WOLF - Wolfspeed's Future Relies On Mohawk Valley Fab: Analyst | Benzinga
Piper Sandler analyst Harsh V. Kumar reiterated the Overweight rating on Wolfspeed, Inc. (NYSE: WOLF), lowering the price target to $55 from $75.
The company will publish its Q1 results on Monday, October 30, 2023.
Given the sale of the RF business to MACOM Technology Solutions Holdings, Inc. (NASDAQ: MTSI), the analyst now models ~$195 million in revenues versus ~$231 million previously, reflecting a $35 million contribution from the legacy RF segment.
On the operating expenses side, the analyst lowers the total opex to $109 million versus $120 million prior to ...