GAMMA Investing LLC Takes Position in Wolfspeed, Inc. (NYSE:WOLF)

GAMMA Investing LLC bought a new position in shares of Wolfspeed, Inc. (NYSE:WOLF) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 1,287 shares of the company’s stock, valued at approximately $56,000.

A number of other hedge funds have also recently bought and sold shares of the stock. Independence Bank of Kentucky lifted its stake in Wolfspeed by 97.0% in the 4th quarter. Independence Bank of Kentucky now owns 711 shares of the company’s stock valued at $31,000 after purchasing an additional 350 shares during the last quarter. Rakuten Securities Inc. bought a new position in shares of Wolfspeed during the 4th quarter worth approximately $48,000. Aspire Private Capital LLC bought a new position in shares of Wolfspeed during the 3rd quarter worth approximately $76,000. Migdal Insurance & Financial Holdings Ltd. increased its holdings in shares of Wolfspeed by 26.9% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,205 shares of the company’s stock worth $83,000 after acquiring an additional 468 shares during the last quarter. Finally, Banque Cantonale Vaudoise bought a new stake in Wolfspeed in the 3rd quarter valued at $126,000.

Wolfspeed Trading Down 3.4 %

Shares of WOLF stock opened at $26.10 on Thursday. Wolfspeed, Inc. has a fifty-two week low of $21.85 and a fifty-two week high of $70.42. The stock’s fifty day moving average price is $26.60 and its two-hundred day moving average price is $32.22. The company has a debt-to-equity ratio of 4.50, a quick ratio of 4.58 and a current ratio of 5.13. The company has a market cap of $3.28 billion, a PE ratio of -4.29 and a beta of 1.66.

Wolfspeed (NYSE:WOLF) last released its quarterly earnings data on Wednesday, January 31st. The company reported ($0.69) earnings per share for the quarter, beating the consensus estimate 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%. Equities analysts predict that Wolfspeed, Inc. will post -3.05 EPS for the current fiscal year.

Insider Transactions at Wolfspeed

In related news, Director Darren R. Jackson purchased 10,000 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were bought at an average cost of $25.80 per share, with a total value of $258,000.00. Following the acquisition, 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.85% of the company’s stock.

Analysts Set New Price Targets

WOLF has been the topic of several research reports. Wells Fargo & Company reiterated an “equal weight” rating and issued a $30.00 price objective (down from $55.00) on shares of Wolfspeed in a report on Wednesday, April 3rd. Susquehanna reduced their price objective on Wolfspeed from $35.00 to $25.00 and set a “neutral” rating for the company in a report on Tuesday, April 23rd. Mizuho assumed coverage on Wolfspeed in a research note on Friday, April 5th. They set a “neutral” rating and a $30.00 target price on the stock. Roth Mkm restated a “buy” rating and issued a $50.00 price target on shares of Wolfspeed in a research note on Tuesday. Finally, 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 report on Thursday, April 11th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Wolfspeed currently has an average rating of “Hold” and an average target price of $41.00.

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.