Militia Capital Partners LP Acquires 18,000 Shares of Wolfspeed, Inc. $WOLF

Militia Capital Partners LP grew its holdings in shares of Wolfspeed, Inc. (NYSE:WOLF) by 69.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 44,000 shares of the company’s stock after acquiring an additional 18,000 shares during the quarter. Militia Capital Partners LP’s holdings in Wolfspeed were worth $766,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Marshall Wace LLP bought a new stake in shares of Wolfspeed during the 4th quarter valued at about $5,284,000. Quinn Opportunity Partners LLC raised its holdings in shares of Wolfspeed by 23.9% during the 4th quarter. Quinn Opportunity Partners LLC now owns 86,400 shares of the company’s stock valued at $1,504,000 after buying an additional 16,686 shares in the last quarter. Stifel Financial Corp raised its holdings in shares of Wolfspeed by 38.2% during the 4th quarter. Stifel Financial Corp now owns 56,037 shares of the company’s stock valued at $976,000 after buying an additional 15,494 shares in the last quarter. Hudson Bay Capital Management LP purchased a new position in shares of Wolfspeed during the 4th quarter valued at about $12,187,000. Finally, First Trust Advisors LP purchased a new position in shares of Wolfspeed during the 4th quarter valued at about $1,072,000.

Wolfspeed Trading Down 8.4%

Shares of NYSE WOLF opened at $44.96 on Wednesday. The stock has a market cap of $2.34 billion and a price-to-earnings ratio of -4.26. Wolfspeed, Inc. has a 1-year low of $8.05 and a 1-year high of $80.82. The stock’s 50-day moving average is $44.46 and its 200 day moving average is $27.60.

Wolfspeed (NYSE:WOLF) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($3.26) earnings per share for the quarter, beating analysts’ consensus estimates of ($3.78) by $0.52. The firm had revenue of $150.20 million for the quarter, compared to analysts’ expectations of $150.00 million. The business’s quarterly revenue was down 19.0% on a year-over-year basis. During the same period in the prior year, the business posted ($0.72) earnings per share.

Wall Street Analysts Forecast Growth

WOLF has been the topic of a number of research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Wolfspeed in a report on Friday, March 27th. Wall Street Zen raised Wolfspeed from a “strong sell” rating to a “sell” rating in a report on Saturday, May 9th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $20.00.

Wolfspeed Company Profile

Wolfspeed, Inc (NYSE: WOLF) is a leading developer and manufacturer of silicon carbide (SiC) and gallium nitride (GaN) semiconductor materials and devices. The company’s product portfolio addresses high-growth markets such as electric vehicles, renewable energy, fast-charging infrastructure, aerospace and defense, and telecommunications. By leveraging proprietary materials and device designs, Wolfspeed delivers solutions that offer improved energy efficiency, higher power density and greater thermal performance compared to conventional silicon-based semiconductors.

Founded as part of Cree, Inc and spun off to form an independent public company in October 2021, Wolfspeed traces its roots to the mid-1980s when it pioneered the commercial use of wide-bandgap semiconductor technology.