Mizuho Trims Wolfspeed (NYSE:WOLF) Target Price to $27.00

Wolfspeed (NYSE:WOLF) had its price target lowered by Mizuho from $30.00 to $27.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a neutral rating on the stock.

WOLF has been the topic of a number of other reports. TD Cowen downgraded shares of Wolfspeed from a buy rating to a hold rating and dropped their price objective for the company from $40.00 to $25.00 in a research report on Thursday. 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. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Wolfspeed from $35.00 to $30.00 and set a hold rating on the stock in a research report on Tuesday, April 23rd. William Blair downgraded shares of Wolfspeed from an outperform rating to a market perform rating in a research report on Thursday. Finally, Roth Mkm reaffirmed a buy rating and issued a $50.00 target price on shares of Wolfspeed in a research report on Tuesday, April 30th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Hold and a consensus price target of $37.27.

Wolfspeed Price Performance

Wolfspeed stock opened at $25.33 on Thursday. The firm has a market cap of $3.19 billion, a PE ratio of -3.92 and a beta of 1.64. Wolfspeed has a 52-week low of $20.63 and a 52-week high of $70.42. The company has a quick ratio of 4.58, a current ratio of 4.58 and a debt-to-equity ratio of 5.55. The company’s 50 day moving average is $26.61 and its two-hundred day moving average is $32.02.

Wolfspeed (NYSE:WOLF) last announced its quarterly earnings data on Wednesday, January 31st. The company reported ($0.69) EPS for the quarter, beating analysts’ consensus estimates of ($0.79) by $0.10. Wolfspeed had a negative net margin of 96.12% and a negative return on equity of 27.37%. The company had revenue of $208.40 million for the quarter, compared to the consensus estimate of $205.94 million. On average, research analysts expect that Wolfspeed will post -3.05 EPS for the current fiscal year.

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 grew its position in Wolfspeed by 97.0% during the 4th 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. Fifth Third Bancorp grew its position in Wolfspeed by 56.9% during the 1st quarter. Fifth Third Bancorp now owns 1,246 shares of the company’s stock worth $37,000 after purchasing an additional 452 shares during the last quarter. Rakuten Securities Inc. purchased a new position in Wolfspeed during the 4th quarter worth $48,000. Finally, GAMMA Investing LLC purchased a new position in Wolfspeed during 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.