Wolfspeed, Inc. (NYSE:WOLF) Shares Sold by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. lessened its stake in shares of Wolfspeed, Inc. (NYSE:WOLF - Free Report) by 96.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,987 shares of the company's stock after selling 56,658 shares during the period. Asset Management One Co. Ltd.'s holdings in Wolfspeed were worth $90,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Independence Bank of Kentucky raised its holdings 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 buying an additional 350 shares during the period. First Manhattan CO. LLC. purchased a new stake in Wolfspeed in the 1st quarter valued at about $39,000. Penserra Capital Management LLC purchased a new stake in Wolfspeed in the 4th quarter valued at about $43,000. Aspire Private Capital LLC purchased a new stake in Wolfspeed in the 3rd quarter valued at about $76,000. Finally, IFP Advisors Inc raised its holdings in Wolfspeed by 213.7% in the 2nd quarter. IFP Advisors Inc now owns 1,468 shares of the company's stock valued at $82,000 after buying an additional 1,000 shares during the period.

Wolfspeed Stock Down 2.6 %

WOLF traded down $0.69 on Monday, reaching $25.56. The company's stock had a trading volume of 3,623,268 shares, compared to its average volume of 4,617,017. The stock has a 50 day moving average of $27.21 and a two-hundred day moving average of $32.93. The company has a quick ratio of 4.58, a current ratio of 5.13 and a debt-to-equity ratio of 4.50. The company has a market capitalization of $3.22 billion, a price-to-earnings ratio of -4.20 and a beta of 1.66. Wolfspeed, Inc. has a fifty-two week low of $23.54 and a fifty-two week high of $70.42.

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

Insider Buying and Selling at Wolfspeed

In other news, Director Darren R. Jackson acquired 10,000 shares of Wolfspeed stock in a transaction on Friday, February 2nd. The stock was bought at an average price of $25.80 per share, for a total transaction of $258,000.00. Following the completion of the purchase, the director now owns 49,021 shares in the company, valued at $1,264,741.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.85% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

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

Wolfspeed 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.