Wolfspeed dips after Mizuho cuts rating on silicon carbide pricing, supply headwinds [Seeking Alpha]
Wolfspeed, Inc. (WOLF)
Company Research
Source: Seeking Alpha
The firm also lowered the price target on the stock to $8 from $17. Analysts led by Vijay Rakesh said they previously noted that 2024 electric vehicle, or EV, production estimates are falling for 2024 — a headwind for key EV silicon carbide, or SiC, supplier Wolfspeed. IHS now sees EVs up 6% year-over-year (compared to growth of 22% in June and 33% entering 2024), versus Mizuho's lowered estimates of up ~5% y/y. Mizuho is lowering its 2025 EV growth estimates to up nearly 5% year-over-year (Below IHS estimates for 2025 EV growth of 40% year-on-year), according to the analysts. The majority of EV production ramps remain in China, with continued subsidies, as the U.S. and European EV rollouts reduced/pushed out, the analysts added. The analysts estimate EVs will make up more than 65% of SiC demand in 2024, and EV plus charging to remain 75% to 80% of SiC demand through 2030. Rakesh and his team added that another reason for downgraded is that there is 2025 SiC pricing headwin
Show less
Read more
Impact Snapshot
Event Time:
WOLF
Last Price
Price Change
Price Change%
Volume Shares
Max Up
Max Down
%
Volume Ratio
Performance Comparison
Updated
|
Event Day
Stock performance from the time of news release until the following 4pm ET market close
|
Last price at news event
|
Since Event
Multi-day stock performance from the time of the news release
|
|---|---|---|
|
EVENT DAY
Stock performance from the time of news release until the following 4pm ET market close
|
LAST
PRICE AT NEWS EVENT |
SINCE EVENT
Multi-day stock performance from the time of the news release
|
| Last Price | ||
| VWAP | ||
|
High:
|
Max Up |
High:
|
|
Low:
|
Max Down |
Low:
|
|
%
|
Post news range |
%
|
|
|
Price change |
|
|
|
Price Change Percentage |
|
|
|
S&P 500 (SPX) |
|
|
%
|
Volume ratio |
%
|
| Volume | ||
| Ticks | ||
|
|
Avg transaction size |
|
Don't Miss Out On The Next BIG Stock Move
Event day
Event Day Chart will not be displayed beyond 90-day period of the event
Performance since event
Time And Velocity Analysis
Be the first to know
Opt in for alerts from News Quantifed
Sign Up Today
Opt-in for
WOLF alerts
Learn More With NQ
Reading the Impact Report
Help Me Understand This Data
Help Me Understand This Data
How NQ Works
What is news-based trading?
And why is it so successful?
And why is it so successful?
Movers & Shakers
The biggest gainers and losers and WHY it moved
WOLF alerts
High impacting Wolfspeed, Inc. news events
Weekly update
A roundup of the hottest topics
WOLF
News
- The Schall Law Firm Encourages Investor Participation In An Inquiry Into Wolfspeed, Inc. For Possible Securities Fraud Accesswire
- Why Wolfspeed Plunged This Week [Yahoo! Finance]Yahoo! Finance
- Wolfspeed Inc Is Being Investigated For Violating Securities Laws And Affected Shareholders Are Urged To Reach Out To The Schall Law Firm Accesswire
- Wolfspeed shares drop after Mizuho downgrade to sell [Yahoo! Finance]Yahoo! Finance
- Wolfspeed, Inc. (NYSE: WOLF) was downgraded by analysts at Mizuho from a "neutral" rating to an "underperform" rating. They now have a $8.00 price target on the stock, down previously from $17.00.MarketBeat
WOLF
Earnings
- 8/21/24 - Beat
WOLF
Sec Filings
- 8/26/24 - Form 4
- 8/26/24 - Form 4
- 8/22/24 - Form 10-K
- WOLF's page on the SEC website