Caitong International Asset Management Co. Ltd Invests $8.56 Million in Wolfspeed, Inc. $WOLF

Caitong International Asset Management Co. Ltd acquired a new position in shares of Wolfspeed, Inc. (NYSE:WOLF) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 299,313 shares of the company’s stock, valued at approximately $8,560,000. Wolfspeed comprises 5.9% of Caitong International Asset Management Co. Ltd’s investment portfolio, making the stock its 4th biggest position. Caitong International Asset Management Co. Ltd owned approximately 1.16% of Wolfspeed as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in WOLF. Camden Asset Management L P CA purchased a new position in shares of Wolfspeed in the 3rd quarter worth approximately $9,452,000. Two Seas Capital LP bought a new position in shares of Wolfspeed during the 2nd quarter worth approximately $962,000. Vontobel Holding Ltd. lifted its position in Wolfspeed by 21.5% during the third quarter. Vontobel Holding Ltd. now owns 582,845 shares of the company’s stock valued at $16,669,000 after acquiring an additional 103,282 shares during the last quarter. Silverback Asset Management LLC acquired a new stake in Wolfspeed in the third quarter valued at approximately $8,191,000. Finally, XTX Topco Ltd boosted its stake in Wolfspeed by 4,954.1% in the second quarter. XTX Topco Ltd now owns 982,770 shares of the company’s stock valued at $392,000 after acquiring an additional 963,325 shares in the last quarter.

Analyst Ratings Changes

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

Wolfspeed Price Performance

Shares of WOLF stock opened at $17.84 on Wednesday. The business has a fifty day moving average of $18.34 and a 200 day moving average of $18.21. Wolfspeed, Inc. has a 1 year low of $8.05 and a 1 year high of $36.60. The firm has a market capitalization of $804.41 million and a price-to-earnings ratio of -2.53.

Wolfspeed (NYSE:WOLF) last released its earnings results on Wednesday, January 28th. The company reported ($6.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.74) by ($5.37). The company’s revenue for the quarter was down 6.6% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.95) earnings per share. As a group, equities research analysts expect that Wolfspeed, Inc. will post -4 earnings per share 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.