Wolfspeed, Inc. (NYSE:WOLF) Shares Purchased by KBC Group NV

KBC Group NV increased its position in shares of Wolfspeed, Inc. (NYSE:WOLF) by 76.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,064 shares of the company’s stock after purchasing an additional 2,629 shares during the quarter. KBC Group NV’s holdings in Wolfspeed were worth $40,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of WOLF. Eastern Bank acquired a new stake in Wolfspeed in the 3rd quarter worth about $27,000. GAMMA Investing LLC raised its position in shares of Wolfspeed by 416.4% during the 3rd quarter. GAMMA Investing LLC now owns 4,544 shares of the company’s stock valued at $44,000 after acquiring an additional 3,664 shares in the last quarter. Arkadios Wealth Advisors acquired a new position in shares of Wolfspeed in the 4th quarter valued at about $67,000. Asset Management One Co. Ltd. boosted its position in Wolfspeed by 69.0% during the 3rd quarter. Asset Management One Co. Ltd. now owns 7,067 shares of the company’s stock valued at $69,000 after purchasing an additional 2,885 shares during the period. Finally, Ground Swell Capital LLC bought a new stake in Wolfspeed in the 3rd quarter valued at about $99,000.

Insiders Place Their Bets

In other Wolfspeed news, Director Darren R. Jackson purchased 36,975 shares of the stock in a transaction on Wednesday, November 20th. The shares were purchased at an average cost of $6.76 per share, for a total transaction of $249,951.00. Following the purchase, the director now owns 85,996 shares of the company’s stock, valued at approximately $581,332.96. This represents a 75.43 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Glenda Dorchak bought 3,592 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was bought at an average cost of $8.33 per share, for a total transaction of $29,921.36. Following the transaction, the director now owns 18,688 shares of the company’s stock, valued at $155,671.04. The trade was a 23.79 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 78,067 shares of company stock valued at $524,747. Company insiders own 0.84% of the company’s stock.

Wolfspeed Price Performance

NYSE:WOLF opened at $5.42 on Tuesday. The firm has a market cap of $691.55 million, a PE ratio of -0.71 and a beta of 1.43. Wolfspeed, Inc. has a 12 month low of $4.66 and a 12 month high of $30.87. The company’s 50-day moving average price is $6.98 and its two-hundred day moving average price is $9.76. The company has a quick ratio of 2.47, a current ratio of 3.15 and a debt-to-equity ratio of 17.26.

Wolfspeed (NYSE:WOLF) last announced its earnings results on Wednesday, January 29th. The company reported ($1.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.90) by ($0.20). Wolfspeed had a negative return on equity of 70.84% and a negative net margin of 125.96%. On average, equities analysts anticipate that Wolfspeed, Inc. will post -4.15 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on WOLF. Roth Mkm decreased their target price on shares of Wolfspeed from $25.00 to $20.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. JPMorgan Chase & Co. reduced their price objective on Wolfspeed from $20.00 to $17.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. Mizuho reduced their price objective on Wolfspeed from $10.00 to $6.00 and set an “underperform” rating for the company in a research report on Tuesday, November 19th. StockNews.com upgraded Wolfspeed to a “sell” rating in a report on Monday, January 6th. Finally, The Goldman Sachs Group cut their target price on shares of Wolfspeed from $17.00 to $15.00 and set a “buy” rating for the company in a research report on Thursday, January 30th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, Wolfspeed currently has a consensus rating of “Hold” and an average price target of $14.86.

Wolfspeed 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.