Jones Financial Companies Lllp Increases Holdings in Wolfspeed, Inc. (NYSE:WOLF)

Jones Financial Companies Lllp increased its position in Wolfspeed, Inc. (NYSE:WOLF) by 1,240.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 3,834 shares of the company’s stock after purchasing an additional 3,548 shares during the period. Jones Financial Companies Lllp’s holdings in Wolfspeed were worth $26,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Los Angeles Capital Management LLC purchased a new stake in shares of Wolfspeed in the 4th quarter valued at about $295,000. South Dakota Investment Council lifted its holdings in shares of Wolfspeed by 26.4% in the 4th quarter. South Dakota Investment Council now owns 717,482 shares of the company’s stock valued at $4,778,000 after purchasing an additional 149,648 shares during the last quarter. Alberta Investment Management Corp purchased a new stake in shares of Wolfspeed in the 4th quarter valued at about $1,669,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in shares of Wolfspeed in the 4th quarter valued at about $152,000. Finally, Truist Financial Corp purchased a new stake in shares of Wolfspeed in the 4th quarter valued at about $250,000.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Piper Sandler reduced their target price on Wolfspeed from $18.00 to $10.00 and set an “overweight” rating for the company in a report on Thursday, January 30th. StockNews.com raised Wolfspeed to a “sell” rating in a research note on Monday, January 6th. The Goldman Sachs Group reduced their price objective on Wolfspeed from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, January 30th. Susquehanna reduced their price objective on Wolfspeed from $11.00 to $7.00 and set a “neutral” rating for the company in a research note on Wednesday, January 22nd. Finally, Bank of America reduced their price objective on Wolfspeed from $9.50 to $6.00 and set an “underperform” rating for the company in a research note on Thursday, January 30th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $14.86.

Wolfspeed Stock Performance

NYSE WOLF opened at $5.94 on Thursday. The company has a current ratio of 3.15, a quick ratio of 2.47 and a debt-to-equity ratio of 17.26. The business’s 50 day moving average is $5.86 and its two-hundred day moving average is $8.28. Wolfspeed, Inc. has a 12-month low of $4.66 and a 12-month high of $30.86. The stock has a market capitalization of $757.98 million, a price-to-earnings ratio of -0.77 and a beta of 1.50.

Wolfspeed (NYSE:WOLF) last released its quarterly earnings results on Wednesday, January 29th. The company reported ($1.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.90) by ($0.20). Wolfspeed had a negative return on equity of 70.84% and a negative net margin of 125.96%. Research analysts expect that Wolfspeed, Inc. will post -4 EPS for the current year.

About Wolfspeed

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.