Cwm LLC Has $2.93 Million Stock Holdings in Wolfspeed, Inc. (NYSE:WOLF)

Cwm LLC increased its holdings in shares of Wolfspeed, Inc. (NYSE:WOLF) by 19.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 67,358 shares of the company’s stock after purchasing an additional 10,781 shares during the period. Cwm LLC owned approximately 0.05% of Wolfspeed worth $2,931,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in WOLF. Slow Capital Inc. raised its holdings in Wolfspeed by 5.9% in the 3rd quarter. Slow Capital Inc. now owns 43,220 shares of the company’s stock valued at $1,647,000 after acquiring an additional 2,419 shares in the last quarter. Hardman Johnston Global Advisors LLC raised its holdings in Wolfspeed by 0.9% in the 3rd quarter. Hardman Johnston Global Advisors LLC now owns 633,813 shares of the company’s stock valued at $24,148,000 after acquiring an additional 5,760 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in Wolfspeed by 27.0% in the 3rd quarter. Commonwealth Equity Services LLC now owns 39,392 shares of the company’s stock valued at $1,501,000 after acquiring an additional 8,374 shares in the last quarter. Raymond James & Associates raised its holdings in Wolfspeed by 1.6% in the 3rd quarter. Raymond James & Associates now owns 181,867 shares of the company’s stock valued at $6,929,000 after acquiring an additional 2,943 shares in the last quarter. Finally, Weybosset Research & Management LLC raised its holdings in Wolfspeed by 5.7% in the 3rd quarter. Weybosset Research & Management LLC now owns 13,959 shares of the company’s stock valued at $532,000 after acquiring an additional 748 shares in the last quarter.

Analyst Upgrades and Downgrades

Several research firms have commented on WOLF. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $30.00 price target (down previously from $55.00) on shares of Wolfspeed in a report on Wednesday, April 3rd. JPMorgan Chase & Co. lowered their price objective on Wolfspeed from $43.00 to $35.00 and set a “neutral” rating on the stock in a research note on Thursday, April 11th. Mizuho initiated coverage on Wolfspeed in a research note on Friday, April 5th. They issued a “neutral” rating and a $30.00 price objective on the stock. Piper Sandler lowered their price objective on Wolfspeed from $55.00 to $45.00 and set an “overweight” rating on the stock in a research note on Thursday, February 1st. Finally, Susquehanna lowered their price objective on Wolfspeed from $35.00 to $25.00 and set a “neutral” rating on the stock in a research note on Tuesday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $41.88.

Wolfspeed Stock Up 8.4 %

NYSE WOLF opened at $24.47 on Thursday. The firm has a market cap of $3.08 billion, a PE ratio of -4.02 and a beta of 1.66. Wolfspeed, Inc. has a one year low of $21.85 and a one year high of $70.42. The stock’s 50 day simple moving average is $26.71 and its 200 day simple moving average is $32.45. 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 released its quarterly earnings results on Wednesday, January 31st. The company reported ($0.69) EPS for the quarter, topping analysts’ consensus estimates of ($0.79) by $0.10. The business had revenue of $208.40 million for the quarter, compared to analyst estimates of $205.94 million. Wolfspeed had a negative return on equity of 19.35% and a negative net margin of 87.35%. As a group, sell-side analysts forecast that Wolfspeed, Inc. will post -3.05 earnings per share for the current fiscal year.

Insider Buying and Selling at Wolfspeed

In other news, Director Darren R. Jackson acquired 10,000 shares of the firm’s stock in a transaction on Friday, February 2nd. The shares were purchased at an average cost of $25.80 per share, for a total transaction of $258,000.00. Following the transaction, the director now owns 49,021 shares of the company’s stock, valued at $1,264,741.80. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.85% of the company’s stock.

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.