Vontobel Holding Ltd. Decreases Position in Wolfspeed, Inc. (NYSE:WOLF)

Vontobel Holding Ltd. decreased its holdings in Wolfspeed, Inc. (NYSE:WOLF) by 26.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,606 shares of the company’s stock after selling 15,544 shares during the quarter. Vontobel Holding Ltd.’s holdings in Wolfspeed were worth $1,897,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WOLF. Aspire Private Capital LLC raised its stake in Wolfspeed by 50.0% in the fourth quarter. Aspire Private Capital LLC now owns 600 shares of the company’s stock valued at $41,424,000,000 after buying an additional 200 shares during the last quarter. Capital Impact Advisors LLC increased its holdings in shares of Wolfspeed by 9.8% during the fourth quarter. Capital Impact Advisors LLC now owns 2,607 shares of the company’s stock valued at $180,000 after acquiring an additional 232 shares in the last quarter. Graham Capital Management L.P. raised its position in shares of Wolfspeed by 1.3% in the 1st quarter. Graham Capital Management L.P. now owns 23,051 shares of the company’s stock valued at $1,497,000 after purchasing an additional 291 shares during the last quarter. State of Michigan Retirement System boosted its stake in Wolfspeed by 1.0% in the 4th quarter. State of Michigan Retirement System now owns 30,022 shares of the company’s stock worth $1,306,000 after purchasing an additional 300 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. grew its position in Wolfspeed by 5.3% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 6,248 shares of the company’s stock worth $406,000 after purchasing an additional 316 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on WOLF. Wells Fargo & Company restated an “equal weight” rating and issued a $30.00 target price (down previously 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 issued a “neutral” rating and a $30.00 price objective for the company. JPMorgan Chase & Co. decreased their target price on Wolfspeed from $43.00 to $35.00 and set a “neutral” rating for the company in a report on Thursday, April 11th. Piper Sandler cut their price target on shares of Wolfspeed from $55.00 to $45.00 and set an “overweight” rating on the stock in a report on Thursday, February 1st. Finally, Susquehanna restated a “neutral” rating and set a $35.00 price objective on shares of Wolfspeed in a research note on Monday, April 8th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $43.63.

Wolfspeed Price Performance

WOLF stock opened at $22.18 on Friday. The company has a current ratio of 5.13, a quick ratio of 4.58 and a debt-to-equity ratio of 4.50. The company has a market capitalization of $2.79 billion, a P/E ratio of -3.65 and a beta of 1.66. The business has a 50 day simple moving average of $26.93 and a 200-day simple moving average of $32.61. Wolfspeed, Inc. has a twelve month low of $22.16 and a twelve month high of $70.42.

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

Insider Activity

In related news, Director Darren R. Jackson purchased 10,000 shares of the stock in a transaction dated Friday, February 2nd. The shares were acquired at an average cost of $25.80 per share, with a total value of $258,000.00. Following the purchase, the director now directly owns 49,021 shares in the company, valued at approximately $1,264,741.80. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.62% of the company’s stock.

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.