Camden Asset Management L P CA Makes New Investment in Wolfspeed, Inc. $WOLF

Camden Asset Management L P CA purchased a new stake in shares of Wolfspeed, Inc. (NYSE:WOLF) in the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 330,479 shares of the company’s stock, valued at approximately $9,452,000. Camden Asset Management L P CA owned about 1.28% of Wolfspeed at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Two Seas Capital LP bought a new position in shares of Wolfspeed in the second quarter worth approximately $962,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Wolfspeed by 94.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,868,741 shares of the company’s stock valued at $5,718,000 after purchasing an additional 906,968 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in Wolfspeed by 176.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,380,499 shares of the company’s stock worth $4,224,000 after buying an additional 881,603 shares in the last quarter. GMT Capital Corp increased its holdings in shares of Wolfspeed by 42.9% in the 2nd quarter. GMT Capital Corp now owns 1,211,332 shares of the company’s stock worth $483,000 after buying an additional 363,784 shares during the last quarter. Finally, XTX Topco Ltd increased its holdings in shares of Wolfspeed by 4,954.1% in the 2nd quarter. XTX Topco Ltd now owns 982,770 shares of the company’s stock worth $392,000 after buying an additional 963,325 shares during the last quarter.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on WOLF. Wall Street Zen downgraded shares of Wolfspeed from a “hold” rating to a “sell” rating in a report on Saturday, February 7th. Susquehanna dropped their price target on Wolfspeed from $30.00 to $20.00 and set a “neutral” rating for the company in a research note on Thursday, January 22nd. Zacks Research upgraded Wolfspeed to a “hold” rating in a report on Monday, February 9th. Piper Sandler reiterated an “overweight” rating and set a $20.00 price objective (up from $6.00) on shares of Wolfspeed in a research report on Thursday, February 5th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Wolfspeed in a report on Monday, December 29th. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $12.75.

Wolfspeed Trading Down 12.6%

Shares of NYSE:WOLF opened at $16.56 on Monday. The stock has a market capitalization of $746.67 million and a P/E ratio of -2.35. The stock’s 50-day moving average price is $18.41 and its 200-day moving average price is $17.41. Wolfspeed, Inc. has a 12-month low of $8.05 and a 12-month high of $36.60.

Wolfspeed (NYSE:WOLF) last released its earnings results on Wednesday, February 4th. The company reported ($6.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.74) by ($5.37). The firm had revenue of $168.50 million during the quarter, compared to the consensus estimate of $170.00 million. During the same period in the previous year, the business posted ($0.95) earnings per share. The company’s revenue was down 6.6% compared to the same quarter last year. As a group, research analysts predict that Wolfspeed, Inc. will post -4 EPS for the current year.

Wolfspeed Profile

Wolfspeed, Inc (NYSE: WOLF) is a leading developer and manufacturer of silicon carbide (SiC) and gallium nitride (GaN) semiconductor materials and devices. The company’s product portfolio addresses high-growth markets such as electric vehicles, renewable energy, fast-charging infrastructure, aerospace and defense, and telecommunications. By leveraging proprietary materials and device designs, Wolfspeed delivers solutions that offer improved energy efficiency, higher power density and greater thermal performance compared to conventional silicon-based semiconductors.

Founded as part of Cree, Inc and spun off to form an independent public company in October 2021, Wolfspeed traces its roots to the mid-1980s when it pioneered the commercial use of wide-bandgap semiconductor technology.