Samlyn Capital LLC Acquires 343,277 Shares of Wolfspeed, Inc. (NYSE:WOLF)

Samlyn Capital LLC lifted its holdings in Wolfspeed, Inc. (NYSE:WOLF) by 51.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,009,137 shares of the company’s stock after buying an additional 343,277 shares during the quarter. Samlyn Capital LLC owned about 0.80% of Wolfspeed worth $22,968,000 at the end of the most recent quarter.

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

Wolfspeed Trading Up 0.2 %

NYSE WOLF opened at $8.12 on Tuesday. The company has a market cap of $1.02 billion, a PE ratio of -1.26 and a beta of 1.52. Wolfspeed, Inc. has a 12 month low of $7.28 and a 12 month high of $47.43. The stock has a 50 day moving average of $13.34 and a 200-day moving average of $21.49. The company has a current ratio of 4.51, a quick ratio of 3.85 and a debt-to-equity ratio of 6.99.

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

Analysts Set New Price Targets

Several analysts have commented on the stock. Oppenheimer reiterated a “market perform” rating on shares of Wolfspeed in a research report on Tuesday, July 9th. Morgan Stanley reduced their target price on Wolfspeed from $23.00 to $15.00 and set an “equal weight” rating on the stock in a report on Thursday, August 15th. Piper Sandler lowered their price target on Wolfspeed from $35.00 to $20.00 and set an “overweight” rating for the company in a report on Thursday, August 22nd. Bank of America decreased their price objective on Wolfspeed from $25.00 to $15.00 and set an “underperform” rating for the company in a research report on Friday, August 23rd. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of Wolfspeed from $17.00 to $14.00 and set a “hold” rating for the company in a report on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus 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.