Wolfspeed (NYSE:WOLF) PT Lowered to $25.00 at Deutsche Bank Aktiengesellschaft

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

Several other analysts have also recently issued reports on WOLF. JPMorgan Chase & Co. lowered their price objective on shares of Wolfspeed from $43.00 to $35.00 and set a neutral rating for the company in a research note on Thursday, April 11th. Roth Mkm restated a buy rating and set a $50.00 price target on shares of Wolfspeed in a research note on Tuesday, April 30th. Piper Sandler cut their price objective on Wolfspeed from $55.00 to $45.00 and set an overweight rating on the stock in a report on Thursday, February 1st. Wells Fargo & Company reiterated an equal weight rating and set a $30.00 target price (down previously from $55.00) on shares of Wolfspeed in a report on Wednesday, April 3rd. Finally, Mizuho reduced their price target on shares of Wolfspeed from $30.00 to $27.00 and set a neutral rating on the stock in a research report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Wolfspeed presently has an average rating of Hold and a consensus target price of $36.93.

Wolfspeed Price Performance

WOLF opened at $25.13 on Tuesday. Wolfspeed has a 1 year low of $20.63 and a 1 year high of $70.42. The company’s 50 day simple moving average is $26.54 and its 200 day simple moving average is $31.80. 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.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. TFO Wealth Partners LLC increased its holdings 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 increased 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 buying an additional 350 shares during the last quarter. Rakuten Securities Inc. acquired a new stake in Wolfspeed in the fourth quarter valued at $48,000. Fifth Third Bancorp raised its holdings in Wolfspeed by 56.9% in the first quarter. Fifth Third Bancorp now owns 1,246 shares of the company’s stock valued at $37,000 after acquiring an additional 452 shares in the last quarter. Finally, GAMMA Investing LLC bought a new position in Wolfspeed during the 4th quarter valued at $56,000.

About Wolfspeed

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.