Handelsinvest Investeringsforvaltning Makes New Investment in Wolfspeed, Inc. (NYSE:WOLF)

Handelsinvest Investeringsforvaltning bought a new position in Wolfspeed, Inc. (NYSE:WOLFFree Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 6,170 shares of the company’s stock, valued at approximately $268,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Green Alpha Advisors LLC increased its stake in Wolfspeed by 3.6% during the fourth quarter. Green Alpha Advisors LLC now owns 25,480 shares of the company’s stock worth $1,109,000 after acquiring an additional 897 shares during the last quarter. Vanguard Group Inc. lifted its stake in Wolfspeed by 1.5% during the third quarter. Vanguard Group Inc. now owns 12,471,667 shares of the company’s stock worth $475,171,000 after purchasing an additional 188,236 shares in the last quarter. Teachers Retirement System of The State of Kentucky grew its stake in shares of Wolfspeed by 7.4% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 148,850 shares of the company’s stock valued at $5,672,000 after buying an additional 10,306 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its holdings in shares of Wolfspeed by 40.1% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 8,305 shares of the company’s stock valued at $316,000 after buying an additional 2,377 shares during the period. Finally, Banque Pictet & Cie SA purchased a new position in Wolfspeed during the 3rd quarter valued at about $494,000.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on WOLF shares. Piper Sandler dropped their price objective on shares of Wolfspeed from $55.00 to $45.00 and set an “overweight” rating for the company in a report on Thursday, February 1st. JPMorgan Chase & Co. decreased their price objective on Wolfspeed from $44.00 to $43.00 and set a “neutral” rating for the company in a research note on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $46.40.

Check Out Our Latest Stock Report on WOLF

Wolfspeed Stock Performance

Shares of Wolfspeed stock opened at $28.00 on Friday. The firm’s fifty day simple moving average is $28.88 and its 200-day simple moving average is $34.69. Wolfspeed, Inc. has a 12 month low of $23.54 and a 12 month high of $70.42. The stock has a market capitalization of $3.52 billion, a price-to-earnings ratio of -4.61 and a beta of 1.65. The company has a debt-to-equity ratio of 4.50, a current ratio of 5.13 and a quick ratio of 4.58.

Wolfspeed (NYSE:WOLFGet Free Report) last announced its earnings results on Wednesday, January 31st. The company reported ($0.69) EPS for the quarter, beating analysts’ consensus estimates of ($0.79) by $0.10. Wolfspeed had a negative net margin of 87.35% and a negative return on equity of 19.35%. The business had revenue of $208.40 million during the quarter, compared to analysts’ expectations of $205.94 million. As a group, equities analysts forecast that Wolfspeed, Inc. will post -3.05 earnings per share for the current year.

Insider Buying and Selling at Wolfspeed

In related news, Director Darren R. Jackson bought 10,000 shares of the stock in a transaction on Friday, February 2nd. The shares were bought at an average cost of $25.80 per share, for a total transaction of $258,000.00. Following the purchase, the director now owns 49,021 shares of the company’s stock, valued at approximately $1,264,741.80. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.62% of the stock is owned by company insiders.

Wolfspeed Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Wolfspeed (NYSE:WOLF)

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