additional 452 shares during the period.

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.