IQ EQ FUND MANAGEMENT IRELAND Ltd Sells 27,107 Shares of Wolfspeed, Inc. (NYSE:WOLF)

IQ EQ FUND MANAGEMENT IRELAND Ltd lowered its holdings in Wolfspeed, Inc. (NYSE:WOLF) by 63.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,826 shares of the company’s stock after selling 27,107 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Wolfspeed were worth $105,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Two Sigma Advisers LP increased its holdings in Wolfspeed by 813.6% during the third quarter. Two Sigma Advisers LP now owns 2,458,600 shares of the company’s stock valued at $23,848,000 after buying an additional 2,189,500 shares during the last quarter. Erste Asset Management GmbH purchased a new position in shares of Wolfspeed in the third quarter worth $4,542,000. Charles Schwab Investment Management Inc. increased its holdings in Wolfspeed by 38.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,207,157 shares of the company’s stock valued at $8,040,000 after acquiring an additional 335,966 shares during the last quarter. Vanguard Group Inc. lifted its stake in Wolfspeed by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 15,924,290 shares of the company’s stock worth $106,056,000 after purchasing an additional 299,304 shares in the last quarter. Finally, Iridian Asset Management LLC CT boosted its holdings in shares of Wolfspeed by 56.6% during the 4th quarter. Iridian Asset Management LLC CT now owns 816,183 shares of the company’s stock valued at $5,436,000 after purchasing an additional 295,025 shares during the last quarter.

Wolfspeed Price Performance

Shares of WOLF stock opened at $2.61 on Friday. The stock has a 50 day moving average price of $5.82 and a 200 day moving average price of $8.12. The firm has a market capitalization of $332.69 million, a P/E ratio of -0.34 and a beta of 1.50. The company has a debt-to-equity ratio of 17.26, a quick ratio of 2.47 and a current ratio of 3.15. Wolfspeed, Inc. has a 52-week low of $2.54 and a 52-week high of $30.86.

Wolfspeed (NYSE:WOLF) last issued its earnings results on Wednesday, January 29th. The company reported ($1.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.90) by ($0.20). Wolfspeed had a negative net margin of 125.96% and a negative return on equity of 70.84%. As a group, sell-side analysts predict that Wolfspeed, Inc. will post -4 earnings per share for the current year.

Wall Street Analysts Forecast Growth

WOLF has been the subject of a number of research reports. The Goldman Sachs Group dropped their price target on Wolfspeed from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, January 30th. StockNews.com raised shares of Wolfspeed to a “sell” rating in a report on Monday, January 6th. Bank of America reduced their price target on shares of Wolfspeed from $9.50 to $6.00 and set an “underperform” rating on the stock in a research report on Thursday, January 30th. Susquehanna lowered their price objective on shares of Wolfspeed from $11.00 to $7.00 and set a “neutral” rating for the company in a research report on Wednesday, January 22nd. Finally, Piper Sandler reduced their target price on shares of Wolfspeed from $18.00 to $10.00 and set an “overweight” rating on the stock in a report on Thursday, January 30th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $14.86.

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.