Wolfspeed

WOLF · NYSE

$23.50−$0.64 (−2.65%)TodayMarket closed · Oct 20, 4:05 PM ET

Prev close $24.14

WOLF analyst rating

HoldConsensus of 3 analysts over the last 12 months. 33% rate it a buy.

Strong buy0
Buy1
Hold2
Underperform0
Sell0

12-month price target · 4 analysts

Average $28.05 (+19.4% upside)

Low: $25.25
Now: $23.50
High: $31.50

Upgrades and downgrades

The latest rating actions, newest first

WOLF analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
TD Cowen	Aug 20, 2026	Initiates	Hold	$25.00	39%
Susquehanna	Jul 21, 2026	Maintains	Neutral	$40.00 → $30.00	60%
Piper Sandler	Feb 5, 2026	Maintains	Overweight	$6.00 → $20.00	71%
Susquehanna	Jan 22, 2026	Maintains	Neutral	$30.00 → $20.00	60%
Susquehanna	Oct 22, 2025	Maintains	Neutral	$1.50 → $30.00	60%

The case for and against

Updated Apr 24, 2025

Bull case

Wolfspeed Inc is experiencing a positive trajectory, with first-quarter revenues of $49 million in F1Q25, marking a significant increase from $41 million in F4Q24 and $4 million in F1Q24, despite being slightly below the previous guidance due to customer push-outs. The company's gross margin, although low at 3.4% in the first quarter, reflects the ramp-up of its manufacturing facility, with plans for significant cost savings of $200 million targeted through restructuring efforts, of which 70% will come from operating expenses. As Wolfspeed continues to lead in silicon carbide technology and maintains a dominant position in materials, its strategic importance in the semiconductor space remains strong, bolstered by expectations of additional revenue from asset sales and ongoing growth in device revenue.

Bear case

Wolfspeed Inc. is facing significant challenges in its end demand environment, particularly within the electric vehicle sector, which has been compounded by inventory build-ups in the industrial and energy markets, adversely affecting gross margins. The company's adjusted gross margins have shown weakness, with forecasts indicating a further decline to negative levels, specifically projected at -5% for the March quarter. Additionally, management has reduced capital expenditure guidance for 2025 by $100 million, highlighting caution amid a struggling revenue landscape and increased technology risks.

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