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Wolfspeed Inc. (WOLF) Is Now En Route to Higher Prices

Wolfspeed Inc. (NYSE: WOLF) is -18.73% lower on its value in year-to-date trading and has touched a low of $58.07 and a high of $139.21 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The WOLF stock was last observed hovering at around $88.18 in the last trading session, with the day’s gains setting it 2.66% off its average median price target of $105.00 for the next 12 months. It is also 32.71% off the consensus price target high of $135.00 offered by 20 analysts, but current levels are -39.75% lower than the price target low of $65.00 for the same period.

Currently trading at $90.84, the stock is 6.04% and -9.34% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.82 million and changing 3.02% at the moment leaves the stock -1.94% off its SMA200. WOLF registered -28.35% loss for a year compared to 6-month gain of 38.90%.

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The stock witnessed a -11.82% loss in the last 1 month and extending the period to 3 months gives it a -21.57%, and is -3.17% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 4.42% over the week and 6.77% over the month.

Wolfspeed Inc. (WOLF) has around 4017 employees, a market worth around $11.25B and $830.90M in sales. Fwd P/E is 95.92. Profit margin for the company is -18.90%. Distance from 52-week low is 56.43% and -34.75% from its 52-week high. The company has generated returns on investments over the last 12 months (-8.10%).

Wolfspeed Inc. (WOLF) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Wolfspeed Inc. (WOLF) is a “Overweight”. 20 analysts offering their recommendations for the stock have an average rating of 2.10, where 3 rate it as a Hold and 0 think it is a “Overweight”. 15 of the analysts rate the stock as a “Buy”. 1 analysts have rated the stock as a Sell or Underperform.

Wolfspeed Inc. is expected to release its quarterly report on 01/24/2023.The EPS is expected to grow by 19.10% this year.

Wolfspeed Inc. (WOLF) Top Institutional Holders

The shares outstanding are 124.03M, and float is at 123.34M with Short Float at 6.83%.

Wolfspeed Inc. (WOLF) Insider Activity

A total of 29 insider transactions have happened at Wolfspeed Inc. (WOLF) in the last six months, with sales accounting for 9 and purchases happening 20 times. The most recent transaction is an insider purchase by LE DUY LOAN T,the company’sDirector. SEC filings show that LE DUY LOAN T bought 3,000 shares of the company’s common stock on Nov 18 at a price of $90.95 per share for a total of $0.27 million. Following the purchase, the insider now owns 5000.0 shares.

Wolfspeed Inc. disclosed in a document filed with the SEC on Nov 18 that LE DUY LOAN T (Director) bought a total of 2,000 shares of the company’s common stock. The trade occurred on Nov 18 and was made at $91.04 per share for $0.18 million. Following the transaction, the insider now directly holds 29662.0 shares of the WOLF stock.

Still, SEC filings show that on Nov 02, LE DUY LOAN T (Director) acquired 2,000 shares at an average price of $73.82 for $0.15 million. The insider now directly holds 27,662 shares of Wolfspeed Inc. (WOLF).

Wolfspeed Inc. (WOLF): Who are the competitors?

The company’s main competitors (and peers) include NVIDIA Corporation (NVDA) that is trading -49.81% down over the past 12 months and Broadcom Inc. (AVGO) that is -4.20% lower over the same period. QUALCOMM Incorporated (QCOM) is -31.84% down on the 1-year trading charts.

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