Alberta Investment Management Corp Makes New $1.67 Million Investment in Wolfspeed, Inc. (NYSE:WOLF)

Alberta Investment Management Corp acquired a new stake in shares of Wolfspeed, Inc. (NYSE:WOLF) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 250,560 shares of the company’s stock, valued at approximately $1,669,000. Alberta Investment Management Corp owned approximately 0.20% of Wolfspeed at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Eastern Bank acquired a new stake in Wolfspeed in the 3rd quarter valued at $27,000. R Squared Ltd bought a new position in shares of Wolfspeed during the fourth quarter valued at $28,000. KBC Group NV boosted its stake in shares of Wolfspeed by 76.5% in the 4th 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. Allworth Financial LP boosted its stake in shares of Wolfspeed by 38.1% in the 4th quarter. Allworth Financial LP now owns 7,060 shares of the company’s stock valued at $44,000 after purchasing an additional 1,949 shares in the last quarter. Finally, Asset Management One Co. Ltd. grew its holdings in shares of Wolfspeed by 69.0% in the 3rd quarter. Asset Management One Co. Ltd. now owns 7,067 shares of the company’s stock worth $69,000 after purchasing an additional 2,885 shares during the last quarter.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on WOLF. JPMorgan Chase & Co. cut their price target on shares of Wolfspeed from $20.00 to $17.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. Susquehanna cut their target price 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. Canaccord Genuity Group decreased their price target on Wolfspeed from $18.00 to $10.00 and set a “buy” rating on the stock in a research report on Thursday, January 30th. Roth Mkm cut their price objective on Wolfspeed from $25.00 to $20.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Finally, Bank of America reduced their price objective on 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 issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $14.86.

Wolfspeed Stock Down 9.0 %

Shares of NYSE WOLF opened at $6.81 on Friday. The company has a current ratio of 3.15, a quick ratio of 2.47 and a debt-to-equity ratio of 17.26. The firm has a market capitalization of $869.09 million, a PE ratio of -0.89 and a beta of 1.43. The firm’s 50-day moving average is $6.44 and its 200-day moving average is $9.17. Wolfspeed, Inc. has a 1 year low of $4.66 and a 1 year high of $30.86.

Wolfspeed (NYSE:WOLF) last posted its quarterly 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 net margin of 125.96% and a negative return on equity of 70.84%. Equities analysts expect that Wolfspeed, Inc. will post -4 EPS for the current year.

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.