Wolfspeed, Inc. (NYSE:WOLF) Shares Purchased by Inspire Investing LLC

Inspire Investing LLC grew its position in Wolfspeed, Inc. (NYSE:WOLF) by 178.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 42,906 shares of the company’s stock after purchasing an additional 27,487 shares during the period. Inspire Investing LLC’s holdings in Wolfspeed were worth $416,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in WOLF. Wellington Management Group LLP grew its holdings in Wolfspeed by 43.8% in the 4th quarter. Wellington Management Group LLP now owns 359,129 shares of the company’s stock worth $15,626,000 after buying an additional 109,371 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Wolfspeed by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 12,629,335 shares of the company’s stock worth $549,502,000 after purchasing an additional 157,668 shares in the last quarter. CWM LLC increased its holdings in shares of Wolfspeed by 33.3% during the first quarter. CWM LLC now owns 89,808 shares of the company’s stock valued at $2,649,000 after purchasing an additional 22,450 shares during the period. Green Alpha Advisors LLC increased its holdings in shares of Wolfspeed by 2.6% during the first quarter. Green Alpha Advisors LLC now owns 26,142 shares of the company’s stock valued at $771,000 after purchasing an additional 662 shares during the period. Finally, Perpetual Ltd raised its stake in shares of Wolfspeed by 52.1% during the first quarter. Perpetual Ltd now owns 35,043 shares of the company’s stock valued at $1,002,000 after purchasing an additional 12,000 shares in the last quarter.

Analysts Set New Price Targets

WOLF has been the topic of several research analyst reports. Canaccord Genuity Group lowered their target price on shares of Wolfspeed from $45.00 to $25.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Bank of America lowered their price objective 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. Piper Sandler cut their target price on Wolfspeed from $35.00 to $20.00 and set an “overweight” rating for the company in a research report on Thursday, August 22nd. New Street Research lowered Wolfspeed from a “buy” rating to a “neutral” rating and set a $18.00 price target for the company. in a research note on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on Wolfspeed from $17.00 to $14.00 and set a “hold” rating on the stock in a research note on Thursday, August 22nd. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, Wolfspeed has an average rating of “Hold” and a consensus price target of $22.43.

Wolfspeed Trading Up 21.1 %

NYSE:WOLF opened at $13.78 on Wednesday. The stock has a fifty day simple moving average of $10.31 and a 200 day simple moving average of $19.50. The firm has a market capitalization of $1.73 billion, a price-to-earnings ratio of -2.13 and a beta of 1.52. Wolfspeed, Inc. has a 1-year low of $7.28 and a 1-year high of $47.43. The company has a quick ratio of 3.85, a current ratio of 4.51 and a debt-to-equity ratio of 6.99.

Wolfspeed (NYSE:WOLF) last announced its earnings results on Wednesday, August 21st. The company reported ($1.06) EPS for the quarter, missing the consensus estimate 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 analyst estimates of $201.11 million. Sell-side analysts forecast that Wolfspeed, Inc. will post -3.84 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.