Wolfspeed Inc [NYSE: WOLF] closed the trading session at $28.90. The company report on March 26, 2024 at 5:41 PM that Wolfspeed Tops Out World’s Largest, Most Advanced Silicon Carbide Facility Alongside Senator Thom Tillis, Key Officials.
The John Palmour Manufacturing Center for Silicon Carbide (“the JP”) is a $5 billion investment that will bring jobs, economic growth to North Carolina.
Today, Wolfspeed, Inc. (NYSE: WOLF), the global leader in silicon carbide technology, hosted Senator Thom Tillis (R-NC) and other local officials, community partners, and employees at a ceremony to celebrate the topping out of construction at the $5 billion John Palmour Manufacturing Center for Silicon Carbide. Located in Chatham County, North Carolina, the JP will produce 200mm silicon carbide wafers, significantly expanding Wolfspeed’s materials capacity, and meet the demand for next generation semiconductors critical to the energy transition and AI.
The stocks have a year to date performance of -33.58 percent and weekly performance of 4.14 percent. The stock has been moved at -12.82 percent over the last six months. The stock has performed 3.29 percent around the most recent 30 days and changed -30.71 percent over the most recent 3-months.
If compared to the average trading volume of 4.70M shares, WOLF reached to a volume of 4566972 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say 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 $38.56 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 2.43. 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.
Mizuho have made an estimate for Wolfspeed Inc shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on April 05, 2024. While these analysts kept the previous recommendation, Wells Fargo dropped their target price from $55 to $30. The new note on the price target was released on April 03, 2024, representing the official price target for Wolfspeed Inc stock. Previously, the target price had yet another raise to $46, while Jefferies analysts kept a Hold rating on WOLF stock.
The Average True Range (ATR) for Wolfspeed Inc is set at 1.66, with the Price to Sales ratio for WOLF stock in the period of the last 12 months amounting to 4.18. The Price to Book ratio for the last quarter was 3.16, with the Price to Cash per share for the same quarter was set at 20.95.
WOLF stock trade performance evaluation
Wolfspeed Inc [WOLF] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 4.14. With this latest performance, WOLF shares gained by 3.29% in over the last four-week period, additionally sinking by -12.82% over the last 6 months – not to mention a drop of -49.69% 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 54.72, with the RSI for the last a single of trading hit 58.62, and the three-weeks RSI is set at 51.80 for Wolfspeed Inc [WOLF]. The present Moving Average for the last 50 days of trading for this stock 27.57, while it was recorded at 27.23 for the last single week of trading, and 39.69 for the last 200 days.
Wolfspeed Inc [WOLF]: An insightful look at the core fundamentals
Wolfspeed Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.54 and a Current Ratio set at 5.13.
Earnings per share (EPS) analysis for Wolfspeed Inc [WOLF] stock
With the latest financial reports released by the company, Wolfspeed Inc posted -0.13/share EPS, while the average EPS was predicted by analysts to be reported at -0.15/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 13.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for WOLF.
Wolfspeed Inc [WOLF]: Institutional Ownership
The top three institutional holders of WOLF stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in WOLF stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in WOLF stock with ownership which is approximately 5.8386%.
