Market cap of Wolfspeed Inc. [WOLF] reaches 8.94B – now what?

Wolfspeed Inc. [NYSE: WOLF] loss -7.49% on the last trading session, reaching $71.04 price per share at the time. The company report on October 31, 2022 that Jaguar Land Rover Partners With Wolfspeed for Silicon Carbide Semiconductor Technology Supply for Next Generation Electric Vehicles.

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Through its Reimagine strategy, Jaguar Land Rover is transforming to an electric-first business, on a journey to carbon net zero by 2039.

Strategic partnership with Wolfspeed will secure supply for Silicon Carbide semiconductor technology, integral to electrification of its next generation Range Rover, Discovery, Defender and Jaguar vehicles.

Wolfspeed Inc. represents 124.03 million in outstanding shares, while the company has a total market value of $8.94 billion with the latest information. WOLF stock price has been found in the range of $70.94 to $77.95.

If compared to the average trading volume of 2.77M shares, WOLF reached a trading volume of 3733350 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 $106.64 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.

JP Morgan have made an estimate for Wolfspeed Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on October 24, 2022. While these analysts kept the previous recommendation, William Blair raised their target price to Outperform. The new note on the price target was released on October 17, 2022, representing the official price target for Wolfspeed Inc. stock. Previously, the target price had yet another raise to $140, while Canaccord Genuity analysts kept a Buy rating on WOLF stock.

The Average True Range (ATR) for Wolfspeed Inc. is set at 8.04, with the Price to Sales ratio for WOLF stock in the period of the last 12 months amounting to 10.76. The Price to Book ratio for the last quarter was 4.18, with the Price to Cash per share for the same quarter was set at 9.51.

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 -33.26. With this latest performance, WOLF shares dropped by -39.65% in over the last four-week period, additionally sinking by -30.02% over the last 6 months – not to mention a drop of -45.99% 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 24.65, with the RSI for the last a single of trading hit 18.01, and the three-weeks RSI is set at 30.26 for Wolfspeed Inc. [WOLF]. The present Moving Average for the last 50 days of trading for this stock 107.78, while it was recorded at 79.91 for the last single week of trading, and 93.12 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 4.60.

An analysis of insider ownership at Wolfspeed Inc. [WOLF]

There are presently around $9,269 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 0.80% of the total institutional ownership; CAPITAL RESEARCH GLOBAL INVESTORS, holding 13,700,979 shares of the stock with an approximate value of $973.32 million in WOLF stocks shares; and CAPITAL INTERNATIONAL INVESTORS, currently with $854.5 million 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 October and at the time of the October reporting period, where 234 institutional holders increased their position in Wolfspeed Inc. [NYSE:WOLF] by around 8,178,839 shares. Additionally, 196 investors decreased positions by around 6,084,528 shares, while 74 investors held positions by with 116,205,463 shares. The mentioned changes placed institutional holdings at 130,468,830 shares, according to the latest SEC report filing. WOLF stock had 83 new institutional investments in for a total of 2,767,753 shares, while 60 institutional investors sold positions of 1,276,410 shares during the same period.


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