Mutual of America Capital Management LLC Sells 3,482 Shares of Wolfspeed, Inc. (NYSE:WOLF)

Mutual of America Capital Management LLC lowered its position in shares of Wolfspeed, Inc. (NYSE:WOLF) by 4.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 77,425 shares of the company’s stock after selling 3,482 shares during the period. Mutual of America Capital Management LLC’s holdings in Wolfspeed were worth $3,369,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the company. Forum Financial Management LP bought a new position in Wolfspeed during the 1st quarter worth $200,000. Cubist Systematic Strategies LLC increased its stake in Wolfspeed by 536.7% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 31,066 shares of the company’s stock worth $1,971,000 after acquiring an additional 26,187 shares during the period. Macquarie Group Ltd. increased its stake in Wolfspeed by 12.5% during the 2nd quarter. Macquarie Group Ltd. now owns 55,966 shares of the company’s stock worth $3,551,000 after acquiring an additional 6,201 shares during the period. Centiva Capital LP bought a new position in Wolfspeed during the 2nd quarter worth $304,000. Finally, Captrust Financial Advisors increased its stake in Wolfspeed by 20.2% during the 2nd quarter. Captrust Financial Advisors now owns 7,011 shares of the company’s stock worth $445,000 after acquiring an additional 1,180 shares during the period.

Analyst Ratings Changes

A number of equities analysts have commented on WOLF shares. Mizuho started coverage on Wolfspeed in a research note on Friday, April 5th. They set a “neutral” rating and a $30.00 price objective on the stock. JPMorgan Chase & Co. decreased their price target on Wolfspeed from $43.00 to $35.00 and set a “neutral” rating on the stock in a research note on Thursday, April 11th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $30.00 price target (down previously from $55.00) on shares of Wolfspeed in a research note on Wednesday, April 3rd. Susquehanna reiterated a “neutral” rating and issued a $35.00 price target on shares of Wolfspeed in a research note on Monday, April 8th. Finally, Piper Sandler decreased their price target on Wolfspeed from $55.00 to $45.00 and set an “overweight” rating on the stock in a research note on Thursday, February 1st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $43.63.

Wolfspeed Stock Down 0.8 %

Shares of WOLF opened at $25.24 on Thursday. The company has a market capitalization of $3.18 billion, a PE ratio of -4.15 and a beta of 1.66. Wolfspeed, Inc. has a 12 month low of $23.54 and a 12 month high of $70.42. The stock’s 50-day moving average price is $27.16 and its two-hundred day moving average price is $32.79. 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 (NYSE:WOLF) last announced its earnings results on Wednesday, January 31st. The company reported ($0.69) EPS for the quarter, topping the consensus estimate of ($0.79) by $0.10. The firm had revenue of $208.40 million for the quarter, compared to the consensus estimate of $205.94 million. Wolfspeed had a negative return on equity of 19.35% and a negative net margin of 87.35%. On average, analysts anticipate that Wolfspeed, Inc. will post -3.05 EPS for the current year.

Insiders Place Their Bets

In related news, Director Darren R. Jackson bought 10,000 shares of the business’s stock in a transaction on Friday, February 2nd. The shares were purchased at an average cost of $25.80 per share, with a total value of $258,000.00. Following the acquisition, the director now owns 49,021 shares of the company’s stock, valued at $1,264,741.80. The purchase was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.85% of the company’s stock.

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.