Wolfspeed Inc. (WOLF) Research Recommendations: Here’s What You Should Know

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The stock of Wolfspeed Inc. (NYSE:WOLF) decreased by -$0.38 on Wednesday to $90.46, down -0.42 percent. The last five days have seen an average of 2,370,117 shares of common stock traded. 2 times new highs were reached in the current year, with a fall of -$20.31. The average number of shares traded over the last 20 days was 3,789,139, while the average volume over the last 50 days totaled 2,977,666.

WOLF stock dropped -11.82% since last month. On 11/03/22, the company’s shares reached a one-month low of $70.00. The stock touched a high of $129.09 on 01/04/22, after rallying from a low of $58.07 in 52 weeks. The price of WOLF stock has declined by -18.73% or -$20.31 this year, reaching a new high 2 times. Still, the stock price is down -29.93% from the 52-week high.


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Insider Transactions

WOLF stock investors should be aware that Wolfspeed Inc. (WOLF) stock had its last reported insider trading activity 5 days ago on Nov 18. On Nov 18, Director LE DUY LOAN T acquired 3,000 shares at $90.95 each. This transaction resulted in the insider spending $272,840. On Nov 18, LE DUY LOAN T added 2,000 shares at a price of US$91.04. After the transaction, the insider now owns 29,662 shares. Director LE DUY LOAN T had earlier bought 2,000 shares on Nov 02 for $73.82 a share. The transaction was completed for $147,640.

Valuation Metrics

Beta for the stock is 1.38. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 13.53, the price-to-book (PB) ratio of 5.34.

Financial Health

For the three months ended September 29, Wolfspeed Inc.’s quick ratio was 4.00, while its current ratio was 4.60, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending September 29 is 0.62, and the total debt to equity ratio is 0.62. As far as profitability goes, gross margin for the trailing twelve months is 33.70% percent. Wolfspeed Inc.’s operating margin stood at -28.30% for the same period. Based on annual data, it had gross profit of $249.3 million and revenue of $746.2 million.

Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. WOLF’s return on assets (ROA) during the last 12 months has been -4.30%. There was a -8.10% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was -6.70%.

Earnings Surprise

According to Wolfspeed Inc.’s quarterly financial report for the quarter that ended September 29, it had $675.6 million in cash and short-term investments. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $241.3 million, while revenues rose by 35.1% to $228.5 million. It was predicted that Wolfspeed Inc.’s quarterly earnings would be -$0.04, but it ended up being -$0.04. EBITDA was -$35.0 million for the quarter. At the end of Wolfspeed Inc.’s most recent quarter ended September 29, its liabilities totaled 1.75 billion, while its total debt was $1.36 billion. Equity owned by shareholders amounts to $124.21 million.

Technical Picture

Here’s a quick look at Wolfspeed Inc.’s (WOLF) price momentum from a technical perspective. As of 22 November, the RSI 9-day stood at 54.73%, suggesting the stock is Neutral, with a 56.81% historical volatility rate.

The stochastic %K and %D were 78.10% and 78.06% respectively, while the average true range (ATR) was 5.14. Based on the 14-day stochastic reading of 82.06%, the RSI (14) reading is 50.69%. On the 9-day MACD Oscillator, the stock is at -0.41, and the 14-day reading is at 3.60.

Analyst Ratings

In its most recent analyst report, JP Morgan raised its rating on Wolfspeed Inc. (NYSE: WOLF) to an Overweight. Prior to this, analysts firm rated the stock as a Neutral. Analysts have assigned Wolfspeed Inc. (WOLF) an Overweight rating. WOLF is a stock that is recommended for selling by 1 brokerage firm, while 3 companies recommend holding. The stock is underweighted by 1 analyst. Among the analysts who rate the stock, 0 rates it overweight and 15 others recommend it as a buy.

What is WOLF’s price target for the next 12 months?

The current consensus forecast for the stock is between $65.00 and $135.00, with a median target price of $105.00. In analyzing these forecasts, the average price target given by analysts for Wolfspeed Inc. (WOLF) is $103.67.

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