Wolfspeed, Inc. (NYSE:WOLF) Shares Sold by Oak Harbor Wealth Partners LLC

Oak Harbor Wealth Partners LLC cut its position in Wolfspeed, Inc. (NYSE:WOLF) by 97.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 15,615 shares of the company’s stock after selling 609,563 shares during the quarter. Oak Harbor Wealth Partners LLC’s holdings in Wolfspeed were worth $104,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Jones Financial Companies Lllp raised its position in shares of Wolfspeed by 1,240.6% during the 4th quarter. Jones Financial Companies Lllp now owns 3,834 shares of the company’s stock worth $26,000 after buying an additional 3,548 shares in the last quarter. R Squared Ltd purchased a new position in Wolfspeed during the fourth quarter valued at approximately $28,000. Steward Partners Investment Advisory LLC grew its position in Wolfspeed by 192.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,429 shares of the company’s stock valued at $29,000 after purchasing an additional 2,912 shares in the last quarter. KBC Group NV grew its position in Wolfspeed by 76.5% during the fourth quarter. KBC Group NV now owns 6,064 shares of the company’s stock valued at $40,000 after purchasing an additional 2,629 shares in the last quarter. Finally, Allworth Financial LP lifted its stake in Wolfspeed by 38.1% in the fourth quarter. Allworth Financial LP now owns 7,060 shares of the company’s stock valued at $44,000 after acquiring an additional 1,949 shares during the last quarter.

Analyst Upgrades and Downgrades

WOLF has been the subject of a number of analyst reports. Susquehanna reduced their price objective on shares of Wolfspeed from $11.00 to $7.00 and set a “neutral” rating for the company in a research note on Wednesday, January 22nd. Piper Sandler lowered 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. StockNews.com raised shares of Wolfspeed to a “sell” rating in a report on Monday, January 6th. Canaccord Genuity Group decreased their price objective on shares of Wolfspeed from $18.00 to $10.00 and set a “buy” rating on the stock in a report on Thursday, January 30th. Finally, Bank of America cut their target price 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. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued 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.

Wolfspeed Price Performance

Wolfspeed stock opened at $5.95 on Friday. The company has a market cap of $759.25 million, a price-to-earnings ratio of -0.77 and a beta of 1.50. Wolfspeed, Inc. has a 12 month low of $4.66 and a 12 month high of $30.86. The business’s 50 day simple moving average is $6.09 and its 200 day simple moving average is $8.72. 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 posted its earnings results on Wednesday, January 29th. The company reported ($1.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.90) by ($0.20). Wolfspeed had a negative return on equity of 70.84% and a negative net margin of 125.96%. Sell-side analysts forecast that Wolfspeed, Inc. will post -4 EPS for the current year.

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.