Yousif Capital Management LLC Sells 5,977 Shares of Wolfspeed, Inc. (NYSE:WOLF)

Yousif Capital Management LLC reduced its stake in Wolfspeed, Inc. (NYSE:WOLFGet Rating) by 8.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,060 shares of the company’s stock after selling 5,977 shares during the period. Yousif Capital Management LLC’s holdings in Wolfspeed were worth $6,518,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in WOLF. Handelsbanken Fonder AB boosted its stake in shares of Wolfspeed by 104.6% during the third quarter. Handelsbanken Fonder AB now owns 646,554 shares of the company’s stock valued at $66,828,000 after purchasing an additional 330,582 shares in the last quarter. Hardman Johnston Global Advisors LLC boosted its stake in shares of Wolfspeed by 15.9% during the third quarter. Hardman Johnston Global Advisors LLC now owns 507,402 shares of the company’s stock valued at $52,445,000 after purchasing an additional 69,540 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Wolfspeed by 38,868.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 446,972 shares of the company’s stock valued at $46,198,000 after purchasing an additional 445,825 shares in the last quarter. Barclays PLC boosted its stake in shares of Wolfspeed by 180.1% during the third quarter. Barclays PLC now owns 407,799 shares of the company’s stock valued at $42,150,000 after purchasing an additional 262,221 shares in the last quarter. Finally, Raymond James & Associates boosted its stake in shares of Wolfspeed by 4.4% during the third quarter. Raymond James & Associates now owns 235,642 shares of the company’s stock valued at $24,356,000 after purchasing an additional 9,905 shares in the last quarter.

Wolfspeed Trading Down 4.8 %

Shares of Wolfspeed stock opened at $81.61 on Wednesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 4.61 and a quick ratio of 3.97. The firm has a fifty day moving average price of $79.67 and a 200 day moving average price of $93.32. Wolfspeed, Inc. has a 1 year low of $58.07 and a 1 year high of $125.48. The stock has a market cap of $10.14 billion, a PE ratio of -62.30 and a beta of 1.46.

Wolfspeed (NYSE:WOLFGet Rating) last issued its earnings results on Wednesday, October 26th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.01). Wolfspeed had a negative return on equity of 4.40% and a negative net margin of 18.90%. The business had revenue of $241.30 million for the quarter, compared to analysts’ expectations of $239.76 million. Equities research analysts predict that Wolfspeed, Inc. will post -0.94 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Duy Loan T. Le purchased 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 1st. The shares were bought at an average price of $77.26 per share, for a total transaction of $77,260.00. Following the completion of the transaction, the director now owns 25,662 shares in the company, valued at $1,982,646.12. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Duy Loan T. Le purchased 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 1st. The shares were bought at an average price of $77.26 per share, for a total transaction of $77,260.00. Following the completion of the transaction, the director now owns 25,662 shares in the company, valued at $1,982,646.12. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Duy Loan T. Le purchased 2,000 shares of the company’s stock in a transaction that occurred on Friday, November 18th. The shares were purchased at an average price of $91.04 per share, for a total transaction of $182,080.00. Following the transaction, the director now owns 29,662 shares of the company’s stock, valued at approximately $2,700,428.48. The disclosure for this purchase can be found here. 0.62% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on WOLF shares. Evercore ISI dropped their price objective on shares of Wolfspeed to $115.00 in a research note on Tuesday, November 15th. Citigroup decreased their target price on shares of Wolfspeed from $115.00 to $100.00 and set a “buy” rating for the company in a research report on Friday, November 4th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Wolfspeed from $90.00 to $80.00 in a research report on Wednesday, January 11th. Piper Sandler decreased their target price on shares of Wolfspeed from $130.00 to $100.00 in a research report on Thursday, October 27th. Finally, BMO Capital Markets decreased their target price on shares of Wolfspeed from $100.00 to $85.00 and set a “market perform” rating for the company in a research report on Thursday, October 27th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $102.67.

About Wolfspeed

(Get Rating)

Wolfspeed, Inc operates as a powerhouse semiconductor company focuses on silicon carbide and gallium nitride (GaN) technologies Europe, China, the United States, Japan, South Korea, 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.

Featured Articles

Want to see what other hedge funds are holding WOLF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wolfspeed, Inc. (NYSE:WOLFGet Rating).

Institutional Ownership by Quarter for Wolfspeed (NYSE:WOLF)

Receive News & Ratings for Wolfspeed Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wolfspeed and related companies with MarketBeat.com's FREE daily email newsletter.