Capital Markets Trading UK LLP Has $474,000 Stake in Wolfspeed, Inc. $WOLF

Capital Markets Trading UK LLP trimmed its stake in Wolfspeed, Inc. (NYSE:WOLF) by 91.7% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 16,557 shares of the company’s stock after selling 183,943 shares during the period. Capital Markets Trading UK LLP’s holdings in Wolfspeed were worth $474,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Wolfspeed during the second quarter valued at approximately $34,000. Canada Pension Plan Investment Board bought a new stake in shares of Wolfspeed during the 2nd quarter worth $34,000. Marex Group plc acquired a new position in Wolfspeed in the 2nd quarter valued at $44,000. Panagora Asset Management Inc. grew its stake in Wolfspeed by 709.4% in the 2nd quarter. Panagora Asset Management Inc. now owns 113,800 shares of the company’s stock valued at $45,000 after buying an additional 99,740 shares during the last quarter. Finally, WINTON GROUP Ltd bought a new position in Wolfspeed in the 2nd quarter worth $47,000.

Wolfspeed Trading Down 7.6%

Shares of WOLF stock opened at $19.03 on Friday. The stock has a 50 day moving average of $18.44 and a two-hundred day moving average of $17.08. Wolfspeed, Inc. has a 12 month low of $8.05 and a 12 month high of $36.60. The company has a market capitalization of $858.04 million and a P/E ratio of -2.70.

Wolfspeed (NYSE:WOLF) last released its quarterly earnings data on Wednesday, February 4th. The company reported ($6.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.74) by ($5.37). The firm had revenue of $168.50 million during the quarter, compared to analyst estimates of $170.00 million. The company’s revenue for the quarter was down 6.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.95) EPS. Sell-side analysts predict that Wolfspeed, Inc. will post -4 earnings per share for the current fiscal year.

Analysts Set New Price Targets

WOLF has been the subject of a number of recent analyst reports. Susquehanna decreased their price target on shares of Wolfspeed from $30.00 to $20.00 and set a “neutral” rating for the company in a report on Thursday, January 22nd. Wall Street Zen downgraded Wolfspeed from a “hold” rating to a “sell” rating in a research note on Saturday, February 7th. Zacks Research raised Wolfspeed to a “hold” rating in a report on Monday, February 9th. Piper Sandler reaffirmed an “overweight” rating and issued a $20.00 price target (up from $6.00) on shares of Wolfspeed in a research report on Thursday, February 5th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Wolfspeed in a research note on Monday, December 29th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, Wolfspeed has an average rating of “Reduce” and an average price target of $12.75.

Wolfspeed Profile

Wolfspeed, Inc (NYSE: WOLF) is a leading developer and manufacturer of silicon carbide (SiC) and gallium nitride (GaN) semiconductor materials and devices. The company’s product portfolio addresses high-growth markets such as electric vehicles, renewable energy, fast-charging infrastructure, aerospace and defense, and telecommunications. By leveraging proprietary materials and device designs, Wolfspeed delivers solutions that offer improved energy efficiency, higher power density and greater thermal performance compared to conventional silicon-based semiconductors.

Founded as part of Cree, Inc and spun off to form an independent public company in October 2021, Wolfspeed traces its roots to the mid-1980s when it pioneered the commercial use of wide-bandgap semiconductor technology.