Wolfspeed, Inc. (NYSE:WOLF) Stock Holdings Increased by Primecap Management Co. CA

Primecap Management Co. CA raised its holdings in shares of Wolfspeed, Inc. (NYSE:WOLF) by 2.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,519,164 shares of the company’s stock after acquiring an additional 169,984 shares during the period. Primecap Management Co. CA owned approximately 0.05% of Wolfspeed worth $43,418,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. South Dakota Investment Council raised its stake in shares of Wolfspeed by 26.4% in the 4th quarter. South Dakota Investment Council now owns 717,482 shares of the company’s stock worth $4,778,000 after buying an additional 149,648 shares in the last quarter. Public Sector Pension Investment Board bought a new stake in shares of Wolfspeed in the 3rd quarter worth $2,590,000. Principal Financial Group Inc. raised its stake in shares of Wolfspeed by 41.4% in the 3rd quarter. Principal Financial Group Inc. now owns 592,599 shares of the company’s stock worth $5,748,000 after buying an additional 173,409 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in shares of Wolfspeed by 225.0% in the 3rd quarter. Thrivent Financial for Lutherans now owns 98,832 shares of the company’s stock worth $959,000 after buying an additional 68,423 shares in the last quarter. Finally, Quadrature Capital Ltd raised its stake in shares of Wolfspeed by 301.8% in the 3rd quarter. Quadrature Capital Ltd now owns 184,674 shares of the company’s stock worth $1,790,000 after buying an additional 138,715 shares in the last quarter.

Analysts Set New Price Targets

A number of analysts have recently commented on WOLF shares. Susquehanna dropped their price objective on Wolfspeed from $11.00 to $7.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 22nd. Mizuho dropped their price objective on Wolfspeed from $10.00 to $6.00 and set an “underperform” rating on the stock in a research note on Tuesday, November 19th. Piper Sandler dropped their price objective on Wolfspeed from $18.00 to $10.00 and set an “overweight” rating on the stock in a research note on Thursday, January 30th. Bank of America decreased their target price on Wolfspeed from $9.50 to $6.00 and set an “underperform” rating on the stock in a report on Thursday, January 30th. Finally, StockNews.com upgraded Wolfspeed to a “sell” rating in a report on Monday, January 6th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $14.86.

Wolfspeed Price Performance

WOLF opened at $5.45 on Wednesday. The stock has a market cap of $695.40 million, a price-to-earnings ratio of -0.71 and a beta of 1.50. Wolfspeed, Inc. has a 1 year low of $4.66 and a 1 year high of $30.86. 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 stock has a fifty day moving average price of $5.86 and a 200 day moving average price of $8.29.

Wolfspeed (NYSE:WOLF) last released its quarterly earnings data 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%. Analysts forecast that Wolfspeed, Inc. will post -4 EPS for the current fiscal year.

Wolfspeed Company 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.