288,894 Shares in Wolfspeed, Inc. (NYSE:WOLF) Acquired by Yaupon Capital Management LP

Yaupon Capital Management LP bought a new stake in shares of Wolfspeed, Inc. (NYSE:WOLF) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 288,894 shares of the company’s stock, valued at approximately $1,924,000.

Other institutional investors have also recently made changes to their positions in the company. Jones Financial Companies Lllp boosted its holdings in Wolfspeed by 1,240.6% in the fourth quarter. Jones Financial Companies Lllp now owns 3,834 shares of the company’s stock worth $26,000 after purchasing an additional 3,548 shares during the last quarter. R Squared Ltd purchased a new stake in Wolfspeed during the fourth quarter valued at $28,000. Steward Partners Investment Advisory LLC lifted its holdings in Wolfspeed by 192.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,429 shares of the company’s stock valued at $29,000 after acquiring an additional 2,912 shares during the period. KBC Group NV boosted its position in Wolfspeed by 76.5% in 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 last quarter. Finally, Allworth Financial LP grew its stake in shares of Wolfspeed by 38.1% during the 4th quarter. Allworth Financial LP now owns 7,060 shares of the company’s stock valued at $44,000 after purchasing an additional 1,949 shares during the period.

Wolfspeed Stock Performance

Shares of NYSE:WOLF opened at $2.45 on Tuesday. The company has a current ratio of 3.15, a quick ratio of 2.47 and a debt-to-equity ratio of 17.26. The company has a market capitalization of $312.90 million, a price-to-earnings ratio of -0.32 and a beta of 1.69. Wolfspeed, Inc. has a 12 month low of $2.06 and a 12 month high of $30.86. The firm’s 50-day moving average is $4.59 and its 200 day moving average is $7.34.

Wolfspeed (NYSE:WOLF) last released its earnings results on Wednesday, January 29th. The company reported ($1.10) earnings per share 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%. Research analysts predict that Wolfspeed, Inc. will post -4 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have commented on WOLF. The Goldman Sachs Group reduced their target price on shares of Wolfspeed from $15.00 to $8.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. Susquehanna reduced their price objective on shares of Wolfspeed from $11.00 to $7.00 and set a “neutral” rating for the company in a research note on Wednesday, January 22nd. StockNews.com raised Wolfspeed to a “sell” rating in a report on Monday, January 6th. Piper Sandler reduced their price objective on shares of Wolfspeed from $18.00 to $10.00 and set an “overweight” rating on the stock in a research report on Thursday, January 30th. Finally, Canaccord Genuity Group dropped their target price on shares of Wolfspeed from $18.00 to $10.00 and set a “buy” rating for the company in a research report on Thursday, January 30th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Wolfspeed currently has a consensus rating of “Hold” and a consensus price target of $13.15.

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.