Nebula Research & Development LLC grew its holdings in shares of Wolfspeed, Inc. (NYSE:WOLF - Free Report) by 152.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 143,320 shares of the company's stock after acquiring an additional 86,515 shares during the period. Nebula Research & Development LLC owned 0.11% of Wolfspeed worth $955,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in WOLF. Vanguard Group Inc. increased its holdings in shares of 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 in the last quarter. Charles Schwab Investment Management Inc. grew its position in Wolfspeed by 38.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,207,157 shares of the company's stock valued at $8,040,000 after purchasing an additional 335,966 shares during the period. South Dakota Investment Council increased its stake in Wolfspeed by 26.4% during the 4th quarter. South Dakota Investment Council now owns 717,482 shares of the company's stock valued at $4,778,000 after purchasing an additional 149,648 shares in the last quarter. Primecap Management Co. CA lifted its stake in shares of Wolfspeed by 2.7% in the fourth quarter. Primecap Management Co. CA now owns 6,519,164 shares of the company's stock valued at $43,418,000 after buying an additional 169,984 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Wolfspeed by 41.4% during the third quarter. Principal Financial Group Inc. now owns 592,599 shares of the company's stock worth $5,748,000 after acquiring an additional 173,409 shares in the last quarter.
Wall Street Analysts Forecast Growth
WOLF has been the subject of a number of analyst reports. Susquehanna cut their price target on Wolfspeed from $11.00 to $7.00 and set a "neutral" rating for the company in a research note on Wednesday, January 22nd. Piper Sandler cut their price target on shares of Wolfspeed from $18.00 to $10.00 and set an "overweight" rating on the stock in a report on Thursday, January 30th. Canaccord Genuity Group cut their target price on Wolfspeed from $18.00 to $10.00 and set a "buy" rating on the stock in a research note on Thursday, January 30th. StockNews.com raised Wolfspeed to a "sell" rating in a research report on Monday, January 6th. Finally, Bank of America cut their price objective on Wolfspeed from $9.50 to $6.00 and set an "underperform" rating on the stock in a research report on Thursday, January 30th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Wolfspeed presently has an average rating of "Hold" and a consensus target price of $13.15.
Check Out Our Latest Stock Report on WOLF
Insider Activity at Wolfspeed
In other news, CFO Neill Reynolds sold 13,909 shares of the firm's stock in a transaction that occurred on 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 owns 195,257 shares in the company, valued at approximately $779,075.43. This trade represents a 6.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.84% of the stock is owned by insiders.
Wolfspeed Price Performance
Shares of NYSE:WOLF traded up $0.88 during trading on Friday, reaching $4.48. The company had a trading volume of 79,515,735 shares, compared to its average volume of 14,028,539. The company has a fifty day moving average of $4.06 and a two-hundred day moving average of $6.99. Wolfspeed, Inc. has a 12 month low of $2.06 and a 12 month high of $30.86. 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 stock has a market capitalization of $572.15 million, a P/E ratio of -0.58 and a beta of 1.69.
Wolfspeed (NYSE:WOLF - Get Free Report) 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%. Equities research analysts forecast that Wolfspeed, Inc. will post -4 earnings per share for the current year.
About Wolfspeed
(
Free Report)
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.
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