Wolfspeed, Inc. (NYSE:WOLF) Shares Acquired by South Dakota Investment Council

South Dakota Investment Council lifted its holdings in shares of Wolfspeed, Inc. (NYSE:WOLF) by 26.4% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 717,482 shares of the company’s stock after purchasing an additional 149,648 shares during the quarter. South Dakota Investment Council owned about 0.56% of Wolfspeed worth $4,778,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in WOLF. Two Sigma Advisers LP lifted its position in shares of Wolfspeed by 813.6% during the third quarter. Two Sigma Advisers LP now owns 2,458,600 shares of the company’s stock worth $23,848,000 after purchasing an additional 2,189,500 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Wolfspeed by 1,158.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 833,201 shares of the company’s stock worth $8,082,000 after purchasing an additional 766,971 shares in the last quarter. Erste Asset Management GmbH acquired a new stake in shares of Wolfspeed during the third quarter worth about $4,542,000. Iridian Asset Management LLC CT increased its stake in shares of Wolfspeed by 319.9% during the third quarter. Iridian Asset Management LLC CT now owns 521,158 shares of the company’s stock worth $5,055,000 after buying an additional 397,057 shares during the period. Finally, Yong Rong HK Asset Management Ltd purchased a new stake in shares of Wolfspeed during the third quarter worth approximately $2,988,000.

Wolfspeed Price Performance

WOLF stock opened at $6.81 on Monday. The company has a market capitalization of $869.07 million, a P/E ratio of -0.89 and a beta of 1.43. Wolfspeed, Inc. has a twelve month low of $4.66 and a twelve month high of $30.86. The business has a 50 day simple moving average of $6.44 and a 200-day simple moving average of $9.11. The company has a current ratio of 3.15, a quick ratio of 2.47 and a debt-to-equity ratio of 17.26.

Wolfspeed (NYSE:WOLF) last announced its quarterly earnings data on Wednesday, January 29th. The company reported ($1.10) earnings per share (EPS) for the quarter, missing the consensus estimate 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, equities analysts anticipate that Wolfspeed, Inc. will post -4 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on WOLF. JPMorgan Chase & Co. cut their target price on shares of Wolfspeed from $20.00 to $17.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. Susquehanna dropped their price target on shares of Wolfspeed from $11.00 to $7.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 22nd. Canaccord Genuity Group dropped their price target on shares of Wolfspeed from $18.00 to $10.00 and set a “buy” rating on the stock in a research note on Thursday, January 30th. Roth Mkm dropped their price target on shares of Wolfspeed from $25.00 to $20.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Finally, Bank of America dropped their price target on shares of Wolfspeed from $9.50 to $6.00 and set an “underperform” rating on the stock in a research note on Thursday, January 30th. Three research 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. According to data from MarketBeat.com, Wolfspeed currently has a consensus rating of “Hold” and an average target price of $14.86.

Wolfspeed 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.