Wolfspeed forecasts weak first-quarter revenue on manufacturing issues
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Wolfspeed (WOLF) PT Lowered to $15 at BofA Securities
August 23, 2024 5:28 AM EDTBofA Securities analyst Vivek Arya lowered the price target on Wolfspeed (NYSE: WOLF) to $15.00 (from $25.00) while maintaining a Underperform rating.
The analyst comments "WOLF is making progress in ramping its new 200mm Mohawk Valley (MHK) fab but it is more than offset by... More
Wolfspeed (WOLF) PT Lowered to $14 at Deutsche Bank
August 22, 2024 1:12 PM EDTDeutsche Bank analyst Robert Sanders lowered the price target on Wolfspeed (NYSE: WOLF) to $14.00 (from $17.00) while maintaining a Hold rating.
The analyst comments "Along with its Q4 results, Wolfspeed announced that annual capex by FY-26 (to June) will fall to $200-600m, far below the $2.1bn spent in FY-24. While the company states... More
Wolfspeed (WOLF) PT Lowered to $16 at Susquehanna
August 22, 2024 7:41 AM EDTSusquehanna analyst Christopher Rolland lowered the price target on Wolfspeed (NYSE: WOLF) to $16.00 (from $23.00) while maintaining a Neutral rating.
The analyst comments "While the MVF ramp remains on track, the other parts of the business receded. Management is prudently cutting capex and opex but will still need their core business to ramp asap. Wolfspeed reported results in-line with their mid-quarter negative preannouncement, and guidance that was in- line with our estimates (but below stale Street estimates). Beyond the June manufacturing issues, the company once again blamed weakness on softer Industrial & Energy (I&E)... More
Wolfspeed (WOLF) PT Lowered to $28 at Goldman Sachs
August 22, 2024 7:21 AM EDTGoldman Sachs analyst Brian Lee lowered the price target on Wolfspeed (NYSE: WOLF) to $28.00 (from $48.00) while maintaining a Buy rating.
The analyst comments "WOLFs quarter seemed similar to last (again), as progress continues on Mohawk Valley and I&E continues to weaken with... More
Wolfspeed (WOLF) PT Lowered to $16 at Citi
August 22, 2024 6:49 AM EDTCiti analyst Atif Malik lowered the price target on Wolfspeed (NYSE: WOLF) to $16.00 (from $25.00) while maintaining a Neutral rating.
The analyst comments "WOLF stock was +6% after hours after missing Street Jun/Sep-Q expectations on weak I&E demand, EV customer... More
