Wolfspeed in focus as Mizuho starts coverage with Neutral rating [Seeking Alpha]
Wolfspeed, Inc. (WOLF)
Company Research
Source: Seeking Alpha
"WOLF is enabling the future global automotive and renewable energy roadmap, and is integral to the high power management market," analyst Vijay Rakesh wrote in an investor note. "However, with the [silicon carbide total addressable market] growing at an estimated ~30% CAGR, competition from new and existing suppliers in the U.S., Europe and China could pressure supply, pricing and margins against a slowing EV market," Rakesh added. Rakesh also put a $30 price target on Wolfspeed shares as he believes slowing EV demand and capacity ramps are likely to negatively impact margins. The silicon carbide market is expected to grow roughly 28% on a compound annual basis to be approximately $7.5B by 2027, with automotive accounting for nearly 36% of that, up from 12% today, Rakesh said. Wolfspeed has approximately 53% of the silicon carbide supply chain market currently and is a key substrate supplier to other chip companies in the space such as ON Semiconductor ( ON ), Infineon ( OTC
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WOLF
News
- Wolfspeed, Inc. (NYSE:WOLF) Consensus Forecasts Have Become A Little Darker Since Its Latest Report [Yahoo! Finance]Yahoo! Finance
- Wolfspeed: Not So Bad [Seeking Alpha]Seeking Alpha
- Why Wolfspeed Sank Today [Yahoo! Finance]Yahoo! Finance
- Wolfspeed, Inc. (NYSE: WOLF) had its price target lowered by analysts at Citigroup Inc. from $29.00 to $25.00. They now have a "neutral" rating on the stock.MarketBeat
- Wolfspeed, Inc. (NYSE: WOLF) had its price target lowered by analysts at Canaccord Genuity Group Inc. from $50.00 to $47.00. They now have a "buy" rating on the stock.MarketBeat
WOLF
Earnings
- 5/1/24 - Beat
WOLF
Sec Filings
- 5/2/24 - Form 10-Q
- 5/1/24 - Form 8-K
- 3/4/24 - Form 8-K
- WOLF's page on the SEC website