Raiffeisen Bank International AG Takes $1.78 Million Position in Wolfspeed, Inc. (NYSE:WOLF)

Raiffeisen Bank International AG bought a new position in Wolfspeed, Inc. (NYSE:WOLF - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 264,000 shares of the company's stock, valued at approximately $1,782,000. Raiffeisen Bank International AG owned approximately 0.21% of Wolfspeed as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Frontier Capital Management Co. LLC increased its stake in shares of Wolfspeed by 94.2% during 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 purchasing an additional 995,020 shares in the last quarter. Erste Asset Management GmbH increased its position in Wolfspeed by 77.4% during the 4th quarter. Erste Asset Management GmbH now owns 793,518 shares of the company's stock valued at $5,773,000 after buying an additional 346,319 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Wolfspeed by 38.6% during 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 buying an additional 335,966 shares in the last quarter. Vanguard Group Inc. raised its stake 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 buying an additional 299,304 shares during the last quarter. Finally, Iridian Asset Management LLC CT boosted its holdings in Wolfspeed by 56.6% in the fourth quarter. Iridian Asset Management LLC CT now owns 816,183 shares of the company's stock worth $5,436,000 after acquiring an additional 295,025 shares in the last quarter.

Insiders Place Their Bets

In other Wolfspeed news, CFO Neill Reynolds sold 13,909 shares of the 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 transaction, the chief financial officer now directly owns 195,257 shares of the company's stock, valued at $779,075.43. This trade represents a 6.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.84% of the stock is currently owned by company insiders.

Wolfspeed Stock Performance

NYSE WOLF traded up $0.46 on Thursday, hitting $1.74. 74,678,628 shares of the company's stock traded hands, compared to its average volume of 16,617,246. The firm's 50-day moving average price is $3.54 and its two-hundred day moving average price is $5.90. The firm has a market capitalization of $270.17 million, a PE ratio of -0.23 and a beta of 1.62. The company has a current ratio of 3.15, a quick ratio of 2.47 and a debt-to-equity ratio of 17.26. Wolfspeed, Inc. has a 1-year low of $0.82 and a 1-year high of $30.86.

Wolfspeed (NYSE:WOLF - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported ($0.72) earnings per share for the quarter, beating the consensus estimate of ($0.82) by $0.10. The firm had revenue of $185.40 million during the quarter, compared to analyst estimates of $190.03 million. Wolfspeed had a negative net margin of 125.96% and a negative return on equity of 70.84%. The business's quarterly revenue was down 7.6% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.62) EPS. As a group, analysts expect that Wolfspeed, Inc. will post -4 EPS for the current year.

Wall Street Analyst Weigh In

WOLF has been the subject of several analyst reports. Susquehanna reduced their price target on Wolfspeed from $11.00 to $7.00 and set a "neutral" rating for the company in a report on Wednesday, January 22nd. JPMorgan Chase & Co. reiterated an "underweight" rating on shares of Wolfspeed in a report on Friday, May 9th. Citigroup reissued a "sell" rating and set a $3.00 price target (down previously from $7.00) on shares of Wolfspeed in a research report on Friday, May 9th. Bank of America lowered 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. Finally, Canaccord Genuity Group cut their price objective on shares of Wolfspeed from $18.00 to $10.00 and set a "buy" rating for the company in a research report on Thursday, January 30th. Five research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock 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.