Wolfspeed, Inc. (NYSE:WOLF) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lessened its holdings in shares of Wolfspeed, Inc. (NYSE:WOLF) by 4.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 77,425 shares of the company’s stock after selling 3,482 shares during the quarter. Mutual of America Capital Management LLC owned 0.06% of Wolfspeed worth $3,369,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Independence Bank of Kentucky grew its position in Wolfspeed by 97.0% in the fourth quarter. Independence Bank of Kentucky now owns 711 shares of the company’s stock valued at $31,000 after acquiring an additional 350 shares in the last quarter. First Manhattan CO. LLC. acquired a new stake in Wolfspeed in the first quarter valued at approximately $39,000. Penserra Capital Management LLC acquired a new stake in Wolfspeed in the fourth quarter valued at approximately $43,000. Aspire Private Capital LLC acquired a new stake in Wolfspeed in the third quarter valued at approximately $76,000. Finally, IFP Advisors Inc grew its position in Wolfspeed by 213.7% in the second quarter. IFP Advisors Inc now owns 1,468 shares of the company’s stock valued at $82,000 after acquiring an additional 1,000 shares in the last quarter.

Wolfspeed Stock Performance

Shares of WOLF opened at $25.24 on Thursday. The business’s fifty day moving average price is $27.16 and its 200 day moving average price is $32.79. 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 $3.18 billion, a PE ratio of -4.15 and a beta of 1.66. 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:WOLF) last posted its earnings results on Wednesday, January 31st. The company reported ($0.69) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.79) by $0.10. The company had revenue of $208.40 million for the quarter, compared to analysts’ expectations of $205.94 million. Wolfspeed had a negative return on equity of 19.35% and a negative net margin of 87.35%. Equities research analysts forecast that Wolfspeed, Inc. will post -3.05 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on WOLF shares. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $30.00 price objective (down previously from $55.00) on shares of Wolfspeed in a research report on Wednesday, April 3rd. Mizuho began coverage on shares of Wolfspeed in a research report on Friday, April 5th. They set a “neutral” rating and a $30.00 price target for the company. Piper Sandler decreased their price target on shares of Wolfspeed from $55.00 to $45.00 and set an “overweight” rating for the company in a research report on Thursday, February 1st. JPMorgan Chase & Co. decreased their price target on shares of Wolfspeed from $43.00 to $35.00 and set a “neutral” rating for the company in a research report on Thursday, April 11th. Finally, Susquehanna reissued a “neutral” rating and set a $35.00 price target on shares of Wolfspeed in a research report on Monday, April 8th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $43.63.

Insider Buying and Selling at Wolfspeed

In related news, Director Darren R. Jackson bought 10,000 shares of the business’s 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 completion of the purchase, the director now owns 49,021 shares of the company’s stock, valued at approximately $1,264,741.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.85% of the stock is currently owned by company insiders.

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.