Commonwealth Equity Services LLC Reduces Holdings in Wolfspeed, Inc. (NYSE:WOLF)

Commonwealth Equity Services LLC lessened its position in shares of Wolfspeed, Inc. (NYSE:WOLF) by 65.4% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 12,283 shares of the company’s stock after selling 23,251 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Wolfspeed were worth $280,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in WOLF. TFO Wealth Partners LLC increased its stake in Wolfspeed by 57,400.0% during the fourth quarter. TFO Wealth Partners LLC now owns 575 shares of the company’s stock worth $25,000 after acquiring an additional 574 shares during the last quarter. Mather Group LLC. increased its position in shares of Wolfspeed by 385.5% during the 2nd quarter. Mather Group LLC. now owns 1,175 shares of the company’s stock worth $27,000 after purchasing an additional 933 shares during the last quarter. Signaturefd LLC raised its holdings in Wolfspeed by 284.3% in the 2nd quarter. Signaturefd LLC now owns 2,087 shares of the company’s stock valued at $48,000 after buying an additional 1,544 shares during the period. Advisors Asset Management Inc. lifted its position in Wolfspeed by 64.8% in the first quarter. Advisors Asset Management Inc. now owns 1,757 shares of the company’s stock valued at $52,000 after buying an additional 691 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new position in Wolfspeed during the second quarter worth about $75,000.

Wolfspeed Stock Performance

Shares of WOLF opened at $8.20 on Wednesday. Wolfspeed, Inc. has a 1 year low of $7.28 and a 1 year high of $47.43. The stock has a market capitalization of $1.03 billion, a PE ratio of -1.27 and a beta of 1.52. The company has a debt-to-equity ratio of 6.99, a quick ratio of 3.85 and a current ratio of 4.51. The stock has a 50-day simple moving average of $13.01 and a 200-day simple moving average of $21.35.

Wolfspeed (NYSE:WOLF) last issued its quarterly earnings results on Wednesday, August 21st. The company reported ($1.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.03) by ($0.03). Wolfspeed had a negative return on equity of 37.76% and a negative net margin of 107.93%. The firm had revenue of $200.70 million during the quarter, compared to analysts’ expectations of $201.11 million. On average, analysts predict that Wolfspeed, Inc. will post -3.84 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on WOLF shares. New Street Research downgraded shares of Wolfspeed from a “buy” rating to a “neutral” rating and set a $18.00 price target on the stock. in a research note on Wednesday, August 7th. Bank of America cut their target price on Wolfspeed from $25.00 to $15.00 and set an “underperform” rating on the stock in a research report on Friday, August 23rd. Deutsche Bank Aktiengesellschaft decreased their price target on Wolfspeed from $17.00 to $14.00 and set a “hold” rating on the stock in a research note on Thursday, August 22nd. Mizuho dropped their price objective on Wolfspeed from $28.00 to $17.00 and set a “neutral” rating for the company in a research note on Thursday, August 22nd. Finally, Canaccord Genuity Group decreased their target price on Wolfspeed from $45.00 to $25.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Wolfspeed has an average rating of “Hold” and a consensus price target of $24.53.

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.