Wolfspeed, Inc. (NYSE:WOLF) Shares Sold by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale cut its holdings in Wolfspeed, Inc. (NYSE:WOLF) by 21.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 72,690 shares of the company’s stock after selling 20,209 shares during the quarter. DekaBank Deutsche Girozentrale owned about 0.06% of Wolfspeed worth $722,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Mather Group LLC. increased its stake in Wolfspeed by 385.5% in the second quarter. Mather Group LLC. now owns 1,175 shares of the company’s stock valued at $27,000 after purchasing an additional 933 shares during the period. Eastern Bank acquired a new position in shares of Wolfspeed during the third quarter worth about $27,000. GAMMA Investing LLC increased its stake in shares of Wolfspeed by 416.4% during the third quarter. GAMMA Investing LLC now owns 4,544 shares of the company’s stock worth $44,000 after acquiring an additional 3,664 shares during the period. Signaturefd LLC increased its stake in shares of Wolfspeed by 284.3% during the second 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. Finally, Advisors Asset Management Inc. increased its stake in shares of Wolfspeed by 64.8% during the first 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.

Wolfspeed Stock Up 0.3 %

Shares of NYSE WOLF opened at $13.35 on Friday. Wolfspeed, Inc. has a 12-month low of $7.28 and a 12-month high of $47.43. The company has a market capitalization of $1.69 billion, a PE ratio of -1.92 and a beta of 1.52. The company has a debt-to-equity ratio of 6.99, a current ratio of 4.51 and a quick ratio of 3.85. The firm’s 50-day moving average is $10.89 and its two-hundred day moving average is $18.50.

Wolfspeed (NYSE:WOLF) last announced its quarterly earnings results on Wednesday, August 21st. The company reported ($1.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.03) by ($0.03). Wolfspeed had a negative net margin of 107.93% and a negative return on equity of 37.76%. The business had revenue of $200.70 million during the quarter, compared to analysts’ expectations of $201.11 million. Equities analysts anticipate that Wolfspeed, Inc. will post -4.07 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Mizuho lowered shares of Wolfspeed from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $17.00 to $8.00 in a research note on Thursday, October 3rd. TD Cowen dropped their price target on shares of Wolfspeed from $25.00 to $15.00 and set a “hold” rating on the stock in a research note on Thursday, August 22nd. Bank of America dropped 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. The Goldman Sachs Group dropped their price target on shares of Wolfspeed from $48.00 to $28.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Finally, Susquehanna dropped their price target on shares of Wolfspeed from $23.00 to $16.00 and set a “neutral” rating on the stock in a research note on Thursday, August 22nd. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Wolfspeed currently has a consensus rating of “Hold” and a consensus price target of $22.43.

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.