Wolfspeed (NYSE:WOLF) Issues Q1 Earnings Guidance

Wolfspeed (NYSE:WOLF) updated its first quarter earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $(1.09)-$(0.90) for the period, compared to the consensus estimate of ($0.86). The company issued revenue guidance of $185-215 million, compared to the consensus revenue estimate of $209.96 million. Wolfspeed also updated its Q1 2025 guidance to -1.090–0.900 EPS.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Oppenheimer reiterated a market perform rating on shares of Wolfspeed in a research note on Tuesday, July 9th. TD Cowen downgraded Wolfspeed from a buy rating to a hold rating and cut their target price for the stock from $40.00 to $25.00 in a research note on Thursday, May 2nd. Canaccord Genuity Group cut their target price on Wolfspeed from $47.00 to $45.00 and set a buy rating for the company in a research note on Tuesday, June 25th. Susquehanna cut their target price on Wolfspeed from $25.00 to $23.00 and set a neutral rating for the company in a research note on Thursday, May 2nd. Finally, Deutsche Bank Aktiengesellschaft cut their target price on Wolfspeed from $30.00 to $25.00 and set a hold rating for the company in a research note on Tuesday, May 7th. 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. Based on data from MarketBeat, the company presently has an average rating of Hold and a consensus target price of $33.73.

Wolfspeed Price Performance

Shares of NYSE WOLF traded up $0.34 during trading hours on Wednesday, reaching $13.51. 7,728,303 shares of the stock traded hands, compared to its average volume of 4,607,728. The company has a market capitalization of $1.70 billion, a P/E ratio of -2.07 and a beta of 1.60. The company has a quick ratio of 4.00, a current ratio of 4.58 and a debt-to-equity ratio of 5.55. Wolfspeed has a 52-week low of $11.53 and a 52-week high of $49.32. The company’s 50-day simple moving average is $20.48 and its two-hundred day simple moving average is $24.40.

Insider Activity at Wolfspeed

In related news, Director Marvin Riley purchased 1,866 shares of the firm’s stock in a transaction on Tuesday, May 28th. The shares were acquired at an average cost of $27.05 per share, with a total value of $50,475.30. Following the purchase, the director now directly 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 accessible through the SEC website. 0.62% of the stock is currently owned by insiders.

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.