D L Carlson Investment Group Inc. raised its position in Wolfspeed, Inc. (NYSE:WOLF – Get Rating) by 11.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 210,496 shares of the company’s stock after purchasing an additional 22,119 shares during the quarter. Wolfspeed makes up approximately 4.7% of D L Carlson Investment Group Inc.’s holdings, making the stock its 2nd biggest position. D L Carlson Investment Group Inc. owned about 0.17% of Wolfspeed worth $21,757,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Lazard Asset Management LLC acquired a new stake in shares of Wolfspeed in the third quarter worth about $25,000. Trustcore Financial Services LLC lifted its position in shares of Wolfspeed by 214.1% in the third quarter. Trustcore Financial Services LLC now owns 311 shares of the company’s stock worth $32,000 after buying an additional 212 shares during the last quarter. Money Concepts Capital Corp lifted its position in shares of Wolfspeed by 534.0% in the third 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 lifted its position in shares of Wolfspeed by 57.5% in the third 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. Finally, Bogart Wealth LLC lifted its position in shares of Wolfspeed by 774.5% in the third quarter. Bogart Wealth LLC now owns 411 shares of the company’s stock worth $42,000 after buying an additional 364 shares during the last quarter.
Analyst Ratings Changes
A number of analysts have weighed in on WOLF shares. Susquehanna reduced their price target on Wolfspeed from $90.00 to $88.00 and set a “neutral” rating for the company in a research report on Thursday, January 26th. Deutsche Bank Aktiengesellschaft cut their price objective on Wolfspeed from $90.00 to $80.00 in a research report on Wednesday, January 11th. Oppenheimer lowered their price target on Wolfspeed from $118.00 to $115.00 and set an “outperform” rating on the stock in a research note on Thursday, January 26th. JPMorgan Chase & Co. lowered their price target on Wolfspeed from $106.00 to $100.00 and set an “overweight” rating on the stock in a research note on Thursday, January 26th. Finally, Citigroup lowered their price target on Wolfspeed from $100.00 to $95.00 and set a “buy” rating on the stock in a research note on Friday, January 27th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $100.94.
Wolfspeed Stock Down 3.8 %
Wolfspeed (NYSE:WOLF – Get Rating) last released its quarterly earnings results on Wednesday, January 25th. The company reported ($0.28) EPS for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.03. The business had revenue of $216.10 million for the quarter, compared to analyst estimates of $225.62 million. Wolfspeed had a negative return on equity of 4.40% and a negative net margin of 18.90%. As a group, sell-side analysts forecast that Wolfspeed, Inc. will post -0.94 earnings per share for the current fiscal year.
Wolfspeed, Inc is an innovator of Wolfspeed power and radio frequency (RF) semiconductors. Its Wolfspeed product families include silicon carbide materials, power-switching devices and RF devices targeted for applications such as electric vehicles, fast charging inverters, power supplies, telecom and military and aerospace.
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