D.A. Davidson & CO. Boosts Stake in Wolfspeed, Inc. (NYSE:WOLF)

D.A. Davidson & CO. lifted its position in shares of Wolfspeed, Inc. (NYSE:WOLF) by 2.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 58,008 shares of the company’s stock after acquiring an additional 1,621 shares during the quarter. D.A. Davidson & CO.’s holdings in Wolfspeed were worth $2,524,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. State of Michigan Retirement System lifted its stake in Wolfspeed by 1.0% in the 4th quarter. State of Michigan Retirement System now owns 30,022 shares of the company’s stock worth $1,306,000 after purchasing an additional 300 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its stake in Wolfspeed by 2.8% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 11,573 shares of the company’s stock worth $435,000 after purchasing an additional 317 shares in the last quarter. Independence Bank of Kentucky lifted its stake in Wolfspeed by 97.0% in the 4th quarter. Independence Bank of Kentucky now owns 711 shares of the company’s stock worth $31,000 after purchasing an additional 350 shares in the last quarter. Fox Run Management L.L.C. lifted its stake in Wolfspeed by 3.4% in the 3rd quarter. Fox Run Management L.L.C. now owns 13,407 shares of the company’s stock worth $511,000 after purchasing an additional 437 shares in the last quarter. Finally, Capital Investment Advisory Services LLC increased its holdings in shares of Wolfspeed by 6.1% during the 4th quarter. Capital Investment Advisory Services LLC now owns 8,665 shares of the company’s stock worth $377,000 after buying an additional 500 shares during the last quarter.

Wolfspeed Stock Up 5.4 %

NYSE WOLF traded up $1.34 on Friday, reaching $26.27. 2,838,733 shares of the stock traded hands, compared to its average volume of 4,338,338. The firm’s fifty day simple moving average is $26.08 and its 200 day simple moving average is $31.31. The company has a debt-to-equity ratio of 5.55, a quick ratio of 4.00 and a current ratio of 4.58. Wolfspeed, Inc. has a 12 month low of $20.63 and a 12 month high of $70.42.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on WOLF shares. Deutsche Bank Aktiengesellschaft cut their price target on shares of Wolfspeed from $30.00 to $25.00 and set a “hold” rating for the company in a report on Tuesday, May 7th. Canaccord Genuity Group cut their price target on Wolfspeed from $50.00 to $47.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Susquehanna cut their price target on Wolfspeed from $25.00 to $23.00 and set a “neutral” rating on the stock in a report on Thursday, May 2nd. Mizuho cut their price target on Wolfspeed from $30.00 to $27.00 and set a “neutral” rating on the stock in a report on Thursday, May 2nd. Finally, Citigroup cut their price target on Wolfspeed from $29.00 to $25.00 and set a “neutral” rating on the stock in a report on Thursday, May 2nd. One 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 MarketBeat.com, Wolfspeed has a consensus rating of “Hold” and a consensus price target of $36.29.

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.