Stephens Inc. AR Reduces Stock Holdings in Wolfspeed, Inc. (NYSE:WOLF)

Stephens Inc. AR decreased its stake in Wolfspeed, Inc. (NYSE:WOLFGet Rating) by 22.1% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,173 shares of the company’s stock after selling 2,324 shares during the quarter. Stephens Inc. AR’s holdings in Wolfspeed were worth $845,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Victory Capital Management Inc. lifted its holdings in shares of Wolfspeed by 206.4% in the 3rd quarter. Victory Capital Management Inc. now owns 78,304 shares of the company’s stock valued at $8,094,000 after buying an additional 52,752 shares during the period. Lisanti Capital Growth LLC acquired a new position in Wolfspeed in the 3rd quarter worth about $3,826,000. Kestra Advisory Services LLC raised its holdings in Wolfspeed by 11.9% in the 3rd quarter. Kestra Advisory Services LLC now owns 22,153 shares of the company’s stock worth $2,290,000 after purchasing an additional 2,355 shares during the period. Assetmark Inc. raised its holdings in Wolfspeed by 4,128.9% in the 3rd quarter. Assetmark Inc. now owns 5,709 shares of the company’s stock worth $590,000 after purchasing an additional 5,574 shares during the period. Finally, SG Americas Securities LLC raised its holdings in Wolfspeed by 137.9% in the 3rd quarter. SG Americas Securities LLC now owns 45,227 shares of the company’s stock worth $4,675,000 after purchasing an additional 26,218 shares during the period.

Analyst Ratings Changes

A number of research firms recently weighed in on WOLF. Wells Fargo & Company reduced their price target on Wolfspeed from $130.00 to $110.00 and set an “overweight” rating for the company in a report on Thursday, October 27th. Susquehanna Bancshares began coverage on Wolfspeed in a report on Monday, December 12th. They issued a “neutral” rating and a $90.00 price target for the company. Piper Sandler reduced their target price on Wolfspeed from $130.00 to $100.00 in a report on Thursday, October 27th. Citigroup reduced their target price on Wolfspeed from $115.00 to $100.00 and set a “buy” rating for the company in a report on Friday, November 4th. Finally, Evercore ISI reduced their target price on Wolfspeed to $115.00 in a report on Tuesday, November 15th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $102.67.

Wolfspeed Stock Up 4.7 %

Shares of NYSE:WOLF opened at $79.92 on Friday. Wolfspeed, Inc. has a one year low of $58.07 and a one year high of $125.48. The company has a 50 day moving average of $79.98 and a 200-day moving average of $93.24. The company has a debt-to-equity ratio of 0.62, a current ratio of 4.61 and a quick ratio of 3.97. The stock has a market cap of $9.93 billion, a price-to-earnings ratio of -61.01 and a beta of 1.46.

Wolfspeed (NYSE:WOLFGet Rating) last issued its quarterly earnings results on Wednesday, October 26th. The company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.01). Wolfspeed had a negative return on equity of 4.40% and a negative net margin of 18.90%. The business had revenue of $241.30 million for the quarter, compared to analyst estimates of $239.76 million. On average, sell-side analysts forecast that Wolfspeed, Inc. will post -0.94 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Duy Loan T. Le acquired 2,000 shares of the business’s stock in a transaction that occurred on Friday, November 18th. The stock was acquired at an average price of $91.04 per share, with a total value of $182,080.00. Following the completion of the transaction, the director now directly owns 29,662 shares of the company’s stock, valued at approximately $2,700,428.48. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Duy Loan T. Le acquired 1,000 shares of the firm’s stock in a transaction dated Tuesday, November 1st. The shares were purchased at an average price of $77.26 per share, with a total value of $77,260.00. Following the completion of the purchase, the director now directly owns 25,662 shares of the company’s stock, valued at $1,982,646.12. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Duy Loan T. Le purchased 2,000 shares of the business’s stock in a transaction on Friday, November 18th. The shares were purchased at an average price of $91.04 per share, with a total value of $182,080.00. Following the acquisition, the director now directly owns 29,662 shares in the company, valued at $2,700,428.48. The disclosure for this purchase can be found here. Insiders own 0.62% of the company’s stock.

Wolfspeed Company Profile

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Wolfspeed, Inc operates as a powerhouse semiconductor company focuses on silicon carbide and gallium nitride (GaN) technologies Europe, China, the United States, Japan, South Korea, 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.

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Institutional Ownership by Quarter for Wolfspeed (NYSE:WOLF)

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