Wolfspeed (WOLF) stock slips as guidance disappoints

Wolfspeed (WOLF) PT Lowered to $31 at JPMorgan

JPMorgan 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 $23 at Susquehanna

Susquehanna analyst Christopher Rolland lowered the price target on Wolfspeed (NYSE: WOLF) to $23.00 (from $25.00) while maintaining a Neutral rating.... More

Wolfspeed (WOLF) PT Lowered to $27 at Mizuho

Mizuho analyst Vijay Rakesh lowered the price target on Wolfspeed (NYSE: WOLF) to $27.00 (from $30.00) while maintaining a Neutral rating.... More

Wolfspeed (WOLF) PT Lowered to $25 at Citi

Citi 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

Wolfspeed (WOLF) PT Lowered to $47 at Canaccord Genuity

(Updated - May 2, 2024 5:57 AM EDT)

Canaccord Genuity analyst George Gianarikas lowered the price target on Wolfspeed (NYSE: WOLF) to $47.00 (from $50.00) while maintaining a Buy rating.

The analyst commented: "We see a few levers for value creation from here. While negative earnings... More

William Blair Downgrades Wolfspeed (WOLF) to Market Perform

(Updated - May 2, 2024 7:06 AM EDT)

William Blair analyst Jed Dorsheimer downgraded Wolfspeed (NYSE: WOLF) from Outperform to Market Perform.

The analyst comments "Downgrading to Market Perform on Reset of Mohawk Valley Ramp . We have been willing to look... More

TD Cowen Downgrades Wolfspeed (WOLF) to Hold

(Updated - May 2, 2024 12:43 PM EDT)

TD Cowen analyst Matthew Ramsay downgraded Wolfspeed (NYSE: WOLF) from Buy to Hold with a price target of $25 from $40.

"We had and still believe in Wolfspeed's pole position in 200mm materials/devices capturing... More