Wolfspeed (NYSE:WOLF) Stock Holdings Lifted by SG Americas Securities LLC

SG Americas Securities LLC boosted its holdings in Wolfspeed (NYSE:WOLF - Free Report) by 422.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 533,965 shares of the company's stock after buying an additional 431,680 shares during the period. SG Americas Securities LLC owned 0.42% of Wolfspeed worth $1,634,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of WOLF. Vanguard Group Inc. grew its position in Wolfspeed by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 15,924,290 shares of the company's stock valued at $106,056,000 after acquiring an additional 299,304 shares during the period. Primecap Management Co. CA increased its position in shares of Wolfspeed by 2.7% during the fourth quarter. Primecap Management Co. CA now owns 6,519,164 shares of the company's stock worth $43,418,000 after acquiring an additional 169,984 shares during the last quarter. Neuberger Berman Group LLC raised its position in shares of Wolfspeed by 4.3% in the 4th quarter. Neuberger Berman Group LLC now owns 2,506,626 shares of the company's stock valued at $16,701,000 after purchasing an additional 104,042 shares in the last quarter. Frontier Capital Management Co. LLC raised its holdings in Wolfspeed by 94.2% in the fourth quarter. Frontier Capital Management Co. LLC now owns 2,050,778 shares of the company's stock valued at $13,658,000 after acquiring an additional 995,020 shares in the last quarter. Finally, Voloridge Investment Management LLC lifted its position in shares of Wolfspeed by 0.7% during the fourth quarter. Voloridge Investment Management LLC now owns 1,915,695 shares of the company's stock worth $12,759,000 after purchasing an additional 12,660 shares during the last quarter.

Wolfspeed Price Performance

Shares of NYSE WOLF traded down $0.38 during midday trading on Thursday, reaching $0.87. The company's stock had a trading volume of 80,313,052 shares, compared to its average volume of 18,413,742. The company has a current ratio of 4.64, a quick ratio of 3.90 and a debt-to-equity ratio of 30.65. The company has a market cap of $134.78 million, a price-to-earnings ratio of -0.10 and a beta of 1.29. Wolfspeed has a one year low of $0.82 and a one year high of $25.60. The company has a 50 day moving average price of $2.46 and a 200 day moving average price of $4.86.

Wolfspeed (NYSE:WOLF - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.72) earnings per share for the quarter, topping the consensus estimate of ($0.82) by $0.10. The business had revenue of $185.40 million during the quarter, compared to analyst estimates of $190.03 million. Wolfspeed had a negative return on equity of 103.97% and a negative net margin of 146.43%. The company's revenue was down 7.6% compared to the same quarter last year. During the same period last year, the company posted ($0.62) EPS. On average, equities research analysts expect that Wolfspeed will post -4 EPS for the current year.

Insider Activity at Wolfspeed

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

Analysts Set New Price Targets

WOLF has been the subject of several research reports. The Goldman Sachs Group decreased their price target 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. Citigroup reissued a "sell" rating and issued a $3.00 price objective (down from $7.00) on shares of Wolfspeed in a report on Friday, May 9th. Piper Sandler cut their target price on Wolfspeed from $10.00 to $6.00 and set an "overweight" rating on the stock in a research note on Friday, May 9th. Finally, JPMorgan Chase & Co. reissued an "underweight" rating on shares of Wolfspeed in a research note on Friday, May 9th. Five equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, Wolfspeed currently has an average rating of "Hold" and a consensus price target of $11.15.

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.