Wolfspeed Inc. [NYSE: WOLF] loss -2.29% on the last trading session, reaching $110.87 price per share at the time. The company report on August 17, 2022 that Wolfspeed Reports Financial Results for the Fourth Quarter of Fiscal Year 2022.
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Annual Revenue Growth of 42 Percent; Record Quarter of Design-Ins Totaling $2.6 Billion.
Wolfspeed, Inc. (NYSE: WOLF) today announced its results for the fourth quarter and full year of fiscal 2022.
Wolfspeed Inc. represents 123.73 million in outstanding shares, while the company has a total market value of $14.22 billion with the latest information. WOLF stock price has been found in the range of $105.68 to $111.04.
If compared to the average trading volume of 1.92M shares, WOLF reached a trading volume of 2719851 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Wolfspeed Inc. [WOLF]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for WOLF shares is $112.41 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on WOLF stock is a recommendation set at 2.40. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Cowen have made an estimate for Wolfspeed Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on August 18, 2022. While these analysts kept the previous recommendation, Goldman dropped their target price from $125 to $108. The new note on the price target was released on June 24, 2022, representing the official price target for Wolfspeed Inc. stock. Previously, the target price had yet another raise to $105, while Oppenheimer analysts kept a Outperform rating on WOLF stock.
The Average True Range (ATR) for Wolfspeed Inc. is set at 6.24, with the Price to Sales ratio for WOLF stock in the period of the last 12 months amounting to 19.06. The Price to Book ratio for the last quarter was 5.63, with the Price to Cash per share for the same quarter was set at 9.35.
Trading performance analysis for WOLF stock
Wolfspeed Inc. [WOLF] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -8.24. With this latest performance, WOLF shares gained by 25.22% in over the last four-week period, additionally plugging by 11.65% over the last 6 months – not to mention a rise of 30.85% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for WOLF stock in for the last two-week period is set at 62.17, with the RSI for the last a single of trading hit 58.79, and the three-weeks RSI is set at 62.49 for Wolfspeed Inc. [WOLF]. The present Moving Average for the last 50 days of trading for this stock 85.27, while it was recorded at 114.42 for the last single week of trading, and 95.13 for the last 200 days.
Wolfspeed Inc. [WOLF]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Wolfspeed Inc. [WOLF] shares currently have an operating margin of -22.00 and a Gross Margin at +31.59. Wolfspeed Inc.’s Net Margin is presently recorded at -39.55.
Return on Equity for this stock declined to -12.95, with Return on Assets sitting at -8.01.
Wolfspeed Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.00 and a Current Ratio set at 4.50.
An analysis of insider ownership at Wolfspeed Inc. [WOLF]
There are presently around $14,455 million, in the hands of institutional investors. The top three institutional holders of WOLF stocks are: BLACKROCK INC. with ownership of 16,327,160, which is approximately -0.637% of the company’s market cap and around 0.60% of the total institutional ownership; CAPITAL RESEARCH GLOBAL INVESTORS, holding 13,700,979 shares of the stock with an approximate value of $1.52 billion in WOLF stocks shares; and CAPITAL INTERNATIONAL INVESTORS, currently with $1.33 billion in WOLF stock with ownership of nearly 1.181% of the company’s market capitalization.
Positions in Wolfspeed Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 213 institutional holders increased their position in Wolfspeed Inc. [NYSE:WOLF] by around 7,490,857 shares. Additionally, 219 investors decreased positions by around 7,267,884 shares, while 75 investors held positions by with 115,620,667 shares. The mentioned changes placed institutional holdings at 130,379,408 shares, according to the latest SEC report filing. WOLF stock had 68 new institutional investments in for a total of 2,837,378 shares, while 77 institutional investors sold positions of 2,362,055 shares during the same period.