Wolfspeed, Inc. (NYSE:WOLF) Shares Acquired by Capital Investment Advisory Services LLC

Capital Investment Advisory Services LLC lifted its stake in shares of Wolfspeed, Inc. (NYSE:WOLF) by 6.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,665 shares of the company’s stock after acquiring an additional 500 shares during the quarter. Capital Investment Advisory Services LLC’s holdings in Wolfspeed were worth $377,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Slow Capital Inc. grew its position in Wolfspeed by 5.9% in the third quarter. Slow Capital Inc. now owns 43,220 shares of the company’s stock worth $1,647,000 after buying an additional 2,419 shares during the last quarter. Hardman Johnston Global Advisors LLC grew its position in Wolfspeed by 0.9% during the 3rd quarter. Hardman Johnston Global Advisors LLC now owns 633,813 shares of the company’s stock worth $24,148,000 after purchasing an additional 5,760 shares in the last quarter. Commonwealth Equity Services LLC grew its position in Wolfspeed by 27.0% during the 3rd quarter. Commonwealth Equity Services LLC now owns 39,392 shares of the company’s stock worth $1,501,000 after purchasing an additional 8,374 shares in the last quarter. Raymond James & Associates grew its position in Wolfspeed by 1.6% during the 3rd quarter. Raymond James & Associates now owns 181,867 shares of the company’s stock worth $6,929,000 after purchasing an additional 2,943 shares in the last quarter. Finally, Weybosset Research & Management LLC grew its position in Wolfspeed by 5.7% during the 3rd quarter. Weybosset Research & Management LLC now owns 13,959 shares of the company’s stock worth $532,000 after purchasing an additional 748 shares in the last quarter.

Insiders Place Their Bets

In other news, Director Darren R. Jackson acquired 10,000 shares of the firm’s stock in a transaction on Friday, February 2nd. The shares were purchased at an average cost of $25.80 per share, with a total value of $258,000.00. Following the completion of the purchase, the director now owns 49,021 shares of the company’s stock, valued at $1,264,741.80. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.85% of the company’s stock.

Wolfspeed Trading Down 5.7 %

NYSE WOLF opened at $22.57 on Wednesday. The company’s 50-day simple moving average is $26.71 and its 200 day simple moving average is $32.45. Wolfspeed, Inc. has a twelve month low of $21.85 and a twelve month high of $70.42. The company has a debt-to-equity ratio of 4.50, a current ratio of 5.13 and a quick ratio of 4.58.

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

Analyst Ratings Changes

A number of equities research analysts have issued reports on WOLF shares. Piper Sandler decreased their target price on shares of Wolfspeed from $55.00 to $45.00 and set an “overweight” rating for the company in a research note on Thursday, February 1st. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Wolfspeed from $35.00 to $30.00 and set a “hold” rating for the company in a research note on Tuesday. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $30.00 price objective (down previously from $55.00) on shares of Wolfspeed in a research note on Wednesday, April 3rd. JPMorgan Chase & Co. reduced their price objective on shares of Wolfspeed from $43.00 to $35.00 and set a “neutral” rating for the company in a research note on Thursday, April 11th. Finally, Mizuho initiated coverage on shares of Wolfspeed in a research note on Friday, April 5th. They issued a “neutral” rating and a $30.00 price objective for the company. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $41.88.

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.