Deutsche Bank lowered the firm’s price target on Wolfspeed (WOLF) to $48 from $60 and keeps a Hold rating on the shares after updating forecasts following the announcement in August of the sale of the RF business to Macom (MTSI) for a total consideration of $125M. With the transaction expected to close by year end, the firm now presents Wolfspeed’s financials for continuing operations excluding the RF business, the analyst noted.
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Read More on WOLF:
- Wolfspeed put volume heavy and directionally bearish
- Wolfspeed price target lowered to $42 from $44 at Morgan Stanley
- Craig-Hallum upgrades Macom to Buy on inventory cycle, Wolfspeed acquisition
- Macom upgraded to Buy from Hold at Benchmark
- Wolfspeed director buys $235K in common stock
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