Xponance Inc. Trims Stake in Wolfspeed, Inc. (NYSE:WOLF)

Xponance Inc. lessened its holdings in shares of Wolfspeed, Inc. (NYSE:WOLF) by 8.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 13,419 shares of the company’s stock after selling 1,301 shares during the quarter. Xponance Inc.’s holdings in Wolfspeed were worth $305,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. TFO Wealth Partners LLC lifted its stake in shares of Wolfspeed by 57,400.0% during the 4th quarter. TFO Wealth Partners LLC now owns 575 shares of the company’s stock worth $25,000 after purchasing an additional 574 shares during the period. Mather Group LLC. lifted its stake 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 purchasing an additional 933 shares during the period. Advisors Asset Management Inc. lifted its stake in shares of Wolfspeed by 64.8% during the 1st quarter. Advisors Asset Management Inc. now owns 1,757 shares of the company’s stock worth $52,000 after purchasing an additional 691 shares during the period. Signaturefd LLC lifted its stake 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 purchasing an additional 1,544 shares during the period. Finally, Sunbelt Securities Inc. lifted its stake in shares of Wolfspeed by 34.7% during the 1st quarter. Sunbelt Securities Inc. now owns 2,724 shares of the company’s stock worth $80,000 after purchasing an additional 702 shares during the period.

Wolfspeed Stock Down 8.4 %

Shares of NYSE WOLF opened at $8.89 on Wednesday. Wolfspeed, Inc. has a 12-month low of $7.28 and a 12-month high of $47.43. The company has a market cap of $1.12 billion, a P/E ratio of -1.38 and a beta of 1.52. The company has a current ratio of 4.51, a quick ratio of 3.85 and a debt-to-equity ratio of 6.99. The stock has a fifty day moving average price of $11.73 and a 200 day moving average price of $20.71.

Wolfspeed (NYSE:WOLF) last posted its quarterly earnings data on Wednesday, August 21st. The company reported ($1.06) earnings per share 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 analysts’ expectations of $201.11 million. Wolfspeed had a negative net margin of 107.93% and a negative return on equity of 37.76%. Research analysts anticipate that Wolfspeed, Inc. will post -3.84 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on WOLF. Mizuho reduced their price target on Wolfspeed from $28.00 to $17.00 and set a “neutral” rating on the stock in a research note on Thursday, August 22nd. The Goldman Sachs Group dropped their price objective on Wolfspeed from $48.00 to $28.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. TD Cowen dropped their price objective on Wolfspeed from $25.00 to $15.00 and set a “hold” rating for the company in a report on Thursday, August 22nd. Susquehanna dropped their price objective on Wolfspeed from $23.00 to $16.00 and set a “neutral” rating for the company in a report on Thursday, August 22nd. Finally, Oppenheimer restated a “market perform” rating on shares of Wolfspeed in a report on Tuesday, July 9th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $24.53.

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.