Wolfspeed, Inc. (NYSE:WOLF) Shares Purchased by Perigon Wealth Management LLC

Perigon Wealth Management LLC boosted its holdings in Wolfspeed, Inc. (NYSE:WOLF) by 44.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,965 shares of the company’s stock after acquiring an additional 2,771 shares during the quarter. Perigon Wealth Management LLC’s holdings in Wolfspeed were worth $390,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Wolfspeed by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 12,471,667 shares of the company’s stock valued at $475,171,000 after purchasing an additional 188,236 shares in the last quarter. Norges Bank bought a new position in Wolfspeed during the 4th quarter valued at $223,238,000. Artisan Partners Limited Partnership boosted its stake in Wolfspeed by 7.3% during the 3rd quarter. Artisan Partners Limited Partnership now owns 2,273,472 shares of the company’s stock valued at $86,619,000 after purchasing an additional 154,021 shares in the last quarter. Geode Capital Management LLC boosted its stake in Wolfspeed by 3.9% during the 1st quarter. Geode Capital Management LLC now owns 1,758,439 shares of the company’s stock valued at $114,047,000 after purchasing an additional 66,337 shares in the last quarter. Finally, FengHe Fund Management Pte. Ltd. boosted its stake in Wolfspeed by 438.9% during the 4th quarter. FengHe Fund Management Pte. Ltd. now owns 1,431,200 shares of the company’s stock valued at $62,272,000 after purchasing an additional 1,165,600 shares in the last quarter.

Insider Buying and Selling

In other news, Director Darren R. Jackson acquired 10,000 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was acquired at an average cost of $25.80 per share, for a total transaction of $258,000.00. Following the completion of the acquisition, the director now owns 49,021 shares in the company, valued at $1,264,741.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.85% of the stock is owned by corporate insiders.

Wolfspeed Price Performance

Shares of NYSE:WOLF opened at $25.42 on Wednesday. The company has a current ratio of 5.13, a quick ratio of 4.58 and a debt-to-equity ratio of 4.50. Wolfspeed, Inc. has a 1 year low of $23.54 and a 1 year high of $70.42. The business has a fifty day simple moving average of $27.18 and a 200 day simple moving average of $32.84. The firm has a market cap of $3.20 billion, a price-to-earnings ratio of -4.18 and a beta of 1.66.

Wolfspeed (NYSE:WOLF) last announced its quarterly earnings data on Wednesday, January 31st. The company reported ($0.69) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.79) by $0.10. Wolfspeed had a negative return on equity of 19.35% and a negative net margin of 87.35%. The business had revenue of $208.40 million during the quarter, compared to analyst estimates of $205.94 million. As a group, sell-side analysts predict that Wolfspeed, Inc. will post -3.05 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. decreased their price target on Wolfspeed from $43.00 to $35.00 and set a “neutral” rating for the company in a research note on Thursday, April 11th. Wells Fargo & Company reissued an “equal weight” rating and set a $30.00 price objective (down from $55.00) on shares of Wolfspeed in a research note on Wednesday, April 3rd. Mizuho initiated coverage on Wolfspeed in a research note on Friday, April 5th. They set a “neutral” rating and a $30.00 price objective for the company. Susquehanna reissued a “neutral” rating and set a $35.00 price objective on shares of Wolfspeed in a research note on Monday, April 8th. Finally, Piper Sandler reduced their price objective on Wolfspeed from $55.00 to $45.00 and set an “overweight” rating for the company in a research note on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $43.63.

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.