Wolfspeed (NYSE:WOLF – Get Free Report) issued an update on its fourth quarter 2024 earnings guidance on Monday morning. The company provided EPS guidance of -0.960–0.830 for the period, compared to the consensus EPS estimate of -0.780. The company issued revenue guidance of $185.0 million-$215.0 million, compared to the consensus revenue estimate of $201.1 million. Wolfspeed also updated its Q4 guidance to $(0.96)-(0.83) EPS.
Wolfspeed Stock Up 4.0 %
Wolfspeed stock opened at $22.97 on Thursday. The company’s 50-day moving average is $25.68 and its 200-day moving average is $29.79. Wolfspeed has a fifty-two week low of $20.63 and a fifty-two week high of $70.42. The company has a debt-to-equity ratio of 5.55, a quick ratio of 4.00 and a current ratio of 4.58.
Wolfspeed (NYSE:WOLF – Get Free Report) last released its quarterly earnings data on Wednesday, May 1st. The company reported ($0.79) earnings per share for the quarter, topping the consensus estimate of ($0.82) by $0.03. The company had revenue of $200.70 million for the quarter, compared to analyst estimates of $201.49 million. Wolfspeed had a negative net margin of 96.12% and a negative return on equity of 27.37%. On average, analysts anticipate that Wolfspeed will post -3.18 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Insiders Place Their Bets
In other Wolfspeed news, Director Marvin Riley bought 1,866 shares of the firm’s stock in a transaction on Tuesday, May 28th. The shares were purchased at an average price of $27.05 per share, for a total transaction of $50,475.30. Following the transaction, the director now directly owns 13,297 shares in the company, valued at approximately $359,683.85. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.62% of the company’s stock.
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.
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