Morgan Stanley has decided to maintain its Equal-Weight rating of Wolfspeed WOLF and lower its price target from $106.00 to $88.00.
Shares of Wolfspeed are trading down 17.89% over the last 24 hours, at $87.40 per share.
A move to $88.00 would account for a 0.69% increase from the current share price.
Wolfspeed Inc is involved in the manufacturing of wide bandgap semiconductors. It is focused on silicon carbide and gallium nitride materials and devices for power and radio-frequency (RF) applications. The company serves applications such as transportation, power supplies, inverters, and wireless systems. Geographically, it derives a majority of revenue from Europe and also has a presence in the United States; China; Japan; South Korea, and other countries.
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