Wolfspeed, Inc. (NYSE:WOLF) Shares Purchased by GSA Capital Partners LLP

GSA Capital Partners LLP boosted its stake in Wolfspeed, Inc. (NYSE:WOLF) by 230.0% in the 3rd quarter, Holdings Channel reports. The firm owned 58,986 shares of the company’s stock after buying an additional 41,114 shares during the quarter. GSA Capital Partners LLP’s holdings in Wolfspeed were worth $572,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. increased its holdings in Wolfspeed by 41.4% in the 3rd quarter. Principal Financial Group Inc. now owns 592,599 shares of the company’s stock valued at $5,748,000 after purchasing an additional 173,409 shares in the last quarter. Bridgewater Advisors Inc. acquired a new stake in Wolfspeed in the 3rd quarter valued at $233,000. Asset Management One Co. Ltd. increased its holdings in Wolfspeed by 69.0% in the 3rd quarter. Asset Management One Co. Ltd. now owns 7,067 shares of the company’s stock valued at $69,000 after purchasing an additional 2,885 shares in the last quarter. Ground Swell Capital LLC acquired a new stake in Wolfspeed in the 3rd quarter valued at $99,000. Finally, Yong Rong HK Asset Management Ltd acquired a new stake in Wolfspeed in the 3rd quarter valued at $2,988,000.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on WOLF shares. Mizuho lowered their target price on Wolfspeed from $10.00 to $6.00 and set an “underperform” rating for the company in a research note on Tuesday. New Street Research downgraded Wolfspeed from a “buy” rating to a “neutral” rating and set a $18.00 target price for the company. in a research note on Wednesday, August 7th. The Goldman Sachs Group lowered their target price on Wolfspeed from $22.00 to $19.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Susquehanna lowered their target price on Wolfspeed from $16.00 to $11.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. Finally, Roth Mkm lowered their target price on Wolfspeed from $25.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $17.21.

Wolfspeed Stock Performance

Shares of NYSE WOLF opened at $6.45 on Wednesday. The company has a quick ratio of 2.54, a current ratio of 3.14 and a debt-to-equity ratio of 9.82. The firm’s 50-day moving average price is $10.77 and its two-hundred day moving average price is $17.09. Wolfspeed, Inc. has a 52-week low of $6.34 and a 52-week high of $47.43. The stock has a market capitalization of $823.11 million, a P/E ratio of -1.08 and a beta of 1.46.

Wolfspeed (NYSE:WOLF) last issued its earnings results on Wednesday, August 21st. The company reported ($1.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.03) by ($0.03). Wolfspeed had a negative return on equity of 49.86% and a negative net margin of 93.31%. The business had revenue of $200.70 million during the quarter, compared to the consensus estimate of $201.11 million. As a group, sell-side analysts forecast that Wolfspeed, Inc. will post -4.13 earnings per share for the current year.

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.