Chipmaker Wolfspeed forecasts quarterly revenue below estimates as EV sales growth slows
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Wolfspeed (WOLF) PT Lowered to $31 at JPMorgan
May 2, 2024 7:39 AM EDTJPMorgan analyst Samik Chatterjee lowered the price target on Wolfspeed (NYSE: WOLF) to $31.00 (from $35.00) while maintaining a Neutral rating.
The analyst comments "Wolfspeeds F3Q24 (Mar-end) results and outlook were once again plagued by headwinds in the Industrial & Energy (I&E) market, led by an inventory build-up across channels, particularly in Asia, as the company is guiding for another step down in Durham-Power Product revenue in F4Q24 ($62.5 mn vs. $74 mn in F3Q and $96 mn in F2Q). Importantly, the aforementioned... More
Wolfspeed (WOLF) PT Lowered to $25 at Citi
May 2, 2024 6:00 AM EDTCiti analyst Atif Malik lowered the price target on Wolfspeed (NYSE: WOLF) to $25.00 (from $29.00) while maintaining a Neutral rating.
The analyst comments "WOLF stock was down 5% after-hours as Mohawk Valley Fab (MVF) outperformance was offset by the Mar-Q margin miss as well as the... More
