Calamos Advisors LLC Takes Position in Wolfspeed, Inc. $WOLF

Key Points

• Calamos Advisors LLC bought a new position of 715,138 shares in Wolfspeed valued at about $12.45 million, representing roughly 2.76% of the company at quarter-end.
• Several other institutional investors—including Capital Research, UBS Asset Management and Goldman Sachs—also initiated or significantly increased stakes, signaling rising institutional interest in the stock.
• Wolfspeed recently reported a large quarterly EPS miss ($-6.11 vs. -$0.74 est.) with revenue down 6.6%, and analysts’ consensus is a "Reduce" rating with an average target price of $14.33 (market cap ~$1.4B, negative P/E).

Calamos Advisors LLC acquired a new position in Wolfspeed, Inc. (NYSE:WOLF - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 715,138 shares of the company's stock, valued at approximately $12,451,000. Calamos Advisors LLC owned about 2.76% of Wolfspeed at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Capital Research Global Investors purchased a new stake in Wolfspeed in the third quarter worth approximately $79,426,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Wolfspeed by 94.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,868,741 shares of the company's stock valued at $5,718,000 after purchasing an additional 906,968 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Wolfspeed by 176.7% during the first quarter. Goldman Sachs Group Inc. now owns 1,380,499 shares of the company's stock valued at $4,224,000 after acquiring an additional 881,603 shares in the last quarter. Ilex Capital Partners UK LLP raised its holdings in shares of Wolfspeed by 499.1% during the second quarter. Ilex Capital Partners UK LLP now owns 665,697 shares of the company's stock valued at $265,000 after acquiring an additional 554,587 shares in the last quarter. Finally, Camden Asset Management L P CA bought a new position in shares of Wolfspeed during the third quarter valued at approximately $9,452,000.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Wall Street Zen downgraded Wolfspeed from a "hold" rating to a "sell" rating in a report on Saturday, February 7th. Susquehanna reduced their price target on Wolfspeed from $30.00 to $20.00 and set a "neutral" rating for the company in a report on Thursday, January 22nd. Zacks Research upgraded Wolfspeed to a "hold" rating in a report on Monday, February 9th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Wolfspeed in a report on Friday, March 27th. Finally, Piper Sandler reissued an "overweight" rating and issued a $20.00 target price (up from $6.00) on shares of Wolfspeed in a research report on Thursday, February 5th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Reduce" and an average target price of $14.33.

Wolfspeed Price Performance

NYSE:WOLF opened at $31.13 on Friday. Wolfspeed, Inc. has a 1 year low of $8.05 and a 1 year high of $36.60. The stock's 50 day simple moving average is $19.92 and its two-hundred day simple moving average is $20.65. The company has a market cap of $1.40 billion and a price-to-earnings ratio of -4.42.

Wolfspeed (NYSE:WOLF - Get Free Report) last released its quarterly earnings data on Wednesday, January 28th. The company reported ($6.11) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.74) by ($5.37). During the same period last year, the company earned ($0.95) earnings per share. The company's revenue was down 6.6% on a year-over-year basis.

Wolfspeed Company Profile

Wolfspeed, Inc NYSE: WOLF is a leading developer and manufacturer of silicon carbide (SiC) and gallium nitride (GaN) semiconductor materials and devices. The company's product portfolio addresses high-growth markets such as electric vehicles, renewable energy, fast-charging infrastructure, aerospace and defense, and telecommunications. By leveraging proprietary materials and device designs, Wolfspeed delivers solutions that offer improved energy efficiency, higher power density and greater thermal performance compared to conventional silicon-based semiconductors.

Founded as part of Cree, Inc and spun off to form an independent public company in October 2021, Wolfspeed traces its roots to the mid-1980s when it pioneered the commercial use of wide-bandgap semiconductor technology.

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