Wolfspeed, Inc. (NYSE:WOLF) Stock Holdings Boosted by SG Americas Securities LLC

SG Americas Securities LLC boosted its stake in Wolfspeed, Inc. (NYSE:WOLF - Free Report) by 74.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 102,285 shares of the company's stock after buying an additional 43,536 shares during the quarter. SG Americas Securities LLC owned approximately 0.08% of Wolfspeed worth $681,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Eastern Bank purchased a new stake in Wolfspeed during the 3rd quarter valued at about $27,000. GAMMA Investing LLC grew its position in shares of Wolfspeed by 416.4% in the third quarter. GAMMA Investing LLC now owns 4,544 shares of the company's stock valued at $44,000 after purchasing an additional 3,664 shares in the last quarter. Asset Management One Co. Ltd. grew its position in shares of Wolfspeed by 69.0% in the third quarter. Asset Management One Co. Ltd. now owns 7,067 shares of the company's stock valued at $69,000 after purchasing an additional 2,885 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in Wolfspeed during the second quarter worth approximately $220,000. Finally, Arkadios Wealth Advisors acquired a new position in Wolfspeed during the fourth quarter worth $67,000.

Insiders Place Their Bets

In other news, Director Darren R. Jackson acquired 36,975 shares of the stock in a transaction on Wednesday, November 20th. The stock was bought at an average price of $6.76 per share, with a total value of $249,951.00. Following the completion of the transaction, the director now directly owns 85,996 shares of the company's stock, valued at $581,332.96. The trade was a 75.43 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Thomas H. Werner purchased 37,500 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were purchased at an average cost of $6.53 per share, with a total value of $244,875.00. Following the completion of the acquisition, the chairman now owns 108,549 shares in the company, valued at approximately $708,824.97. This represents a 52.78 % increase in their position. The disclosure for this purchase can be found here. Insiders bought 78,067 shares of company stock worth $524,747 over the last three months. 0.84% of the stock is owned by insiders.

Wolfspeed Trading Down 7.9 %

Shares of Wolfspeed stock traded down $0.49 during mid-day trading on Monday, hitting $5.65. 12,346,565 shares of the stock were exchanged, compared to its average volume of 19,463,154. The company has a 50-day simple moving average of $7.44 and a 200 day simple moving average of $10.39. 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 $720.92 million, a price-to-earnings ratio of -0.74 and a beta of 1.43. Wolfspeed, Inc. has a twelve month low of $4.66 and a twelve month high of $30.87.

Wolfspeed (NYSE:WOLF - Get Free Report) last released its earnings results on Wednesday, January 29th. The company reported ($1.10) EPS for the quarter, missing the consensus estimate of ($0.90) by ($0.20). Wolfspeed had a negative net margin of 125.96% and a negative return on equity of 70.84%. Research analysts forecast that Wolfspeed, Inc. will post -4.2 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on WOLF. Susquehanna lowered their price target on shares of Wolfspeed from $11.00 to $7.00 and set a "neutral" rating on the stock in a research report on Wednesday, January 22nd. Canaccord Genuity Group decreased their target price on shares of Wolfspeed from $18.00 to $10.00 and set a "buy" rating on the stock in a report on Thursday. The Goldman Sachs Group cut their price target on shares of Wolfspeed from $17.00 to $15.00 and set a "buy" rating for the company in a report on Thursday. Bank of America decreased their price objective on Wolfspeed from $9.50 to $6.00 and set an "underperform" rating on the stock in a report on Thursday. Finally, JPMorgan Chase & Co. cut their target price on Wolfspeed from $20.00 to $17.00 and set a "neutral" rating for the company in a research note on Thursday, November 7th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $14.86.

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.