Ratan Capital Management LP Invests $2.47 Million in Wolfspeed, Inc. $WOLF

Ratan Capital Management LP acquired a new position in shares of Wolfspeed, Inc. (NYSE:WOLF) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 51,128 shares of the company’s stock, valued at approximately $2,467,000. Wolfspeed makes up approximately 0.8% of Ratan Capital Management LP’s portfolio, making the stock its 24th largest holding. Ratan Capital Management LP owned about 0.10% of Wolfspeed as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of WOLF. Panview Capital Ltd purchased a new position in Wolfspeed in the second quarter valued at about $6,952,000. Renesas Electronics America Inc. purchased a new stake in shares of Wolfspeed during the 2nd quarter worth about $813,126,949. Atlas Brown Inc. lifted its holdings in shares of Wolfspeed by 29.2% during the 2nd quarter. Atlas Brown Inc. now owns 32,300 shares of the company’s stock valued at $1,558,000 after buying an additional 7,300 shares during the last quarter. Next Level Private LLC acquired a new stake in shares of Wolfspeed during the 2nd quarter valued at about $434,000. Finally, FNY Investment Advisers LLC bought a new stake in shares of Wolfspeed in the 2nd quarter valued at approximately $204,000.

Wolfspeed Stock Performance

Shares of NYSE WOLF opened at $25.95 on Friday. The business’s 50-day simple moving average is $32.55 and its 200-day simple moving average is $33.06. Wolfspeed, Inc. has a 52 week low of $8.05 and a 52 week high of $80.82. The firm has a market cap of $1.38 billion and a price-to-earnings ratio of -1.65.

Wolfspeed (NYSE:WOLF) last posted its earnings results on Wednesday, August 19th. The company reported ($2.26) earnings per share for the quarter, topping the consensus estimate of ($2.45) by $0.19. The company had revenue of $149.60 million during the quarter, compared to analyst estimates of $150.00 million. During the same quarter last year, the firm posted ($0.77) earnings per share. The firm’s revenue for the quarter was down 24.1% compared to the same quarter last year.

Wall Street Analyst Weigh In

WOLF has been the topic of several recent research reports. Wall Street Zen raised shares of Wolfspeed from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 22nd. Susquehanna decreased their target price on shares of Wolfspeed from $40.00 to $30.00 and set a “neutral” rating for the company in a research report on Tuesday, July 21st. Weiss Ratings upgraded shares of Wolfspeed from a “sell (d-)” rating to a “sell (d)” rating in a research note on Monday. Finally, TD Cowen reaffirmed a “hold” rating and issued a $25.00 price objective on shares of Wolfspeed in a research note on Thursday, August 20th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $25.00.

Wolfspeed Company 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.