Wolfspeed, Inc. (NYSE:WOLF) Shares Bought by GSA Capital Partners LLP

GSA Capital Partners LLP grew its holdings in shares of Wolfspeed, Inc. (NYSE:WOLF) by 230.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 58,986 shares of the company’s stock after purchasing an additional 41,114 shares during the period. GSA Capital Partners LLP’s holdings in Wolfspeed were worth $572,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mather Group LLC. grew its holdings in shares of Wolfspeed by 385.5% in the 2nd quarter. Mather Group LLC. now owns 1,175 shares of the company’s stock worth $27,000 after acquiring an additional 933 shares during the period. Advisors Asset Management Inc. grew its holdings in shares of Wolfspeed by 64.8% in the 1st quarter. Advisors Asset Management Inc. now owns 1,757 shares of the company’s stock worth $52,000 after acquiring an additional 691 shares during the period. Signaturefd LLC grew its holdings in shares of Wolfspeed by 284.3% in the 2nd quarter. Signaturefd LLC now owns 2,087 shares of the company’s stock worth $48,000 after acquiring an additional 1,544 shares during the period. Eastern Bank acquired a new stake in shares of Wolfspeed in the 3rd quarter worth approximately $27,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Wolfspeed during the 2nd quarter valued at $75,000.

Wolfspeed Trading Down 8.2 %

Shares of WOLF opened at $6.45 on Wednesday. The company has a current ratio of 3.14, a quick ratio of 2.54 and a debt-to-equity ratio of 9.82. The firm has a market capitalization of $823.11 million, a P/E ratio of -1.08 and a beta of 1.46. The stock’s fifty day simple moving average is $10.77 and its 200 day simple moving average is $17.09. Wolfspeed, Inc. has a twelve month low of $6.34 and a twelve month high of $47.43.

Wolfspeed (NYSE:WOLF) last issued its earnings results on Wednesday, August 21st. The company reported ($1.06) earnings per share for the quarter, missing the consensus estimate of ($1.03) by ($0.03). The firm had revenue of $200.70 million during the quarter, compared to analysts’ expectations of $201.11 million. Wolfspeed had a negative return on equity of 49.86% and a negative net margin of 93.31%. On average, equities research analysts forecast that Wolfspeed, Inc. will post -4.13 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have commented on WOLF. Mizuho lowered their target price on Wolfspeed from $10.00 to $6.00 and set an “underperform” rating on the stock in a report on Tuesday. Susquehanna lowered their target price on Wolfspeed from $16.00 to $11.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. Bank of America lowered their target price on Wolfspeed from $25.00 to $15.00 and set an “underperform” rating on the stock in a report on Friday, August 23rd. Morgan Stanley increased their target price on Wolfspeed from $10.00 to $15.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Finally, TD Cowen lowered their target price on Wolfspeed from $25.00 to $15.00 and set a “hold” rating on the stock in a report on Thursday, August 22nd. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $17.21.

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.