Slow Capital Inc. Has $2.06 Million Position in Wolfspeed, Inc. (NYSE:WOLF)

Slow Capital Inc. boosted its position in Wolfspeed, Inc. (NYSE:WOLF) by 9.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 47,305 shares of the company’s stock after purchasing an additional 4,085 shares during the quarter. Slow Capital Inc.’s holdings in Wolfspeed were worth $2,058,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in WOLF. Aspire Private Capital LLC lifted its position in shares of Wolfspeed by 50.0% during the 4th quarter. Aspire Private Capital LLC now owns 600 shares of the company’s stock valued at $41,424,000,000 after acquiring an additional 200 shares during the period. Capital Impact Advisors LLC raised its holdings in shares of Wolfspeed by 9.8% during the 4th quarter. Capital Impact Advisors LLC now owns 2,607 shares of the company’s stock worth $180,000 after buying an additional 232 shares in the last quarter. Graham Capital Management L.P. raised its holdings in shares of Wolfspeed by 1.3% during the 1st quarter. Graham Capital Management L.P. now owns 23,051 shares of the company’s stock worth $1,497,000 after buying an additional 291 shares in the last quarter. State of Michigan Retirement System raised its holdings in shares of Wolfspeed by 1.0% during the 4th quarter. State of Michigan Retirement System now owns 30,022 shares of the company’s stock worth $1,306,000 after buying an additional 300 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. increased its holdings in Wolfspeed by 5.3% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 6,248 shares of the company’s stock worth $406,000 after purchasing an additional 316 shares in the last quarter.

Wolfspeed Trading Down 0.4 %

NYSE:WOLF traded down $0.11 on Wednesday, hitting $25.44. The stock had a trading volume of 5,738,370 shares, compared to its average volume of 3,506,874. The business’s fifty day moving average is $27.18 and its 200 day moving average is $32.84. The company has a quick ratio of 4.58, a current ratio of 5.13 and a debt-to-equity ratio of 4.50. Wolfspeed, Inc. has a 52 week low of $23.54 and a 52 week high of $70.42.

Wolfspeed (NYSE:WOLF) last announced its quarterly earnings results on Wednesday, January 31st. The company reported ($0.69) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.79) by $0.10. Wolfspeed had a negative return on equity of 19.35% and a negative net margin of 87.35%. The business had revenue of $208.40 million for the quarter, compared to analyst estimates of $205.94 million. On average, sell-side analysts predict that Wolfspeed, Inc. will post -3.05 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $30.00 target price (down previously from $55.00) on shares of Wolfspeed in a report on Wednesday, April 3rd. Mizuho assumed coverage on Wolfspeed in a report on Friday, April 5th. They issued a “neutral” rating and a $30.00 target price for the company. Susquehanna reaffirmed a “neutral” rating and issued a $35.00 target price on shares of Wolfspeed in a report on Monday, April 8th. Piper Sandler decreased their price target on Wolfspeed from $55.00 to $45.00 and set an “overweight” rating for the company in a research note on Thursday, February 1st. Finally, JPMorgan Chase & Co. decreased their price target on Wolfspeed from $43.00 to $35.00 and set a “neutral” rating for the company in a research note on Thursday, April 11th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $43.63.

Insider Activity

In related news, Director Darren R. Jackson bought 10,000 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were bought at an average price of $25.80 per share, for a total transaction of $258,000.00. Following the completion of the acquisition, the director now directly owns 49,021 shares of the company’s stock, valued at $1,264,741.80. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.85% of the company’s stock.

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.