DekaBank Deutsche Girozentrale Invests $2.15 Million in Wolfspeed, Inc. (NYSE:WOLF)

DekaBank Deutsche Girozentrale purchased a new stake in shares of Wolfspeed, Inc. (NYSE:WOLF) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 92,899 shares of the company’s stock, valued at approximately $2,147,000. DekaBank Deutsche Girozentrale owned 0.07% of Wolfspeed at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. TFO Wealth Partners LLC boosted its position in Wolfspeed by 57,400.0% during the 4th quarter. TFO Wealth Partners LLC now owns 575 shares of the company’s stock valued at $25,000 after acquiring an additional 574 shares in the last quarter. Mather Group LLC. lifted its stake in shares of Wolfspeed by 385.5% in the 2nd 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. Advisors Asset Management Inc. boosted its position 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 valued at $52,000 after purchasing an additional 691 shares in the last quarter. Signaturefd LLC grew its stake in Wolfspeed by 284.3% in the second quarter. Signaturefd LLC now owns 2,087 shares of the company’s stock worth $48,000 after purchasing an additional 1,544 shares during the period. Finally, Sunbelt Securities Inc. raised its holdings in Wolfspeed by 34.7% in the first quarter. Sunbelt Securities Inc. now owns 2,724 shares of the company’s stock worth $80,000 after purchasing an additional 702 shares in the last quarter.

Wolfspeed Price Performance

Shares of NYSE:WOLF opened at $8.35 on Thursday. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of -1.29 and a beta of 1.52. The firm has a fifty day moving average price of $14.64 and a 200 day moving average price of $22.03. Wolfspeed, Inc. has a fifty-two week low of $7.28 and a fifty-two week high of $47.43. 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 (NYSE:WOLF) last released its quarterly earnings data 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 net margin of 107.93% and a negative return on equity of 37.76%. The company had revenue of $200.70 million for the quarter, compared to the consensus estimate of $201.11 million. As a group, sell-side analysts expect that Wolfspeed, Inc. will post -3.84 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on WOLF shares. Susquehanna dropped their target price on shares of Wolfspeed from $23.00 to $16.00 and set a “neutral” rating on the stock in a report on Thursday, August 22nd. TD Cowen dropped their price objective 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. Morgan Stanley decreased their target price on shares of Wolfspeed from $23.00 to $15.00 and set an “equal weight” rating for the company in a research note on Thursday, August 15th. Piper Sandler dropped their price target on Wolfspeed from $35.00 to $20.00 and set an “overweight” rating on the stock in a research report on Thursday, August 22nd. Finally, The Goldman Sachs Group reduced their price objective on Wolfspeed from $48.00 to $28.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Wolfspeed presently has an average rating of “Hold” and an average price target of $24.53.

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.