Capital Investment Advisory Services LLC Increases Holdings in Wolfspeed, Inc. (NYSE:WOLF)

Capital Investment Advisory Services LLC grew its holdings in shares of Wolfspeed, Inc. (NYSE:WOLF) by 6.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,665 shares of the company’s stock after buying an additional 500 shares during the period. Capital Investment Advisory Services LLC’s holdings in Wolfspeed were worth $377,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of WOLF. Envestnet Asset Management Inc. lifted its holdings in shares of Wolfspeed by 234.5% in the 3rd quarter. Envestnet Asset Management Inc. now owns 168,103 shares of the company’s stock valued at $6,405,000 after purchasing an additional 117,848 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Wolfspeed by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 12,471,667 shares of the company’s stock valued at $475,171,000 after purchasing an additional 188,236 shares during the last quarter. Boston Partners purchased a new stake in shares of Wolfspeed in the 3rd quarter valued at about $2,032,000. UBS Group AG lifted its holdings in shares of Wolfspeed by 57.5% in the 3rd quarter. UBS Group AG now owns 219,080 shares of the company’s stock valued at $8,347,000 after purchasing an additional 80,011 shares during the last quarter. Finally, UniSuper Management Pty Ltd lifted its holdings in shares of Wolfspeed by 86.7% in the 3rd quarter. UniSuper Management Pty Ltd now owns 703,822 shares of the company’s stock valued at $26,816,000 after purchasing an additional 326,810 shares during the last quarter.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on WOLF. Mizuho began coverage on Wolfspeed in a report on Friday, April 5th. They issued a “neutral” rating and a $30.00 target price for the company. Deutsche Bank Aktiengesellschaft reduced their price objective on Wolfspeed from $35.00 to $30.00 and set a “hold” rating for the company in a research note on Tuesday. Piper Sandler reduced their price objective on Wolfspeed from $55.00 to $45.00 and set an “overweight” rating for the company in a research note on Thursday, February 1st. JPMorgan Chase & Co. reduced their price objective on Wolfspeed from $43.00 to $35.00 and set a “neutral” rating for the company in a research note on Thursday, April 11th. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and set a $30.00 price objective (down from $55.00) on shares of Wolfspeed in a research note on Wednesday, April 3rd. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $41.88.

Wolfspeed Stock Performance

NYSE WOLF opened at $22.57 on Wednesday. The company has a current ratio of 5.13, a quick ratio of 4.58 and a debt-to-equity ratio of 4.50. The business’s 50 day moving average is $26.71 and its two-hundred day moving average is $32.45. Wolfspeed, Inc. has a 12-month low of $21.85 and a 12-month high of $70.42.

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

Insider Buying and Selling

In other news, Director Darren R. Jackson purchased 10,000 shares of the stock in a transaction that occurred on Friday, February 2nd. The shares were acquired at an average price of $25.80 per share, for a total transaction of $258,000.00. Following the acquisition, the director now directly owns 49,021 shares in the company, valued at approximately $1,264,741.80. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.85% of the company’s stock.

Wolfspeed Company 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.