Wolfspeed, Inc. $WOLF Shares Sold by CastleKnight Management LP

CastleKnight Management LP lessened its stake in Wolfspeed, Inc. (NYSE:WOLF) by 25.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 229,846 shares of the company’s stock after selling 80,200 shares during the quarter. CastleKnight Management LP owned approximately 0.51% of Wolfspeed worth $4,002,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Canada Pension Plan Investment Board acquired a new stake in Wolfspeed during the second quarter worth about $34,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Wolfspeed during the second quarter worth about $34,000. Marex Group plc acquired a new stake in Wolfspeed during the second quarter worth about $44,000. Eastern Bank acquired a new stake in Wolfspeed during the fourth quarter worth about $46,000. Finally, WINTON GROUP Ltd acquired a new stake in Wolfspeed during the second quarter worth about $47,000.

Wolfspeed Stock Up 8.2%

WOLF opened at $48.69 on Thursday. Wolfspeed, Inc. has a fifty-two week low of $8.05 and a fifty-two week high of $80.82. The firm has a market cap of $2.53 billion and a price-to-earnings ratio of -4.61. The company’s 50-day moving average price is $45.07 and its 200 day moving average price is $27.79.

Wolfspeed (NYSE:WOLF) last posted its 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 firm had revenue of $150.20 million during the quarter, compared to the consensus estimate of $150.00 million. During the same quarter last year, the company posted ($0.72) EPS. Wolfspeed’s revenue for the quarter was down 19.0% on a year-over-year basis.

Analyst Ratings Changes

WOLF has been the topic of several research reports. Wall Street Zen upgraded shares of Wolfspeed from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Wolfspeed in a research note on Friday, March 27th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Wolfspeed presently has an average rating of “Hold” and a consensus target price 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.