Nomura Asset Management Co. Ltd. Has $287,000 Position in Wolfspeed, Inc. (NYSE:WOLF)

Nomura Asset Management Co. Ltd. lessened its holdings in shares of Wolfspeed, Inc. (NYSE:WOLFFree Report) by 80.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 6,600 shares of the company’s stock after selling 27,360 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Wolfspeed were worth $287,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in WOLF. Neuberger Berman Group LLC boosted its holdings in Wolfspeed by 256.0% in the 4th quarter. Neuberger Berman Group LLC now owns 188,216 shares of the company’s stock valued at $8,189,000 after purchasing an additional 135,348 shares during the period. Aigen Investment Management LP acquired a new position in shares of Wolfspeed during the fourth quarter valued at about $308,000. D.A. Davidson & CO. lifted its stake in shares of Wolfspeed by 2.9% in the fourth quarter. D.A. Davidson & CO. now owns 58,008 shares of the company’s stock valued at $2,524,000 after buying an additional 1,621 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in Wolfspeed during the fourth quarter worth about $288,000. Finally, Norges Bank bought a new position in Wolfspeed during the fourth quarter valued at about $308,701,000.

Insider Activity at Wolfspeed

In other Wolfspeed news, Director Marvin Riley acquired 1,866 shares of Wolfspeed stock in a transaction on Tuesday, May 28th. The shares were bought at an average price of $27.05 per share, with a total value of $50,475.30. Following the completion of the purchase, the director now owns 13,297 shares in the company, valued at $359,683.85. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.62% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Mizuho reduced their price objective on Wolfspeed from $30.00 to $27.00 and set a “neutral” rating for the company in a research report on Thursday, May 2nd. Canaccord Genuity Group reduced their target price on Wolfspeed from $50.00 to $47.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. William Blair downgraded shares of Wolfspeed from an “outperform” rating to a “market perform” rating in a research note on Thursday, May 2nd. TD Cowen cut shares of Wolfspeed from a “buy” rating to a “hold” rating and dropped their price objective for the company from $40.00 to $25.00 in a research note on Thursday, May 2nd. Finally, Susquehanna reduced their price objective on shares of Wolfspeed from $25.00 to $23.00 and set a “neutral” rating for the company in a report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $36.29.

Check Out Our Latest Stock Report on Wolfspeed

Wolfspeed Stock Down 1.0 %

Shares of WOLF stock opened at $25.70 on Friday. Wolfspeed, Inc. has a 12-month low of $20.63 and a 12-month high of $70.42. The company has a debt-to-equity ratio of 5.55, a current ratio of 4.58 and a quick ratio of 4.00. The firm has a 50-day moving average price of $26.04 and a 200 day moving average price of $31.07.

Wolfspeed (NYSE:WOLFGet Free Report) last posted its quarterly earnings data on Wednesday, May 1st. The company reported ($0.79) earnings per share for the quarter, topping the consensus estimate of ($0.82) by $0.03. The company had revenue of $200.70 million during the quarter, compared to analyst estimates of $201.49 million. Wolfspeed had a negative net margin of 96.12% and a negative return on equity of 27.37%. On average, research analysts predict that Wolfspeed, Inc. will post -3.13 earnings per share for the current fiscal year.

Wolfspeed Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Wolfspeed (NYSE:WOLF)

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