Ardsley Advisory Partners LP Purchases Shares of 165,000 Wolfspeed, Inc. $WOLF

Ardsley Advisory Partners LP purchased a new stake in Wolfspeed, Inc. (NYSE:WOLF) during the 4th quarter, Holdings Channel reports. The fund purchased 165,000 shares of the company’s stock, valued at approximately $2,873,000.

A number of other institutional investors have also modified their holdings of the company. Capital Investment Advisory Services LLC raised its position in shares of Wolfspeed by 13.3% in the fourth quarter. Capital Investment Advisory Services LLC now owns 15,174 shares of the company’s stock valued at $264,000 after buying an additional 1,783 shares during the last quarter. Eastern Bank acquired a new position in shares of Wolfspeed in the fourth quarter valued at approximately $46,000. Stifel Financial Corp raised its position in shares of Wolfspeed by 38.2% in the fourth quarter. Stifel Financial Corp now owns 56,037 shares of the company’s stock valued at $976,000 after buying an additional 15,494 shares during the last quarter. Quinn Opportunity Partners LLC raised its position in shares of Wolfspeed by 23.9% in the fourth quarter. Quinn Opportunity Partners LLC now owns 86,400 shares of the company’s stock valued at $1,504,000 after buying an additional 16,686 shares during the last quarter. Finally, Militia Capital Partners LP raised its position in shares of Wolfspeed by 69.2% in the fourth quarter. Militia Capital Partners LP now owns 44,000 shares of the company’s stock valued at $766,000 after buying an additional 18,000 shares during the last quarter.

Wolfspeed Stock Performance

Shares of WOLF stock opened at $48.69 on Thursday. Wolfspeed, Inc. has a one year low of $8.05 and a one year high of $80.82. The company has a 50 day moving average price of $45.07 and a 200 day moving average price of $27.79. The firm has a market capitalization of $2.53 billion and a price-to-earnings ratio of -4.61.

Wolfspeed (NYSE:WOLF) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($3.26) EPS for the quarter, topping the consensus estimate of ($3.78) by $0.52. The company had revenue of $150.20 million for the quarter, compared to analyst estimates of $150.00 million. During the same period last year, the company posted ($0.72) EPS. The business’s revenue for the quarter was down 19.0% on a year-over-year basis.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Wall Street Zen raised shares of Wolfspeed from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Wolfspeed in a research report on Friday, March 27th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $20.00.

Wolfspeed Company 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.