Wolfspeed (WOLF) to Release Earnings on Wednesday

Wolfspeed (NYSE:WOLF) is projected to release its earnings data after the market closes on Wednesday, January 29th. Analysts expect Wolfspeed to post earnings of ($0.90) per share and revenue of $188,250.00 billion for the quarter. Parties interested in participating in the company’s conference call can do so using this link.

Wolfspeed Price Performance

Shares of NYSE WOLF opened at $6.06 on Tuesday. The company has a quick ratio of 2.54, a current ratio of 3.14 and a debt-to-equity ratio of 9.82. Wolfspeed has a fifty-two week low of $4.66 and a fifty-two week high of $35.41. The business has a 50 day moving average price of $7.51 and a two-hundred day moving average price of $10.91. The firm has a market cap of $773.28 million, a PE ratio of -1.02 and a beta of 1.43.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on WOLF shares. Canaccord Genuity Group dropped their price target on shares of Wolfspeed from $25.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Piper Sandler reissued an “overweight” rating and issued a $18.00 target price (down previously from $20.00) on shares of Wolfspeed in a research report on Thursday, November 7th. Susquehanna cut their target price on shares of Wolfspeed from $11.00 to $7.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. decreased their price target on Wolfspeed from $20.00 to $17.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. Finally, Roth Mkm cut their price objective on Wolfspeed from $25.00 to $20.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $16.79.

Insider Activity

In related news, Director Glenda Dorchak acquired 3,592 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were purchased at an average price of $8.33 per share, for a total transaction of $29,921.36. Following the purchase, the director now owns 18,688 shares in the company, valued at $155,671.04. This represents a 23.79 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Thomas H. Werner bought 37,500 shares of the firm’s stock in a transaction on Wednesday, November 20th. The shares were bought at an average cost of $6.53 per share, with a total value of $244,875.00. Following the purchase, the chairman now directly owns 108,549 shares in the company, valued at approximately $708,824.97. This trade represents a 52.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 78,067 shares of company stock worth $524,747 over the last quarter. Corporate insiders own 0.84% of the company’s stock.

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.