Capital International Investors Has $558.18 Million Stake in Wolfspeed, Inc. (NYSE:WOLF)

Capital International Investors decreased its holdings in shares of Wolfspeed, Inc. (NYSE:WOLF) by 0.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 12,828,806 shares of the company’s stock after selling 18,068 shares during the period. Capital International Investors owned approximately 10.20% of Wolfspeed worth $558,181,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in WOLF. State of Michigan Retirement System grew its position in shares of Wolfspeed by 1.0% in the 4th quarter. State of Michigan Retirement System now owns 30,022 shares of the company’s stock valued at $1,306,000 after purchasing an additional 300 shares during the period. DekaBank Deutsche Girozentrale raised its holdings in shares of Wolfspeed by 2.8% during the third quarter. DekaBank Deutsche Girozentrale now owns 11,573 shares of the company’s stock worth $435,000 after acquiring an additional 317 shares during the period. Independence Bank of Kentucky lifted its position in Wolfspeed by 97.0% in the 4th quarter. Independence Bank of Kentucky now owns 711 shares of the company’s stock valued at $31,000 after acquiring an additional 350 shares in the last quarter. Capital Investment Advisory Services LLC boosted its stake in Wolfspeed by 6.1% in the 4th quarter. Capital Investment Advisory Services LLC now owns 8,665 shares of the company’s stock worth $377,000 after purchasing an additional 500 shares during the period. Finally, Treasurer of the State of North Carolina increased its holdings in Wolfspeed by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 54,998 shares of the company’s stock worth $2,393,000 after purchasing an additional 540 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on WOLF shares. Roth Mkm reissued a “buy” rating and issued a $50.00 target price on shares of Wolfspeed in a research report on Tuesday, April 30th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Wolfspeed from $30.00 to $25.00 and set a “hold” rating on the stock in a research report on Tuesday, May 7th. William Blair downgraded shares of Wolfspeed from an “outperform” rating to a “market perform” rating in a research report on Thursday, May 2nd. JPMorgan Chase & Co. lowered their price target on shares of Wolfspeed from $43.00 to $35.00 and set a “neutral” rating on the stock in a research note on Thursday, April 11th. Finally, Wells Fargo & Company restated an “equal weight” rating and set a $30.00 price objective (down from $55.00) on shares of Wolfspeed in a research note on Wednesday, April 3rd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $36.29.

Insider Buying and Selling at Wolfspeed

In other Wolfspeed news, Director Marvin Riley bought 1,866 shares of the stock in a transaction on Tuesday, May 28th. The stock was purchased at an average price of $27.05 per share, with a total value of $50,475.30. Following the completion of the purchase, the director now owns 13,297 shares in the company, valued at $359,683.85. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.85% of the company’s stock.

Wolfspeed Stock Performance

WOLF stock traded up $1.83 during trading hours on Wednesday, hitting $29.00. 2,472,185 shares of the stock were exchanged, compared to its average volume of 4,541,455. The company has a current ratio of 4.58, a quick ratio of 4.00 and a debt-to-equity ratio of 5.55. The firm has a market capitalization of $3.65 billion, a P/E ratio of -4.45 and a beta of 1.60. Wolfspeed, Inc. has a 12 month low of $20.63 and a 12 month high of $70.42. The company has a 50-day simple moving average of $26.04 and a two-hundred day simple moving average of $30.91.

Wolfspeed (NYSE:WOLF) last released its earnings results 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. The company had revenue of $200.70 million for 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 forecast that Wolfspeed, Inc. will post -3.13 earnings per share for the current fiscal 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.