Maryland State Retirement & Pension System Has $329,000 Holdings in Wolfspeed, Inc. (NYSE:WOLF)

Maryland State Retirement & Pension System trimmed its holdings in shares of Wolfspeed, Inc. (NYSE:WOLF) by 5.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 49,388 shares of the company’s stock after selling 2,792 shares during the period. Maryland State Retirement & Pension System’s holdings in Wolfspeed were worth $329,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Thrivent Financial for Lutherans grew its holdings in Wolfspeed by 225.0% in the third quarter. Thrivent Financial for Lutherans now owns 98,832 shares of the company’s stock worth $959,000 after purchasing an additional 68,423 shares during the period. Intech Investment Management LLC boosted its position in shares of Wolfspeed by 13.8% during the 3rd quarter. Intech Investment Management LLC now owns 55,700 shares of the company’s stock worth $540,000 after purchasing an additional 6,757 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Wolfspeed by 2.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 871,191 shares of the company’s stock valued at $8,451,000 after buying an additional 21,143 shares during the period. Algert Global LLC increased its position in Wolfspeed by 173.6% in the 3rd quarter. Algert Global LLC now owns 145,216 shares of the company’s stock valued at $1,409,000 after buying an additional 92,140 shares in the last quarter. Finally, Qsemble Capital Management LP acquired a new position in Wolfspeed during the 3rd quarter worth approximately $802,000.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Bank of America reduced their price objective on Wolfspeed from $9.50 to $6.00 and set an “underperform” rating for the company in a research note on Thursday, January 30th. Susquehanna decreased their price target on shares of Wolfspeed from $11.00 to $7.00 and set a “neutral” rating for the company in a research note on Wednesday, January 22nd. Canaccord Genuity Group dropped their price objective on shares of Wolfspeed from $18.00 to $10.00 and set a “buy” rating on the stock in a research note on Thursday, January 30th. The Goldman Sachs Group decreased 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. Finally, Piper Sandler dropped their price target on shares of Wolfspeed from $18.00 to $10.00 and set an “overweight” rating on the stock in a research report on Thursday, January 30th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $14.86.

Wolfspeed Price Performance

Shares of NYSE:WOLF opened at $6.15 on Wednesday. The company has a market capitalization of $785.43 million, a P/E ratio of -0.80 and a beta of 1.50. The company’s 50-day moving average is $5.94 and its 200 day moving average is $8.19. The company has a debt-to-equity ratio of 17.26, a quick ratio of 2.47 and a current ratio of 3.15. Wolfspeed, Inc. has a fifty-two week low of $4.66 and a fifty-two week high of $30.86.

Wolfspeed (NYSE:WOLF) last released its earnings results on Wednesday, January 29th. The company reported ($1.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.90) by ($0.20). Wolfspeed had a negative net margin of 125.96% and a negative return on equity of 70.84%. On average, equities research analysts forecast that Wolfspeed, Inc. will post -4 earnings per share for the current year.

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.