Wolfspeed (NYSE:WOLF) Price Target Cut to $14.00 by Analysts at Deutsche Bank Aktiengesellschaft

Wolfspeed (NYSE:WOLF) had its target price cut by equities research analysts at Deutsche Bank Aktiengesellschaft from $17.00 to $14.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft’s target price suggests a potential upside of 6.46% from the company’s current price.

Other equities research analysts have also recently issued research reports about the company. The Goldman Sachs Group cut their target price on Wolfspeed from $48.00 to $28.00 and set a “buy” rating on the stock in a research note on Thursday. William Blair lowered Wolfspeed from an “outperform” rating to a “market perform” rating in a research report on Thursday, May 2nd. New Street Research lowered Wolfspeed from a “buy” rating to a “neutral” rating and set a $18.00 price objective on the stock. in a report on Wednesday, August 7th. Citigroup cut their target price on Wolfspeed from $29.00 to $25.00 and set a “neutral” rating for the company in a research report on Thursday, May 2nd. Finally, Piper Sandler cut their target price on Wolfspeed from $35.00 to $20.00 and set an “overweight” rating for the company in a research report on Thursday. One analyst has rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $27.53.

Wolfspeed Trading Down 2.7 %

Shares of Wolfspeed stock traded down $0.36 during trading on Thursday, hitting $13.15. 12,675,406 shares of the company were exchanged, compared to its average volume of 4,665,132. Wolfspeed has a 1-year low of $11.53 and a 1-year high of $49.32. The company has a debt-to-equity ratio of 5.55, a current ratio of 4.58 and a quick ratio of 4.00. The firm has a market capitalization of $1.65 billion, a P/E ratio of -2.04 and a beta of 1.60. The firm’s fifty day moving average price is $20.16 and its 200 day moving average price is $24.32.

Insider Buying and Selling at Wolfspeed

In other news, Director Marvin Riley bought 1,866 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was purchased at an average cost of $27.05 per share, for a total transaction of $50,475.30. Following the completion of the transaction, the director now owns 13,297 shares of the company’s stock, valued at $359,683.85. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.62% of the company’s stock.

Institutional Investors Weigh In On Wolfspeed

Several institutional investors and hedge funds have recently made changes to their positions in WOLF. TFO Wealth Partners LLC increased its stake in shares of Wolfspeed by 57,400.0% in the fourth quarter. TFO Wealth Partners LLC now owns 575 shares of the company’s stock valued at $25,000 after buying an additional 574 shares during the period. Mather Group LLC. increased its stake in shares of Wolfspeed by 385.5% in the second quarter. Mather Group LLC. now owns 1,175 shares of the company’s stock valued at $27,000 after buying an additional 933 shares during the period. Fifth Third Bancorp increased its stake in shares of 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 buying an additional 452 shares during the period. Signaturefd LLC increased its stake in shares of Wolfspeed by 284.3% in the second quarter. Signaturefd LLC now owns 2,087 shares of the company’s stock valued at $48,000 after buying an additional 1,544 shares during the period. Finally, Advisors Asset Management Inc. increased its stake in shares of Wolfspeed by 64.8% in the first quarter. Advisors Asset Management Inc. now owns 1,757 shares of the company’s stock valued at $52,000 after buying an additional 691 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.