Dimensional Fund Advisors LP Has $3.68 Million Stake in Wolfspeed, Inc. (NYSE:WOLF)

Dimensional Fund Advisors LP grew its position in Wolfspeed, Inc. (NYSE:WOLF - Free Report) by 16.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 552,953 shares of the company's stock after purchasing an additional 78,638 shares during the period. Dimensional Fund Advisors LP owned about 0.43% of Wolfspeed worth $3,683,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Jones Financial Companies Lllp increased its holdings in shares of Wolfspeed by 1,240.6% during the 4th quarter. Jones Financial Companies Lllp now owns 3,834 shares of the company's stock valued at $26,000 after acquiring an additional 3,548 shares during the last quarter. R Squared Ltd acquired a new position in shares of Wolfspeed during the 4th quarter valued at about $28,000. Steward Partners Investment Advisory LLC increased its holdings in shares of Wolfspeed by 192.0% during the 4th 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 last quarter. KBC Group NV increased its holdings in shares of Wolfspeed by 76.5% during the 4th quarter. KBC Group NV now owns 6,064 shares of the company's stock valued at $40,000 after acquiring an additional 2,629 shares during the last quarter. Finally, Allworth Financial LP increased its holdings 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 acquiring an additional 1,949 shares during the last quarter.

Insider Activity at Wolfspeed

In other Wolfspeed news, CFO Neill Reynolds sold 13,909 shares of the business's stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $3.99, for a total value of $55,496.91. Following the transaction, the chief financial officer now directly owns 195,257 shares in the company, valued at $779,075.43. The trade was a 6.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.84% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on WOLF. Piper Sandler lowered their price objective on Wolfspeed from $10.00 to $6.00 and set an "overweight" rating on the stock in a report on Friday, May 9th. Susquehanna dropped their price target on Wolfspeed from $11.00 to $7.00 and set a "neutral" rating on the stock in a research report on Wednesday, January 22nd. Canaccord Genuity Group reduced their price objective on Wolfspeed from $18.00 to $10.00 and set a "buy" rating for the company in a research report on Thursday, January 30th. The Goldman Sachs Group dropped their target price on shares of Wolfspeed from $15.00 to $8.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. Finally, JPMorgan Chase & Co. reiterated an "underweight" rating on shares of Wolfspeed in a research note on Friday, May 9th. Five analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $11.15.

Wolfspeed Price Performance

Shares of WOLF traded up $0.07 during mid-day trading on Friday, reaching $3.88. The company had a trading volume of 16,462,114 shares, compared to its average volume of 15,098,058. Wolfspeed, Inc. has a twelve month low of $2.06 and a twelve month high of $30.86. 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 company's 50-day moving average is $3.70 and its 200-day moving average is $6.13. The company has a market capitalization of $603.05 million, a P/E ratio of -0.50 and a beta of 1.62.

Wolfspeed (NYSE:WOLF - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.72) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.82) by $0.10. Wolfspeed had a negative return on equity of 70.84% and a negative net margin of 125.96%. The firm had revenue of $185.40 million during the quarter, compared to analyst estimates of $190.03 million. During the same period in the prior year, the company posted ($0.62) earnings per share. The business's revenue for the quarter was down 7.6% compared to the same quarter last year. On average, equities analysts anticipate that Wolfspeed, Inc. will post -4 EPS 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.