Two Seas Capital LP Makes New Investment in Wolfspeed, Inc. $WOLF

Two Seas Capital LP purchased a new position in shares of Wolfspeed, Inc. (NYSE:WOLF) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 2,412,111 shares of the company’s stock, valued at approximately $962,000.

Several other institutional investors and hedge funds have also recently modified their holdings of WOLF. DekaBank Deutsche Girozentrale acquired a new position in Wolfspeed in the 2nd quarter valued at about $28,000. Caitlin John LLC acquired a new position in shares of Wolfspeed in the second quarter valued at approximately $31,000. MAI Capital Management increased its stake in Wolfspeed by 894.9% during the 1st quarter. MAI Capital Management now owns 10,815 shares of the company’s stock worth $33,000 after buying an additional 9,728 shares during the period. State of Alaska Department of Revenue increased its stake in Wolfspeed by 15.4% during the 2nd quarter. State of Alaska Department of Revenue now owns 99,465 shares of the company’s stock worth $38,000 after buying an additional 13,265 shares during the period. Finally, Praxis Investment Management Inc. acquired a new stake in Wolfspeed during the 2nd quarter worth approximately $41,000.

Analysts Set New Price Targets

Several equities analysts have commented on WOLF shares. Weiss Ratings restated a “sell (e+)” rating on shares of Wolfspeed in a research note on Saturday, September 27th. Susquehanna lifted their target price on Wolfspeed to $30.00 and gave the company a “neutral” rating in a report on Wednesday, October 22nd. Finally, Wall Street Zen upgraded Wolfspeed to a “hold” rating in a report on Saturday, November 22nd. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $10.50.

Wolfspeed Trading Up 2.3%

Wolfspeed stock opened at $21.85 on Thursday. The stock has a market cap of $565.69 million and a P/E ratio of -34.68. The company has a fifty day simple moving average of $23.57 and a 200-day simple moving average of $9.22. Wolfspeed, Inc. has a 12-month low of $8.05 and a 12-month high of $36.60.

Wolfspeed (NYSE:WOLF) last announced its quarterly earnings results on Wednesday, October 29th. The company reported ($0.63) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.05. The business had revenue of $196.80 million for the quarter, compared to analysts’ expectations of $195.37 million. As a group, sell-side analysts forecast that Wolfspeed, Inc. will post -4 earnings per share for the current fiscal year.

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.