Charles Schwab Investment Management Inc. Has $8.04 Million Stake in Wolfspeed, Inc. (NYSE:WOLF)

Charles Schwab Investment Management Inc. grew its holdings in shares of Wolfspeed, Inc. (NYSE:WOLF - Free Report) by 38.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,207,157 shares of the company's stock after buying an additional 335,966 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.95% of Wolfspeed worth $8,040,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of WOLF. Thrivent Financial for Lutherans raised its position in Wolfspeed by 225.0% during the third quarter. Thrivent Financial for Lutherans now owns 98,832 shares of the company's stock worth $959,000 after acquiring an additional 68,423 shares in the last quarter. Quest Partners LLC increased its stake in shares of Wolfspeed by 315.2% during the 3rd quarter. Quest Partners LLC now owns 37,899 shares of the company's stock worth $368,000 after purchasing an additional 28,772 shares during the last quarter. Intech Investment Management LLC raised its holdings in shares of Wolfspeed by 13.8% in the 3rd quarter. Intech Investment Management LLC now owns 55,700 shares of the company's stock valued at $540,000 after purchasing an additional 6,757 shares during the period. Algert Global LLC lifted its stake in Wolfspeed by 173.6% in the 3rd quarter. Algert Global LLC now owns 145,216 shares of the company's stock valued at $1,409,000 after purchasing an additional 92,140 shares during the last quarter. Finally, Qsemble Capital Management LP bought a new position in Wolfspeed during the third quarter worth about $802,000.

Wolfspeed Price Performance

Shares of NYSE WOLF traded down $0.47 during mid-day trading on Thursday, reaching $5.38. The company had a trading volume of 21,841,482 shares, compared to its average volume of 20,057,814. The firm has a market cap of $687.35 million, a price-to-earnings ratio of -0.70 and a beta of 1.50. The business's 50-day simple moving average is $5.92 and its 200 day simple moving average is $8.17. Wolfspeed, Inc. has a one year low of $4.66 and a one year high of $30.86. The company has a debt-to-equity ratio of 17.26, a quick ratio of 2.47 and a current ratio of 3.15.

Wolfspeed (NYSE:WOLF - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The company reported ($1.10) earnings per share 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%. On average, research analysts predict that Wolfspeed, Inc. will post -4 earnings per share for the current fiscal year.

Analyst Ratings Changes

WOLF has been the topic of several research analyst reports. StockNews.com upgraded Wolfspeed to a "sell" rating in a research note on Monday, January 6th. Canaccord Genuity Group cut their price target on Wolfspeed from $18.00 to $10.00 and set a "buy" rating for the company in a report on Thursday, January 30th. Susquehanna decreased their price objective on shares of Wolfspeed from $11.00 to $7.00 and set a "neutral" rating on the stock in a report on Wednesday, January 22nd. The Goldman Sachs Group cut their target price on shares of Wolfspeed from $17.00 to $15.00 and set a "buy" rating for the company in a research note on Thursday, January 30th. Finally, Bank of America reduced 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. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $14.86.

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.