DekaBank Deutsche Girozentrale Buys 48,427 Shares of Wolfspeed, Inc. (NYSE:WOLF)

DekaBank Deutsche Girozentrale grew its stake in Wolfspeed, Inc. (NYSE:WOLF - Free Report) by 418.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 60,000 shares of the company's stock after purchasing an additional 48,427 shares during the quarter. DekaBank Deutsche Girozentrale's holdings in Wolfspeed were worth $2,704,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. First Manhattan CO. LLC. acquired a new position in shares of Wolfspeed during the 1st quarter valued at about $39,000. Aspire Private Capital LLC grew its holdings in shares of Wolfspeed by 50.0% during the fourth quarter. Aspire Private Capital LLC now owns 600 shares of the company's stock worth $41,424,000,000 after purchasing an additional 200 shares during the last quarter. Penserra Capital Management LLC acquired a new position in Wolfspeed during the fourth quarter worth approximately $43,000. Independence Bank of Kentucky raised its position in Wolfspeed by 97.0% in the 4th quarter. Independence Bank of Kentucky now owns 711 shares of the company's stock valued at $31,000 after purchasing an additional 350 shares during the last quarter. Finally, Toroso Investments LLC acquired a new stake in shares of Wolfspeed during the third quarter worth about $131,000.

Insider Buying and Selling at Wolfspeed

In related news, Director Darren R. Jackson acquired 10,000 shares of the company's stock in a transaction that occurred on Friday, February 2nd. The stock was acquired at an average price of $25.80 per share, for a total transaction of $258,000.00. Following the completion of the acquisition, the director now owns 49,021 shares of the company's stock, valued at approximately $1,264,741.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.62% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on WOLF. Piper Sandler dropped their price target on shares of Wolfspeed from $55.00 to $45.00 and set an "overweight" rating on the stock in a research note on Thursday, February 1st. Mizuho started coverage on shares of Wolfspeed in a research report on Friday, April 5th. They set a "neutral" rating and a $30.00 target price for the company. JPMorgan Chase & Co. reduced their price objective on Wolfspeed from $43.00 to $35.00 and set a "neutral" rating on the stock in a research report on Thursday. Wells Fargo & Company reaffirmed an "equal weight" rating and issued a $30.00 price objective (down previously from $55.00) on shares of Wolfspeed in a research report on Wednesday, April 3rd. Finally, Susquehanna reaffirmed a "neutral" rating and set a $35.00 price target on shares of Wolfspeed in a research note on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $43.63.

Wolfspeed Stock Performance

NYSE:WOLF traded down $1.61 during trading hours on Friday, hitting $26.25. 4,256,108 shares of the company traded hands, compared to its average volume of 3,560,635. Wolfspeed, Inc. has a twelve month low of $23.54 and a twelve month high of $70.42. The stock has a market capitalization of $3.30 billion, a price-to-earnings ratio of -4.32 and a beta of 1.66. The firm has a 50-day moving average of $27.20 and a 200 day moving average of $33.05. The company has a current ratio of 5.13, a quick ratio of 4.58 and a debt-to-equity ratio of 4.50.

Wolfspeed (NYSE:WOLF - Get Free Report) last issued its earnings results on Wednesday, January 31st. The company reported ($0.69) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.79) by $0.10. The business had revenue of $208.40 million during the quarter, compared to analysts' expectations of $205.94 million. Wolfspeed had a negative return on equity of 19.35% and a negative net margin of 87.35%. On average, analysts forecast that Wolfspeed, Inc. will post -3.05 EPS for the current year.

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.