1,105 Shares in Wolfspeed, Inc. (NYSE:WOLF) Bought by Rakuten Securities Inc.

Rakuten Securities Inc. purchased a new position in Wolfspeed, Inc. (NYSE:WOLF) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,105 shares of the company’s stock, valued at approximately $48,000.

A number of other hedge funds have also recently added to or reduced their stakes in WOLF. Envestnet Asset Management Inc. increased its stake in Wolfspeed by 234.5% during 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 in the last quarter. Vanguard Group Inc. boosted its stake in Wolfspeed by 1.5% during 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 bought a new stake in Wolfspeed during the 3rd quarter worth approximately $2,032,000. UBS Group AG raised its stake in shares of Wolfspeed by 57.5% in the third quarter. UBS Group AG now owns 219,080 shares of the company’s stock worth $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 third 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 in the last quarter.

Insider Activity at Wolfspeed

In other Wolfspeed news, Director Darren R. Jackson acquired 10,000 shares of Wolfspeed stock in a transaction that occurred on Friday, February 2nd. The stock was acquired at an average cost of $25.80 per share, for a total transaction of $258,000.00. Following the purchase, the director now owns 49,021 shares of the company’s stock, valued at $1,264,741.80. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.62% of the stock is currently owned by corporate insiders.

Wolfspeed Stock Performance

Shares of NYSE WOLF opened at $25.24 on Thursday. 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 one year low of $23.54 and a one year high of $70.42. The business’s fifty day moving average price is $27.16 and its 200-day moving average price is $32.79.

Wolfspeed (NYSE:WOLF) last announced its quarterly earnings data on Wednesday, January 31st. The company reported ($0.69) earnings per share (EPS) for the quarter, beating 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%. On average, research analysts anticipate that Wolfspeed, Inc. will post -3.05 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on WOLF. 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 report on Thursday, April 11th. Mizuho began coverage on shares of Wolfspeed in a report on Friday, April 5th. They issued a “neutral” rating and a $30.00 target price for the company. Wells Fargo & Company restated an “equal weight” rating and set a $30.00 price target (down from $55.00) on shares of Wolfspeed in a report on Wednesday, April 3rd. Piper Sandler decreased their price objective on shares of Wolfspeed from $55.00 to $45.00 and set an “overweight” rating for the company in a research note on Thursday, February 1st. Finally, Susquehanna reaffirmed a “neutral” rating and issued a $35.00 target price on shares of Wolfspeed in a report on Monday, April 8th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $43.63.

About Wolfspeed

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.