Doliver Advisors LP Has $452,000 Stake in Wolfspeed, Inc. (NYSE:WOLF)

Doliver Advisors LP grew its holdings in Wolfspeed, Inc. (NYSE:WOLFFree Report) by 11.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,320 shares of the company’s stock after purchasing an additional 1,563 shares during the period. Doliver Advisors LP’s holdings in Wolfspeed were worth $452,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in WOLF. Norges Bank acquired a new position in shares of Wolfspeed in the 4th quarter valued at about $308,701,000. FengHe Fund Management Pte. Ltd. grew its stake in shares of Wolfspeed by 438.9% in the 4th quarter. FengHe Fund Management Pte. Ltd. now owns 1,431,200 shares of the company’s stock valued at $62,272,000 after buying an additional 1,165,600 shares in the last quarter. JANA Partners Management LP bought a new stake in shares of Wolfspeed in the 3rd quarter valued at approximately $35,662,000. Cibc World Markets Corp bought a new stake in shares of Wolfspeed in the 4th quarter valued at approximately $34,808,000. Finally, Polar Capital Holdings Plc bought a new stake in shares of Wolfspeed in the 3rd quarter valued at approximately $16,200,000.

Analyst Upgrades and Downgrades

WOLF has been the subject of several recent research reports. Wells Fargo & Company reissued an “equal weight” rating and issued a $30.00 price target (down previously from $55.00) on shares of Wolfspeed in a research note on Wednesday, April 3rd. Susquehanna lowered their price target on Wolfspeed from $25.00 to $23.00 and set a “neutral” rating for the company in a research note on Thursday, May 2nd. TD Cowen cut Wolfspeed from a “buy” rating to a “hold” rating and decreased their target price for the stock from $40.00 to $25.00 in a research report on Thursday, May 2nd. Canaccord Genuity Group decreased their target price on Wolfspeed from $50.00 to $47.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Wolfspeed from $30.00 to $25.00 and set a “hold” rating for the company in a research report on Tuesday, May 7th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $36.36.

Get Our Latest Analysis on WOLF

Insider Activity

In other Wolfspeed news, Director Marvin Riley bought 1,866 shares of the stock in a transaction dated Tuesday, May 28th. The stock was bought at an average cost of $27.05 per share, for a total transaction of $50,475.30. Following the completion of the purchase, the director now owns 13,297 shares in the company, valued at approximately $359,683.85. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.62% of the stock is currently owned by corporate insiders.

Wolfspeed Stock Performance

Shares of NYSE WOLF traded down $0.64 during trading hours on Monday, reaching $22.95. The stock had a trading volume of 2,688,317 shares, compared to its average volume of 4,425,445. The business’s fifty day moving average is $25.80 and its two-hundred day moving average is $29.96. The company has a debt-to-equity ratio of 5.55, a current ratio of 4.58 and a quick ratio of 4.00. The company has a market cap of $2.89 billion, a price-to-earnings ratio of -3.55 and a beta of 1.60. Wolfspeed, Inc. has a twelve month low of $20.63 and a twelve month high of $70.42.

Wolfspeed (NYSE:WOLFGet Free Report) last released its quarterly earnings data on Wednesday, May 1st. The company reported ($0.79) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.82) by $0.03. Wolfspeed had a negative return on equity of 27.37% and a negative net margin of 96.12%. The firm had revenue of $200.70 million during the quarter, compared to analyst estimates of $201.49 million. As a group, research analysts expect that Wolfspeed, Inc. will post -3.13 EPS for the current year.

Wolfspeed Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Wolfspeed (NYSE:WOLF)

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