Wolfspeed, Inc. (NYSE:WOLF) Holdings Raised by Slow Capital Inc.

Slow Capital Inc. lifted its stake in shares of Wolfspeed, Inc. (NYSE:WOLF) by 9.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 47,305 shares of the company’s stock after purchasing an additional 4,085 shares during the quarter. Slow Capital Inc.’s holdings in Wolfspeed were worth $2,058,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Envestnet Asset Management Inc. increased its stake in Wolfspeed by 234.5% in the 3rd quarter. Envestnet Asset Management Inc. now owns 168,103 shares of the company’s stock worth $6,405,000 after purchasing an additional 117,848 shares in the last quarter. Vanguard Group Inc. increased its stake in Wolfspeed by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 12,471,667 shares of the company’s stock worth $475,171,000 after purchasing an additional 188,236 shares in the last quarter. Boston Partners purchased a new position in Wolfspeed in the 3rd quarter worth about $2,032,000. UBS Group AG increased its stake in Wolfspeed by 57.5% in the 3rd quarter. UBS Group AG now owns 219,080 shares of the company’s stock worth $8,347,000 after purchasing an additional 80,011 shares in the last quarter. Finally, UniSuper Management Pty Ltd increased its stake in Wolfspeed by 86.7% in the 3rd quarter. UniSuper Management Pty Ltd now owns 703,822 shares of the company’s stock worth $26,816,000 after purchasing an additional 326,810 shares in the last quarter.

Insider Buying and Selling

In other Wolfspeed news, Director Darren R. Jackson purchased 10,000 shares of the business’s stock in a transaction dated Friday, February 2nd. The stock was bought at an average cost of $25.80 per share, for a total transaction of $258,000.00. Following the completion of the acquisition, the director now directly owns 49,021 shares in the company, valued at $1,264,741.80. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.85% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on WOLF. JPMorgan Chase & Co. dropped their price target on Wolfspeed from $43.00 to $35.00 and set a “neutral” rating on the stock in a research note on Thursday, April 11th. Mizuho began coverage on Wolfspeed in a research note on Friday, April 5th. They set a “neutral” rating and a $30.00 target price on the stock. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $30.00 target price (down previously from $55.00) on shares of Wolfspeed in a research note on Wednesday, April 3rd. Susquehanna reaffirmed a “neutral” rating and set a $35.00 target price on shares of Wolfspeed in a research note on Monday, April 8th. Finally, Piper Sandler lowered their target price on Wolfspeed from $55.00 to $45.00 and set an “overweight” rating on the stock in a research note on Thursday, February 1st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $43.63.

Wolfspeed Trading Down 0.4 %

WOLF traded down $0.11 on Wednesday, hitting $25.44. The company had a trading volume of 5,738,370 shares, compared to its average volume of 3,506,874. The company’s fifty day moving average price is $27.18 and its 200 day moving average price is $32.84. Wolfspeed, Inc. has a 1-year low of $23.54 and a 1-year high of $70.42. The company has a quick ratio of 4.58, a current ratio of 5.13 and a debt-to-equity ratio of 4.50.

Wolfspeed (NYSE:WOLF) last posted its earnings results on Wednesday, January 31st. The company reported ($0.69) earnings per share for the quarter, topping the consensus estimate of ($0.79) by $0.10. Wolfspeed had a negative return on equity of 19.35% and a negative net margin of 87.35%. The firm had revenue of $208.40 million during the quarter, compared to analyst estimates of $205.94 million. Equities analysts anticipate that Wolfspeed, Inc. will post -3.05 earnings per share for the current year.

About Wolfspeed

Wolfspeed, Inc operates as a powerhouse semiconductor company focuses on silicon carbide and gallium nitride (GaN) technologies in Europe, Hong Kong, China, rest of Asia-Pacific, the United States, and internationally. It offers silicon carbide and GaN materials, including silicon carbide bare wafers, epitaxial wafers, and GaN epitaxial layers on silicon carbide wafers to manufacture products for RF, power, and other applications.