Wolfspeed, Inc. (NYSE:WOLF) Shares Acquired by US Bancorp DE

US Bancorp DE grew its position in Wolfspeed, Inc. (NYSE:WOLF – Get Rating) by 13.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,053 shares of the company’s stock after purchasing an additional 852 shares during the period. US Bancorp DE’s holdings in Wolfspeed were worth $729,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of WOLF. Money Concepts Capital Corp increased its holdings in shares of Wolfspeed by 534.0% in the third quarter. Money Concepts Capital Corp now owns 317 shares of the company’s stock valued at $33,000 after purchasing an additional 267 shares during the period. Allworth Financial LP increased its holdings in shares of Wolfspeed by 57.5% in the third quarter. Allworth Financial LP now owns 408 shares of the company’s stock valued at $42,000 after purchasing an additional 149 shares during the period. Fifth Third Bancorp grew its holdings in Wolfspeed by 27.6% during the third quarter. Fifth Third Bancorp now owns 532 shares of the company’s stock worth $55,000 after acquiring an additional 115 shares during the period. Wipfli Financial Advisors LLC acquired a new stake in Wolfspeed during the third quarter worth about $116,000. Finally, Capital Impact Advisors LLC acquired a new stake in Wolfspeed during the second quarter worth about $136,000.

Wolfspeed Stock Performance

NYSE WOLF opened at $79.92 on Friday. The company has a market cap of $9.93 billion, a PE ratio of -61.01 and a beta of 1.46. The stock’s 50 day simple moving average is $79.98 and its 200-day simple moving average is $93.17. Wolfspeed, Inc. has a 1-year low of $58.07 and a 1-year high of $125.48. The company has a debt-to-equity ratio of 0.62, a current ratio of 4.61 and a quick ratio of 3.97.

Wolfspeed (NYSE:WOLF – Get Rating) last announced its quarterly earnings data on Wednesday, October 26th. The company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.01). Wolfspeed had a negative return on equity of 4.40% and a negative net margin of 18.90%. The company had revenue of $241.30 million for the quarter, compared to analysts’ expectations of $239.76 million. As a group, equities research analysts anticipate that Wolfspeed, Inc. will post -0.94 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently commented on the company. Susquehanna Bancshares assumed coverage on Wolfspeed in a report on Monday, December 12th. They set a “neutral” rating and a $90.00 target price on the stock. Deutsche Bank Aktiengesellschaft dropped their target price on Wolfspeed from $90.00 to $80.00 in a report on Wednesday, January 11th. Morgan Stanley dropped their target price on Wolfspeed from $106.00 to $88.00 and set an “equal weight” rating on the stock in a report on Thursday, October 27th. Citigroup dropped their target price on Wolfspeed from $115.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, November 4th. Finally, Piper Sandler dropped their price objective on Wolfspeed from $130.00 to $100.00 in a report on Thursday, October 27th. Two analysts have rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Wolfspeed currently has a consensus rating of “Moderate Buy” and a consensus target price of $102.67.

Insider Buying and Selling

In related news, Director Duy Loan T. Le acquired 2,000 shares of Wolfspeed stock in a transaction that occurred on Friday, November 18th. The shares were purchased at an average price of $91.04 per share, for a total transaction of $182,080.00. Following the completion of the transaction, the director now owns 29,662 shares in the company, valued at approximately $2,700,428.48. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Wolfspeed news, Director Duy Loan T. Le bought 1,000 shares of the business’s stock in a transaction on Tuesday, November 1st. The stock was bought at an average price of $77.26 per share, with a total value of $77,260.00. Following the completion of the purchase, the director now directly owns 25,662 shares in the company, valued at $1,982,646.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Duy Loan T. Le bought 2,000 shares of the business’s stock in a transaction on Friday, November 18th. The shares were acquired at an average cost of $91.04 per share, with a total value of $182,080.00. Following the purchase, the director now owns 29,662 shares of the company’s stock, valued at $2,700,428.48. The disclosure for this purchase can be found here. 0.62% of the stock is currently owned by company insiders.

Wolfspeed Company Profile

(Get Rating)

Wolfspeed, Inc operates as a powerhouse semiconductor company focuses on silicon carbide and gallium nitride (GaN) technologies Europe, China, the United States, Japan, South Korea, 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.