Bryce Point Capital LLC Acquires New Holdings in Wolfspeed, Inc. (NYSE:WOLF)

Bryce Point Capital LLC purchased a new position in Wolfspeed, Inc. (NYSE:WOLF - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 150,650 shares of the company's stock, valued at approximately $1,003,000. Bryce Point Capital LLC owned about 0.12% of Wolfspeed as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. CIBC Private Wealth Group LLC lifted its stake in shares of Wolfspeed by 96.7% in the 4th quarter. CIBC Private Wealth Group LLC now owns 170,753 shares of the company's stock valued at $1,137,000 after acquiring an additional 83,939 shares during the last quarter. Vanguard Group Inc. increased its stake in Wolfspeed by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 15,924,290 shares of the company's stock worth $106,056,000 after purchasing an additional 299,304 shares during the period. KLP Kapitalforvaltning AS bought a new stake in Wolfspeed in the fourth quarter valued at approximately $153,000. Primecap Management Co. CA boosted its stake in shares of Wolfspeed by 2.7% during the fourth quarter. Primecap Management Co. CA now owns 6,519,164 shares of the company's stock valued at $43,418,000 after purchasing an additional 169,984 shares during the period. Finally, Monaco Asset Management SAM bought a new position in shares of Wolfspeed in the fourth quarter worth approximately $999,000.

Wolfspeed Stock Down 7.1 %

NYSE:WOLF traded down $0.19 during mid-day trading on Tuesday, hitting $2.41. 8,282,415 shares of the company's stock were exchanged, compared to its average volume of 12,294,165. The company has a debt-to-equity ratio of 17.26, a current ratio of 3.15 and a quick ratio of 2.47. The business has a fifty day moving average price of $5.40 and a 200 day moving average price of $7.88. Wolfspeed, Inc. has a one year low of $2.32 and a one year high of $30.86. The company has a market cap of $307.15 million, a PE ratio of -0.31 and a beta of 1.69.

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

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. The Goldman Sachs Group lowered their price target on shares of Wolfspeed from $15.00 to $8.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. Bank of America dropped their target price on shares of Wolfspeed from $9.50 to $6.00 and set an "underperform" rating for the company in a report on Thursday, January 30th. Canaccord Genuity Group reduced their price target on Wolfspeed from $18.00 to $10.00 and set a "buy" rating on the stock in a report on Thursday, January 30th. Susquehanna dropped their price objective on Wolfspeed from $11.00 to $7.00 and set a "neutral" rating for the company in a report on Wednesday, January 22nd. Finally, Piper Sandler reduced their target price on Wolfspeed from $18.00 to $10.00 and set an "overweight" rating on the stock in a research note on Thursday, January 30th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Wolfspeed presently has a consensus rating of "Hold" and a consensus target price of $13.15.

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.