Inspire Investing LLC Increases Stock Position in Wolfspeed, Inc. (NYSE:WOLF)

Inspire Investing LLC boosted its stake in Wolfspeed, Inc. (NYSE:WOLF) by 26.5% during the second quarter, HoldingsChannel reports. The firm owned 15,419 shares of the company’s stock after buying an additional 3,230 shares during the period. Inspire Investing LLC’s holdings in Wolfspeed were worth $351,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Lazard Asset Management LLC raised its stake in Wolfspeed by 292,375.0% in the first quarter. Lazard Asset Management LLC now owns 70,194 shares of the company’s stock valued at $2,070,000 after purchasing an additional 70,170 shares in the last quarter. Vanguard Group Inc. raised its stake in Wolfspeed by 3.6% in the first quarter. Vanguard Group Inc. now owns 13,079,067 shares of the company’s stock valued at $385,832,000 after purchasing an additional 449,732 shares in the last quarter. Boston Partners purchased a new stake in Wolfspeed in the first quarter valued at approximately $1,621,000. Artisan Partners Limited Partnership raised its stake in Wolfspeed by 15.5% in the fourth quarter. Artisan Partners Limited Partnership now owns 2,626,081 shares of the company’s stock valued at $114,261,000 after purchasing an additional 352,609 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. purchased a new stake in Wolfspeed in the first quarter valued at approximately $245,000.

Analysts Set New Price Targets

WOLF has been the topic of several research reports. Piper Sandler decreased their price target on shares of Wolfspeed from $35.00 to $20.00 and set an “overweight” rating on the stock in a research note on Thursday, August 22nd. Mizuho decreased their price target on shares of Wolfspeed from $28.00 to $17.00 and set a “neutral” rating on the stock in a research note on Thursday, August 22nd. Morgan Stanley decreased their price target on shares of Wolfspeed from $23.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 15th. Bank of America decreased their price target on shares of Wolfspeed from $25.00 to $15.00 and set an “underperform” rating on the stock in a research note on Friday, August 23rd. Finally, Oppenheimer reissued a “market perform” rating on shares of Wolfspeed in a research note on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Wolfspeed currently has a consensus rating of “Hold” and an average target price of $24.53.

Wolfspeed Stock Up 0.2 %

Shares of Wolfspeed stock opened at $8.12 on Tuesday. The company has a debt-to-equity ratio of 6.99, a quick ratio of 3.85 and a current ratio of 4.51. Wolfspeed, Inc. has a 52-week low of $7.28 and a 52-week high of $47.43. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of -1.26 and a beta of 1.52. The company’s 50 day moving average price is $13.34 and its 200-day moving average price is $21.49.

Wolfspeed (NYSE:WOLF) last released its quarterly 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 company had revenue of $200.70 million during the quarter, compared to the consensus estimate of $201.11 million. Wolfspeed had a negative net margin of 107.93% and a negative return on equity of 37.76%. Equities research analysts forecast that Wolfspeed, Inc. will post -3.84 EPS for the current year.

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.