Investors Purchase High Volume of Wolfspeed Call Options (NYSE:WOLF)

Wolfspeed, Inc. (NYSE:WOLF) was the target of unusually large options trading activity on Thursday. Stock traders bought 21,674 call options on the company. This is an increase of 80% compared to the typical daily volume of 12,062 call options.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Mizuho lowered their target price on shares of Wolfspeed from $30.00 to $27.00 and set a “neutral” rating on the stock in a report on Thursday. Piper Sandler lowered their price objective on Wolfspeed from $55.00 to $45.00 and set an “overweight” rating on the stock in a research note on Thursday, February 1st. Roth Mkm reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Wolfspeed in a report on Tuesday. Susquehanna reduced their target price on Wolfspeed from $25.00 to $23.00 and set a “neutral” rating on the stock in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of Wolfspeed from $35.00 to $30.00 and set a “hold” rating for the company in a report on Tuesday, April 23rd. One research analyst has rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Wolfspeed presently has an average rating of “Hold” and an average price target of $37.27.

Wolfspeed Trading Up 7.5 %

Shares of WOLF stock opened at $25.33 on Friday. Wolfspeed has a 1-year low of $20.63 and a 1-year high of $70.42. The company has a current ratio of 5.13, a quick ratio of 4.58 and a debt-to-equity ratio of 4.50. The stock has a market cap of $3.19 billion, a price-to-earnings ratio of -3.90 and a beta of 1.64. The stock has a 50-day moving average of $26.58 and a 200-day moving average of $32.11.

Wolfspeed (NYSE:WOLF) last released its earnings results on Wednesday, January 31st. The company reported ($0.69) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.79) by $0.10. Wolfspeed had a negative net margin of 96.12% and a negative return on equity of 25.75%. The business had revenue of $208.40 million during the quarter, compared to the consensus estimate of $205.94 million. On average, equities research analysts forecast that Wolfspeed will post -3.05 earnings per share for the current year.

Institutional Investors Weigh In On Wolfspeed

A number of institutional investors have recently modified their holdings of WOLF. Norges Bank acquired a new position in Wolfspeed in the fourth quarter valued at $308,701,000. FengHe Fund Management Pte. Ltd. lifted its stake in shares of Wolfspeed by 438.9% in the 4th quarter. FengHe Fund Management Pte. Ltd. now owns 1,431,200 shares of the company’s stock valued at $62,272,000 after purchasing an additional 1,165,600 shares during the period. JANA Partners Management LP bought a new stake in shares of Wolfspeed during the 3rd quarter valued at about $35,662,000. Cibc World Markets Corp acquired a new stake in Wolfspeed during the fourth quarter worth approximately $34,808,000. Finally, Polar Capital Holdings Plc bought a new stake in Wolfspeed in the third quarter worth approximately $16,200,000.

Wolfspeed Company Profile

Wolfspeed, Inc operates as a powerhouse semiconductor company focuses on silicon carbide and gallium nitride (GaN) technologies in Europe, Hong Kong, China, rest of Asia-Pacific, the United States, and internationally. It offers silicon carbide and GaN materials, including silicon carbide bare wafers, epitaxial wafers, and GaN epitaxial layers on silicon carbide wafers to manufacture products for RF, power, and other applications.