XTX Topco Ltd Has $60,000 Stock Holdings in Wolfspeed (NYSE:WOLF)

XTX Topco Ltd decreased its holdings in shares of Wolfspeed (NYSE:WOLF) by 39.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,445 shares of the company’s stock after selling 12,896 shares during the quarter. XTX Topco Ltd’s holdings in Wolfspeed were worth $60,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Frontier Capital Management Co. LLC lifted its holdings in shares of Wolfspeed by 94.2% during the fourth quarter. Frontier Capital Management Co. LLC now owns 2,050,778 shares of the company’s stock worth $13,658,000 after buying an additional 995,020 shares in the last quarter. Voloridge Investment Management LLC lifted its holdings in shares of Wolfspeed by 0.7% during the fourth quarter. Voloridge Investment Management LLC now owns 1,915,695 shares of the company’s stock worth $12,759,000 after buying an additional 12,660 shares in the last quarter. South Dakota Investment Council lifted its holdings in shares of Wolfspeed by 121.8% during the first quarter. South Dakota Investment Council now owns 1,591,056 shares of the company’s stock worth $4,869,000 after buying an additional 873,574 shares in the last quarter. Iridian Asset Management LLC CT boosted its holdings in Wolfspeed by 11.9% in the 1st quarter. Iridian Asset Management LLC CT now owns 913,529 shares of the company’s stock valued at $2,795,000 after purchasing an additional 97,346 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in Wolfspeed by 10.6% in the 1st quarter. Bank of New York Mellon Corp now owns 839,036 shares of the company’s stock valued at $2,567,000 after purchasing an additional 80,693 shares during the period.

Wolfspeed Stock Up 3.8%

WOLF stock opened at $1.35 on Friday. The company has a market cap of $210.10 million, a PE ratio of -0.16 and a beta of 1.23. The business has a 50-day simple moving average of $1.33 and a 200 day simple moving average of $3.12. Wolfspeed has a 52 week low of $0.39 and a 52 week high of $17.45. The company has a quick ratio of 3.90, a current ratio of 4.64 and a debt-to-equity ratio of 30.65.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on WOLF. JPMorgan Chase & Co. reissued an “underweight” rating on shares of Wolfspeed in a report on Friday, May 9th. Citigroup reissued a “sell” rating and issued a $3.00 price objective (down previously from $7.00) on shares of Wolfspeed in a report on Friday, May 9th. Finally, Piper Sandler cut their price objective on shares of Wolfspeed from $10.00 to $6.00 and set an “overweight” rating for the company in a report on Friday, May 9th. Five equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $10.58.

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.