Wolfspeed Inc. [WOLF] stock Initiated by Susquehanna analyst, price target now $90

Wolfspeed Inc. [NYSE: WOLF] stock went on an upward path that rose over 2.40% on Wednesday, amounting to a one-week price decrease of less than -4.78%. The company report on December 15, 2022 that Wolfspeed Expands and Extends Silicon Carbide Wafer Supply Agreement with a Leading Global Semiconductor Company.

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$225 million dollar expanded supply agreement supports steepening demand for Silicon Carbide across several key industries and among traditional semiconductor companies.

Wolfspeed, Inc. (NYSE: WOLF), the global leader in Silicon Carbide technology, today announced the expansion of an existing multi-year, long-term Silicon Carbide wafer supply agreement, now worth approximately $225 million, with a leading power device company. The expanded agreement calls for Wolfspeed to supply the company with 150 mm Silicon Carbide bare and epitaxial wafers, reinforcing the company’s vision for an industry-wide transition from silicon to Silicon Carbide semiconductor power devices.

Over the last 12 months, WOLF stock dropped by -28.61%. The one-year Wolfspeed Inc. stock forecast points to a potential upside of 21.19. The average equity rating for WOLF stock is currently 2.10, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $9.80 billion, with 124.03 million shares outstanding and 123.34 million shares in the current float. Compared to the average trading volume of 2.92M shares, WOLF stock reached a trading volume of 2839554 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on 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 $98.14 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 2.10. 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.

Susquehanna have made an estimate for Wolfspeed Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on December 12, 2022. While these analysts kept the previous recommendation, JP Morgan raised their target price from $130 to $160. The new note on the price target was released on October 24, 2022, representing the official price target for Wolfspeed Inc. stock.

The Average True Range (ATR) for Wolfspeed Inc. is set at 3.99, with the Price to Sales ratio for WOLF stock in the period of the last 12 months amounting to 11.80. The Price to Book ratio for the last quarter was 4.55, with the Price to Cash per share for the same quarter was set at 9.44.

WOLF Stock Performance Analysis:

Wolfspeed Inc. [WOLF] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.78. With this latest performance, WOLF shares dropped by -12.29% in over the last four-week period, additionally plugging by 22.96% over the last 6 months – not to mention a drop of -28.61% 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 40.13, with the RSI for the last a single of trading hit 38.11, and the three-weeks RSI is set at 41.54 for Wolfspeed Inc. [WOLF]. The present Moving Average for the last 50 days of trading for this stock 87.69, while it was recorded at 76.82 for the last single week of trading, and 91.11 for the last 200 days.

Insight into Wolfspeed Inc. Fundamentals:

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.

Wolfspeed Inc. [WOLF] Insider Position Details

There are presently around $9,904 million, in the hands of institutional investors. The top three institutional holders of WOLF stocks are: BLACKROCK INC. with ownership of 16,533,966, which is approximately 1.267% of the company’s market cap and around 0.80% of the total institutional ownership; CAPITAL RESEARCH GLOBAL INVESTORS, holding 13,628,117 shares of the stock with an approximate value of $1.05 billion in WOLF stocks shares; and VANGUARD GROUP INC, currently with $898.23 million in WOLF stock with ownership of nearly 0.648% 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 297 institutional holders increased their position in Wolfspeed Inc. [NYSE:WOLF] by around 10,782,457 shares. Additionally, 190 investors decreased positions by around 12,540,246 shares, while 63 investors held positions by with 104,731,681 shares. The mentioned changes placed institutional holdings at 128,054,384 shares, according to the latest SEC report filing. WOLF stock had 127 new institutional investments in for a total of 4,665,847 shares, while 37 institutional investors sold positions of 1,003,389 shares during the same period.


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