Wolfspeed, Inc. (NYSE:WOLF) Shares Bought by Slow Capital Inc.

Slow Capital Inc. raised its position in shares of Wolfspeed, Inc. (NYSE:WOLF) by 53.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 210,496 shares of the company’s stock after purchasing an additional 73,107 shares during the quarter. Slow Capital Inc. owned 0.17% of Wolfspeed worth $2,042,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Mather Group LLC. raised its holdings in shares of Wolfspeed by 385.5% during the second quarter. Mather Group LLC. now owns 1,175 shares of the company’s stock worth $27,000 after purchasing an additional 933 shares during the last quarter. Advisors Asset Management Inc. raised its stake in shares of Wolfspeed by 64.8% during the 1st quarter. Advisors Asset Management Inc. now owns 1,757 shares of the company’s stock valued at $52,000 after buying an additional 691 shares during the last quarter. Signaturefd LLC lifted its holdings in shares of Wolfspeed by 284.3% in the 2nd quarter. Signaturefd LLC now owns 2,087 shares of the company’s stock valued at $48,000 after buying an additional 1,544 shares during the period. Sunbelt Securities Inc. boosted its stake in shares of Wolfspeed by 34.7% in the first quarter. Sunbelt Securities Inc. now owns 2,724 shares of the company’s stock worth $80,000 after buying an additional 702 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Wolfspeed during the second quarter worth about $75,000.

Analyst Ratings Changes

WOLF has been the subject of a number of analyst reports. New Street Research downgraded Wolfspeed from a “buy” rating to a “neutral” rating and set a $18.00 price target for the company. in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Wolfspeed from $17.00 to $14.00 and set a “hold” rating on the stock in a report on Thursday, August 22nd. Piper Sandler cut their price objective on shares of Wolfspeed from $35.00 to $20.00 and set an “overweight” rating for the company in a report on Thursday, August 22nd. Canaccord Genuity Group lowered their target price on shares of Wolfspeed from $45.00 to $25.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Finally, Morgan Stanley lifted their price target on Wolfspeed from $10.00 to $15.00 and gave the company an “equal weight” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $22.43.

Wolfspeed Stock Down 1.2 %

NYSE WOLF opened at $16.01 on Friday. The business has a fifty day moving average price of $10.48 and a 200 day moving average price of $19.35. The company has a debt-to-equity ratio of 6.99, a quick ratio of 3.85 and a current ratio of 4.51. The company has a market cap of $2.01 billion, a P/E ratio of -2.48 and a beta of 1.52. Wolfspeed, Inc. has a one year low of $7.28 and a one year high of $47.43.

Wolfspeed (NYSE:WOLF) last issued its earnings results on Wednesday, August 21st. The company reported ($1.06) EPS for the quarter, missing analysts’ consensus estimates of ($1.03) by ($0.03). The business had revenue of $200.70 million during the quarter, compared to analyst estimates of $201.11 million. Wolfspeed had a negative net margin of 107.93% and a negative return on equity of 37.76%. Research analysts anticipate that Wolfspeed, Inc. will post -3.84 EPS for the current fiscal year.

Wolfspeed Company Profile

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.