Wolfspeed shares drop after Mizuho downgrade to sell [Yahoo! Finance]
Wolfspeed, Inc. (WOLF)
Company Research
Source: Yahoo! Finance
The downgrade comes in response to several headwinds identified by the analysts, including a slower global electric vehicle (EV) sales forecast for the second half of 2024 and the full year of 2025, increased silicon carbide (SiC) supply from China, and anticipated reductions in SiC pricing. Mizuho highlighted a significant slowdown in the EV market, with growth expectations for 2024 falling to an estimated 6% year-over-year increase, down from previous estimates of 33%. The forecast for 2025 has also been reduced, with EV sales now expected to grow by only about 10% year-over-year, well below the previous forecast of 40%. Analysts also pointed out the increasing competition from China in the SiC market, with Chinese suppliers expected to ramp up production by 50-100% year-over-year in 2025, potentially leading to oversupply. This, coupled with lower pricing from Chinese competitors, is expected to exert further pressure on SiC pricing and margins. Notably, Wolfspeed's position
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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 dips after Mizuho cuts rating on silicon carbide pricing, supply headwinds [Seeking Alpha]Seeking Alpha
- 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