Wolfspeed (NYSE:WOLF) Sets New 52-Week High – Here’s Why

Wolfspeed, Inc. (NYSE:WOLF)’s share price reached a new 52-week high on Wednesday . The stock traded as high as $53.98 and last traded at $53.8170, with a volume of 12104304 shares. The stock had previously closed at $50.31.

More Wolfspeed News

Here are the key news stories impacting Wolfspeed this week:

• Positive Sentiment: Citrini Research highlighted Wolfspeed as a top way to play AI infrastructure and power-chip demand, helping drive a strong move higher as investors piled into the stock. Wolfspeed Stock Jumps 23% as Power Chip Rally Rolls On
• Positive Sentiment: Additional coverage said Wolfspeed is “soaring” after receiving a new recommendation, reinforcing the bullish momentum and drawing more attention from traders. Power-chip stock Wolfspeed gets a new recommendation—and the stock is soaring
• Positive Sentiment: Schaeffer’s flagged Wolfspeed as a short-squeeze candidate, which can fuel outsized gains if bearish traders are forced to cover positions. Short Squeeze Candidates: AST SpaceMobile, Wolfspeed
• Neutral Sentiment: Some recent articles framed the move as a broader speculative surge, with Wolfspeed hitting an all-time high and benefiting from momentum rather than a fresh company-specific earnings release. Wolfspeed (WOLF) Notches All-Time High as Analyst Extremely Bullish
• Neutral Sentiment: One report noted Wolfspeed had also been discussed as a “good stock to buy now,” but this was more of a commentary piece than a new fundamental catalyst. Is Wolfspeed, Inc. (WOLF) A Good Stock To Buy Now?

Analyst Ratings Changes

Several equities research analysts have recently issued reports on WOLF shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Wolfspeed in a research report on Friday, March 27th. Wall Street Zen upgraded shares of Wolfspeed from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 9th. Susquehanna cut their price target on shares of Wolfspeed from $30.00 to $20.00 and set a “neutral” rating for the company in a report on Thursday, January 22nd. Piper Sandler reiterated an “overweight” rating and set a $20.00 price objective (up from $6.00) on shares of Wolfspeed in a research report on Thursday, February 5th. Finally, Zacks Research upgraded Wolfspeed to a “hold” rating in a report on Monday, February 9th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $20.00.

Wolfspeed Stock Performance

The stock has a 50 day moving average price of $25.59 and a 200 day moving average price of $21.58. The company has a market capitalization of $3.40 billion and a P/E ratio of -6.66.

Wolfspeed (NYSE:WOLF) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($3.26) earnings per share for the quarter, topping the consensus estimate of ($3.78) by $0.52. The firm had revenue of $150.20 million during the quarter, compared to analysts’ expectations of $150.00 million. During the same period last year, the business posted ($0.72) EPS. The company’s revenue was down 19.0% compared to the same quarter last year.

Institutional Investors Weigh In On Wolfspeed

Several large investors have recently added to or reduced their stakes in the business. Renesas Electronics America Inc. purchased a new position in Wolfspeed in the 4th quarter worth approximately $293,400,000. Capital Research Global Investors bought a new stake in shares of Wolfspeed during the 3rd quarter valued at $79,426,000. UBS Group AG boosted its holdings in shares of Wolfspeed by 3,413.9% during the 4th quarter. UBS Group AG now owns 1,269,548 shares of the company’s stock valued at $22,103,000 after buying an additional 1,233,419 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Wolfspeed by 94.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,868,741 shares of the company’s stock worth $5,718,000 after buying an additional 906,968 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Wolfspeed by 176.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,380,499 shares of the company’s stock valued at $4,224,000 after purchasing an additional 881,603 shares in the last quarter.

About Wolfspeed

Wolfspeed, Inc (NYSE: WOLF) is a leading developer and manufacturer of silicon carbide (SiC) and gallium nitride (GaN) semiconductor materials and devices. The company’s product portfolio addresses high-growth markets such as electric vehicles, renewable energy, fast-charging infrastructure, aerospace and defense, and telecommunications. By leveraging proprietary materials and device designs, Wolfspeed delivers solutions that offer improved energy efficiency, higher power density and greater thermal performance compared to conventional silicon-based semiconductors.

Founded as part of Cree, Inc and spun off to form an independent public company in October 2021, Wolfspeed traces its roots to the mid-1980s when it pioneered the commercial use of wide-bandgap semiconductor technology.