Newbridge Financial Services Group Inc. Makes New Investment in Wolfspeed, Inc. (NYSE:WOLF)

Newbridge Financial Services Group Inc. purchased a new position in Wolfspeed, Inc. (NYSE:WOLF) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 7,775 shares of the company’s stock, valued at approximately $52,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of WOLF. Eastern Bank acquired a new stake in shares of Wolfspeed during the third quarter worth about $27,000. R Squared Ltd acquired a new stake in shares of Wolfspeed during the fourth quarter worth about $28,000. KBC Group NV lifted its holdings in shares of Wolfspeed by 76.5% during the fourth quarter. KBC Group NV now owns 6,064 shares of the company’s stock worth $40,000 after purchasing an additional 2,629 shares during the period. GAMMA Investing LLC raised its position in Wolfspeed by 416.4% during the third quarter. GAMMA Investing LLC now owns 4,544 shares of the company’s stock valued at $44,000 after acquiring an additional 3,664 shares in the last quarter. Finally, Valley National Advisers Inc. raised its position in Wolfspeed by 350.7% during the fourth quarter. Valley National Advisers Inc. now owns 9,461 shares of the company’s stock valued at $63,000 after acquiring an additional 7,362 shares in the last quarter.

Insider Transactions at Wolfspeed

In related news, Director Darren R. Jackson acquired 36,975 shares of the stock in a transaction on Wednesday, November 20th. The shares were bought at an average price of $6.76 per share, with a total value of $249,951.00. Following the completion of the purchase, the director now owns 85,996 shares of the company’s stock, valued at approximately $581,332.96. This represents a 75.43 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Thomas H. Werner acquired 37,500 shares of the stock in a transaction on Wednesday, November 20th. The shares were bought at an average cost of $6.53 per share, for a total transaction of $244,875.00. Following the purchase, the chairman now directly owns 108,549 shares of the company’s stock, valued at $708,824.97. The trade was a 52.78 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought 78,067 shares of company stock valued at $524,747 over the last ninety days. Insiders own 0.84% of the company’s stock.

Analyst Upgrades and Downgrades

WOLF has been the subject of several recent research reports. Bank of America reduced their price target on Wolfspeed from $9.50 to $6.00 and set an “underperform” rating for the company in a research report on Thursday, January 30th. StockNews.com upgraded Wolfspeed to a “sell” rating in a research report on Monday, January 6th. JPMorgan Chase & Co. reduced their price target on Wolfspeed from $20.00 to $17.00 and set a “neutral” rating for the company in a research report on Thursday, November 7th. Canaccord Genuity Group reduced their price target on Wolfspeed from $18.00 to $10.00 and set a “buy” rating for the company in a research report on Thursday, January 30th. Finally, Roth Mkm reduced their price target on Wolfspeed from $25.00 to $20.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Wolfspeed currently has a consensus rating of “Hold” and a consensus target price of $14.86.

Wolfspeed Stock Performance

Shares of NYSE:WOLF opened at $5.05 on Wednesday. The company has a debt-to-equity ratio of 17.26, a current ratio of 3.15 and a quick ratio of 2.47. The business’s 50 day moving average price is $6.87 and its 200-day moving average price is $9.66. The firm has a market capitalization of $644.30 million, a PE ratio of -0.66 and a beta of 1.43. Wolfspeed, Inc. has a 1 year low of $4.66 and a 1 year high of $30.87.

Wolfspeed (NYSE:WOLF) last issued its quarterly earnings results on Wednesday, January 29th. The company reported ($1.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.90) by ($0.20). Wolfspeed had a negative return on equity of 70.84% and a negative net margin of 125.96%. As a group, equities research analysts expect that Wolfspeed, Inc. will post -4.15 earnings per share 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.