South Dakota Investment Council Grows Stock Holdings in Wolfspeed, Inc. (NYSE:WOLF)

South Dakota Investment Council lifted its stake in shares of Wolfspeed, Inc. (NYSE:WOLF - Free Report) by 26.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 717,482 shares of the company's stock after buying an additional 149,648 shares during the quarter. South Dakota Investment Council owned 0.56% of Wolfspeed worth $4,778,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of WOLF. Primecap Management Co. CA raised its stake in Wolfspeed by 5.0% during the 3rd quarter. Primecap Management Co. CA now owns 6,349,180 shares of the company's stock valued at $61,587,000 after acquiring an additional 303,870 shares in the last quarter. Two Sigma Advisers LP grew its holdings in shares of Wolfspeed by 813.6% during the third quarter. Two Sigma Advisers LP now owns 2,458,600 shares of the company's stock valued at $23,848,000 after buying an additional 2,189,500 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Wolfspeed by 2.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 871,191 shares of the company's stock valued at $8,451,000 after purchasing an additional 21,143 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in Wolfspeed by 1,158.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 833,201 shares of the company's stock valued at $8,082,000 after purchasing an additional 766,971 shares in the last quarter. Finally, Iridian Asset Management LLC CT lifted its position in shares of 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 buying an additional 295,025 shares during the last quarter.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Susquehanna cut 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. Roth Mkm dropped their price objective on Wolfspeed from $25.00 to $20.00 and set a "buy" rating on the stock in a research note on Thursday, November 7th. Canaccord Genuity Group dropped their price objective on Wolfspeed from $18.00 to $10.00 and set a "buy" rating on the stock in a research note on Thursday, January 30th. Bank of America lowered their target price on Wolfspeed from $9.50 to $6.00 and set an "underperform" rating for the company in a report on Thursday, January 30th. Finally, StockNews.com upgraded Wolfspeed to a "sell" rating in a report on Monday, January 6th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $14.86.

Wolfspeed Stock Down 4.3 %

WOLF stock traded down $0.27 during trading on Thursday, reaching $5.88. The stock had a trading volume of 33,368,797 shares, compared to its average volume of 19,475,568. Wolfspeed, Inc. has a one year low of $4.66 and a one year high of $30.86. The company has a quick ratio of 2.47, a current ratio of 3.15 and a debt-to-equity ratio of 17.26. The company's 50 day moving average is $6.35 and its two-hundred day moving average is $8.99. The company has a market capitalization of $750.31 million, a price-to-earnings ratio of -0.76 and a beta of 1.43.

Wolfspeed (NYSE:WOLF - Get Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The company reported ($1.10) earnings per share (EPS) 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 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.