Brinker Capital Investments LLC Decreases Stake in Wolfspeed, Inc. (NYSE:WOLF)

Brinker Capital Investments LLC reduced its stake in shares of Wolfspeed, Inc. (NYSE:WOLF – Get Rating) by 20.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 9,994 shares of the company’s stock after selling 2,504 shares during the period. Brinker Capital Investments LLC’s holdings in Wolfspeed were worth $1,033,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Money Concepts Capital Corp raised its stake in shares of Wolfspeed by 534.0% during the 3rd quarter. Money Concepts Capital Corp now owns 317 shares of the company’s stock worth $33,000 after buying an additional 267 shares during the last quarter. Allworth Financial LP raised its stake in shares of Wolfspeed by 57.5% during the 3rd quarter. Allworth Financial LP now owns 408 shares of the company’s stock worth $42,000 after buying an additional 149 shares during the last quarter. Fifth Third Bancorp raised its stake in shares of Wolfspeed by 27.6% during the 3rd quarter. Fifth Third Bancorp now owns 532 shares of the company’s stock worth $55,000 after buying an additional 115 shares during the last quarter. Wipfli Financial Advisors LLC acquired a new position in shares of Wolfspeed during the 3rd quarter worth $116,000. Finally, Capital Impact Advisors LLC acquired a new position in shares of Wolfspeed during the 2nd quarter worth $136,000.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

WOLF has been the subject of several research reports. Citigroup cut their price target on Wolfspeed from $115.00 to $100.00 and set a “buy” rating for the company in a research note on Friday, November 4th. Cowen cut their target price on shares of Wolfspeed from $125.00 to $100.00 and set an “outperform” rating for the company in a research note on Thursday, October 27th. Susquehanna began coverage on shares of Wolfspeed in a research note on Monday, December 12th. They issued a “neutral” rating and a $90.00 target price for the company. StockNews.com began coverage on shares of Wolfspeed in a research note on Wednesday, October 12th. They issued a “sell” rating for the company. Finally, Wells Fargo & Company cut their target price on shares of Wolfspeed from $130.00 to $110.00 and set an “overweight” rating for the company in a research note on Thursday, October 27th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Wolfspeed currently has an average rating of “Moderate Buy” and a consensus target price of $102.67.

Wolfspeed Stock Up 4.7 %

Shares of NYSE:WOLF opened at $79.92 on Monday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 3.97 and a current ratio of 4.61. Wolfspeed, Inc. has a 1 year low of $58.07 and a 1 year high of $125.48. The stock has a market capitalization of $9.93 billion, a P/E ratio of -61.01 and a beta of 1.46. The stock has a 50-day simple moving average of $79.98 and a 200-day simple moving average of $93.31.

Wolfspeed (NYSE:WOLF – Get Rating) last issued its earnings results on Wednesday, October 26th. The company reported ($0.22) earnings per share (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 firm had revenue of $241.30 million for the quarter, compared to analysts’ expectations of $239.76 million. Equities analysts forecast that Wolfspeed, Inc. will post -0.94 earnings per share for the current year.

Wolfspeed Company Profile

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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.