Last Updated: 19 Sep 2024
Executive Summary
Wolfspeed Inc. (WOLF) is a leading provider of silicon carbide (SiC) and gallium nitride (GaN) power semiconductors. The company's products are used in a wide range of applications, including automotive, industrial, and aerospace. Wolfspeed has a strong track record of innovation and growth, and is well-positioned to benefit from the increasing demand for SiC and GaN semiconductors.
Company Overview
Wolfspeed was founded in 1987 and is headquartered in Durham, North Carolina. The company has a global presence, with operations in the United States, Europe, and Asia. Wolfspeed's products are sold through a network of distributors and resellers.
Fundamental Analysis
Wolfspeed's financial performance has been mixed in recent years. The company has reported losses in each of the past three fiscal years. However, revenue has grown steadily, and the company is expected to return to profitability in fiscal 2024.
Technical Analysis
Wolfspeed's stock price has been volatile in recent months. The stock reached a 52-week high of $47.43 in November 2021, but has since fallen to $8.8. The stock is currently trading below its 50-day and 200-day moving averages.
Short Term Outlook
Wolfspeed's short-term outlook is uncertain. The company is facing a number of challenges, including supply chain disruptions and rising costs. However, the company's long-term prospects remain bright.
Long Term Outlook
Wolfspeed is well-positioned to benefit from the increasing demand for SiC and GaN semiconductors. The company has a strong track record of innovation and growth, and is expected to return to profitability in fiscal 2024.
Analyst Recommendations
The majority of analysts have a "hold" rating on Wolfspeed. However, five analysts have a "buy" rating and two analysts have a "sell" rating. The average analyst target price is $19.18.
