Wolfspeed, Inc. (NYSE:WOLF) Shares Sold by Brinker Capital Investments LLC

Brinker Capital Investments LLC trimmed its holdings in Wolfspeed, Inc. (NYSE:WOLFGet Rating) by 20.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,994 shares of the company’s stock after selling 2,504 shares during the period. Brinker Capital Investments LLC’s holdings in Wolfspeed were worth $1,033,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Handelsbanken Fonder AB raised its position in shares of Wolfspeed by 104.6% in the third quarter. Handelsbanken Fonder AB now owns 646,554 shares of the company’s stock valued at $66,828,000 after buying an additional 330,582 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Wolfspeed by 38,868.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 446,972 shares of the company’s stock valued at $46,198,000 after purchasing an additional 445,825 shares during the period. Raymond James & Associates grew its holdings in shares of Wolfspeed by 4.4% in the third quarter. Raymond James & Associates now owns 235,642 shares of the company’s stock valued at $24,356,000 after purchasing an additional 9,905 shares during the period. Thrivent Financial for Lutherans grew its holdings in shares of Wolfspeed by 622.7% in the second quarter. Thrivent Financial for Lutherans now owns 233,365 shares of the company’s stock valued at $14,807,000 after purchasing an additional 201,074 shares during the period. Finally, Woodline Partners LP grew its holdings in shares of Wolfspeed by 265.7% in the second quarter. Woodline Partners LP now owns 180,823 shares of the company’s stock valued at $11,473,000 after purchasing an additional 131,375 shares during the period.

Wolfspeed Stock Up 4.7 %

Shares of NYSE:WOLF opened at $79.92 on Monday. The firm’s 50 day moving average price is $79.98 and its 200 day moving average price is $93.31. 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, Inc. has a fifty-two week low of $58.07 and a fifty-two week high of $125.48. The company has a quick ratio of 3.97, a current ratio of 4.61 and a debt-to-equity ratio of 0.62.

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Wolfspeed from $90.00 to $80.00 in a report on Wednesday, January 11th. Piper Sandler dropped their price objective on shares of Wolfspeed from $130.00 to $100.00 in a report on Thursday, October 27th. Canaccord Genuity Group lowered their target price on shares of Wolfspeed from $114.00 to $111.00 and set a “buy” rating for the company in a research note on Tuesday, November 1st. StockNews.com initiated coverage on shares of Wolfspeed in a research note on Wednesday, October 12th. They set a “sell” rating for the company. Finally, Susquehanna initiated coverage on shares of Wolfspeed in a research note on Monday, December 12th. They set a “neutral” rating and a $90.00 target price for the company. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $102.67.

Insider Activity at Wolfspeed

In related news, Director Duy Loan T. Le acquired 1,000 shares of the business’s stock in a transaction on Tuesday, November 1st. The shares were bought at an average price of $77.26 per share, with a total value of $77,260.00. Following the completion of the acquisition, the director now owns 25,662 shares in the company, valued at $1,982,646.12. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Duy Loan T. Le acquired 1,000 shares of the business’s stock in a transaction on Tuesday, November 1st. The shares were bought at an average price of $77.26 per share, with a total value of $77,260.00. Following the completion of the acquisition, the director now owns 25,662 shares in the company, valued at $1,982,646.12. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Duy Loan T. Le acquired 2,000 shares of the business’s stock in a transaction on Friday, November 18th. The shares were bought at an average cost of $91.04 per share, for a total transaction of $182,080.00. Following the acquisition, the director now owns 29,662 shares of the company’s stock, valued at approximately $2,700,428.48. The disclosure for this purchase can be found here. 0.62% of the stock is owned by corporate insiders.

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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