Capital International Sarl Has $1.85 Million Stake in Wolfspeed, Inc. (NYSE:WOLF)

Capital International Sarl decreased its stake in shares of Wolfspeed, Inc. (NYSE:WOLF) by 2.7% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 62,724 shares of the company’s stock after selling 1,752 shares during the period. Capital International Sarl’s holdings in Wolfspeed were worth $1,850,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Victory Capital Management Inc. grew its holdings in Wolfspeed by 17.7% in the 4th quarter. Victory Capital Management Inc. now owns 26,973 shares of the company’s stock valued at $1,174,000 after buying an additional 4,052 shares during the last quarter. Artisan Partners Limited Partnership grew its holdings in Wolfspeed by 15.5% in the 4th quarter. Artisan Partners Limited Partnership now owns 2,626,081 shares of the company’s stock valued at $114,261,000 after buying an additional 352,609 shares during the last quarter. Vanguard Group Inc. grew its holdings in Wolfspeed by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 12,629,335 shares of the company’s stock valued at $549,502,000 after buying an additional 157,668 shares during the last quarter. Trillium Asset Management LLC grew its holdings in Wolfspeed by 7.7% in the 4th quarter. Trillium Asset Management LLC now owns 421,473 shares of the company’s stock valued at $18,338,000 after buying an additional 29,990 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in Wolfspeed in the 1st quarter valued at approximately $1,511,000.

Wall Street Analyst Weigh In

A number of research firms have issued reports on WOLF. Morgan Stanley lowered their target price on Wolfspeed from $26.00 to $23.00 and set an “equal weight” rating on the stock in a report on Tuesday, June 25th. Roth Mkm reissued a “buy” rating and set a $50.00 price objective on shares of Wolfspeed in a report on Tuesday, April 30th. Susquehanna decreased their price objective on Wolfspeed from $25.00 to $23.00 and set a “neutral” rating on the stock in a report on Thursday, May 2nd. Deutsche Bank Aktiengesellschaft decreased their price objective on Wolfspeed from $30.00 to $25.00 and set a “hold” rating on the stock in a report on Tuesday, May 7th. Finally, Canaccord Genuity Group decreased their price objective on Wolfspeed from $47.00 to $45.00 and set a “buy” rating on the stock in a report on Tuesday, June 25th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $35.43.

Insider Transactions at Wolfspeed

In other news, Director Marvin Riley bought 1,866 shares of the company’s stock in a transaction dated Tuesday, May 28th. The stock was bought at an average price of $27.05 per share, for a total transaction of $50,475.30. Following the completion of the transaction, the director now directly owns 13,297 shares in the company, valued at approximately $359,683.85. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.62% of the stock is currently owned by corporate insiders.

Wolfspeed Price Performance

Wolfspeed stock traded up $0.90 on Friday, reaching $19.24. The company’s stock had a trading volume of 3,626,487 shares, compared to its average volume of 4,257,639. The company has a debt-to-equity ratio of 5.55, a quick ratio of 4.00 and a current ratio of 4.58. The company has a market cap of $2.42 billion, a price-to-earnings ratio of -2.98 and a beta of 1.60. The business’s fifty day moving average price is $24.77 and its 200 day moving average price is $26.81. Wolfspeed, Inc. has a twelve month low of $18.10 and a twelve month high of $66.22.

Wolfspeed (NYSE:WOLF) last posted its quarterly earnings data on Wednesday, May 1st. The company reported ($0.79) EPS for the quarter, topping analysts’ consensus estimates of ($0.82) by $0.03. The company had revenue of $200.70 million for the quarter, compared to analyst estimates of $201.49 million. Wolfspeed had a negative return on equity of 27.37% and a negative net margin of 96.12%. Equities analysts expect that Wolfspeed, Inc. will post -3.21 earnings per share for the current fiscal year.

About Wolfspeed

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.