Natixis Buys Shares of 29,659 Wolfspeed, Inc. (NYSE:WOLF)

Natixis bought a new stake in Wolfspeed, Inc. (NYSE:WOLF) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 29,659 shares of the company’s stock, valued at approximately $875,000.

A number of other large investors also recently bought and sold shares of the stock. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Wolfspeed by 14.8% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 133,395 shares of the company’s stock worth $3,935,000 after purchasing an additional 17,154 shares in the last quarter. Aequim Alternative Investments LP lifted its position in shares of Wolfspeed by 14.7% during the first quarter. Aequim Alternative Investments LP now owns 163,800 shares of the company’s stock worth $4,832,000 after purchasing an additional 21,000 shares in the last quarter. Seven Eight Capital LP lifted its position in shares of Wolfspeed by 0.5% during the first quarter. Seven Eight Capital LP now owns 125,954 shares of the company’s stock worth $3,716,000 after purchasing an additional 675 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Wolfspeed by 3.6% during the first quarter. Vanguard Group Inc. now owns 13,079,067 shares of the company’s stock worth $385,832,000 after purchasing an additional 449,732 shares in the last quarter. Finally, SageView Advisory Group LLC acquired a new stake in shares of Wolfspeed during the first quarter worth about $175,000.

Wolfspeed Stock Up 2.2 %

Wolfspeed stock traded up $0.40 during mid-day trading on Friday, hitting $18.74. The company had a trading volume of 282,469 shares, compared to its average volume of 4,234,256. The stock has a market cap of $2.36 billion, a price-to-earnings ratio of -2.84 and a beta of 1.60. Wolfspeed, Inc. has a 1 year low of $18.10 and a 1 year high of $66.22. The company has a quick ratio of 4.00, a current ratio of 4.58 and a debt-to-equity ratio of 5.55. The business has a fifty day moving average of $24.89 and a 200 day moving average of $26.96.

Wolfspeed (NYSE:WOLF) last announced its quarterly earnings results on Wednesday, May 1st. The company reported ($0.79) EPS for the quarter, beating the consensus estimate 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 net margin of 96.12% and a negative return on equity of 27.37%. On average, sell-side analysts expect that Wolfspeed, Inc. will post -3.21 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on WOLF shares. Citigroup reduced their price target on shares of Wolfspeed from $29.00 to $25.00 and set a “neutral” rating on the stock in a research report on Thursday, May 2nd. JPMorgan Chase & Co. reduced their target price on shares of Wolfspeed from $43.00 to $35.00 and set a “neutral” rating on the stock in a report on Thursday, April 11th. William Blair cut shares of Wolfspeed from an “outperform” rating to a “market perform” rating in a report on Thursday, May 2nd. TD Cowen cut shares of Wolfspeed from a “buy” rating to a “hold” rating and reduced their target price for the company from $40.00 to $25.00 in a report on Thursday, May 2nd. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of Wolfspeed in a report on Tuesday, July 9th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $35.43.

Insider Transactions at Wolfspeed

In other Wolfspeed news, Director Marvin Riley bought 1,866 shares of the stock in a transaction dated Tuesday, May 28th. The shares were acquired at an average cost of $27.05 per share, for a total transaction of $50,475.30. Following the completion of the transaction, the director now owns 13,297 shares in the company, valued at approximately $359,683.85. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.62% of the company’s stock.

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.