Wolfspeed Inc. [WOLF] Stock trading around $46.00 per share: What’s Next?

Wolfspeed Inc. [NYSE: WOLF] price plunged by -19.86 percent to reach at -$11.4. The company report on April 26, 2023 at 4:05 PM that Wolfspeed Reports Financial Results for the Third Quarter of Fiscal Year 2023.

Year-over-year Quarterly Revenue Growth of 22 Percent; Design-Ins Totaling $1.7 Billion.

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Wolfspeed, Inc. (NYSE: WOLF) today announced its results for the third quarter of fiscal 2023.

A sum of 15841897 shares traded at recent session while its average daily volume was at 2.20M shares. Wolfspeed Inc. shares reached a high of $51.82 and dropped to a low of $44.2501 until finishing in the latest session at $46.00.

The one-year WOLF stock forecast points to a potential upside of 47.87. The average equity rating for WOLF stock is currently 2.40, trading closer to a bullish pattern in the stock market.

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 $88.24 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.

Oppenheimer have made an estimate for Wolfspeed Inc. shares, keeping their opinion on the stock as Perform, with their previous recommendation back on April 27, 2023. While these analysts kept the previous recommendation, JP Morgan raised their target price from $100 to $65. The new note on the price target was released on April 17, 2023, representing the official price target for Wolfspeed Inc. stock. Previously, the target price had yet another drop from $95 to $66, while Citigroup kept a Neutral rating on WOLF stock.

The Average True Range (ATR) for Wolfspeed Inc. is set at 3.66, with the Price to Sales ratio for WOLF stock in the period of the last 12 months amounting to 6.44. The Price to Book ratio for the last quarter was 3.21, with the Price to Cash per share for the same quarter was set at 20.30.

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 -21.23. With this latest performance, WOLF shares dropped by -24.20% in over the last four-week period, additionally sinking by -56.24% over the last 6 months – not to mention a drop of -52.23% 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 25.68, with the RSI for the last a single of trading hit 20.70, and the three-weeks RSI is set at 29.73 for Wolfspeed Inc. [WOLF]. The present Moving Average for the last 50 days of trading for this stock 64.24, while it was recorded at 55.76 for the last single week of trading, and 84.01 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 Total Capital for WOLF is now -5.06, given the latest momentum, and Return on Invested Capital for the company is -9.12. Return on Equity for this stock declined to -12.95, with Return on Assets sitting at -8.01. When it comes to the capital structure of this company, Wolfspeed Inc. [WOLF] has a Total Debt to Total Equity ratio set at 44.27. Additionally, WOLF Total Debt to Total Capital is recorded at 30.69, with Total Debt to Total Assets ending up at 27.57. Long-Term Debt to Equity for the company is recorded at 44.06, with the Long-Term Debt to Total Capital now at 30.54.

Reflecting on the efficiency of the workforce at the company, Wolfspeed Inc. [WOLF] managed to generate an average of -$73,463 per employee. Receivables Turnover for the company is 5.88 with a Total Asset Turnover recorded at a value of 0.20.Wolfspeed Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 6.10 and a Current Ratio set at 6.70.

Wolfspeed Inc. [WOLF] Insider Position Details

There are presently around $7,728 million, or 112.16% of WOLF stock, in the hands of institutional investors. The top three institutional holders of WOLF stocks are: BLACKROCK INC. with ownership of 17,896,609, which is approximately 8.241% of the company’s market cap and around 0.80% of the total institutional ownership; CAPITAL RESEARCH GLOBAL INVESTORS, holding 15,428,273 shares of the stock with an approximate value of $885.58 million in WOLF stocks shares; and VANGUARD GROUP INC, currently with $684.76 million in WOLF stock with ownership of nearly 2.718% of the company’s market capitalization.

Positions in Wolfspeed Inc. stocks held by institutional investors increased at the end of Wednesday and at the time of the Wednesday reporting period, where 276 institutional holders increased their position in Wolfspeed Inc. [NYSE:WOLF] by around 18,425,810 shares. Additionally, 272 investors decreased positions by around 12,864,584 shares, while 66 investors held positions by with 103,341,459 shares. The mentioned changes placed institutional holdings at 134,631,853 shares, according to the latest SEC report filing. WOLF stock had 109 new institutional investments in for a total of 2,853,352 shares, while 109 institutional investors sold positions of 5,701,507 shares during the same period.

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