Charles Schwab Investment Management Inc. Buys 335,966 Shares of Wolfspeed, Inc. (NYSE:WOLF)

Charles Schwab Investment Management Inc. lifted its position in shares of Wolfspeed, Inc. (NYSE:WOLF - Free Report) by 38.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,207,157 shares of the company's stock after acquiring an additional 335,966 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.95% of Wolfspeed worth $8,040,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in WOLF. Jones Financial Companies Lllp grew its position in Wolfspeed by 1,240.6% in the fourth quarter. Jones Financial Companies Lllp now owns 3,834 shares of the company's stock valued at $26,000 after acquiring an additional 3,548 shares during the last quarter. R Squared Ltd bought a new stake in shares of Wolfspeed during the 4th quarter valued at approximately $28,000. Steward Partners Investment Advisory LLC grew its holdings in shares of Wolfspeed by 192.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,429 shares of the company's stock valued at $29,000 after purchasing an additional 2,912 shares during the last quarter. KBC Group NV boosted its position in Wolfspeed by 76.5% in the fourth quarter. KBC Group NV now owns 6,064 shares of the company's stock valued at $40,000 after buying an additional 2,629 shares in the last quarter. Finally, Allworth Financial LP grew its stake in shares of Wolfspeed by 38.1% during the fourth quarter. Allworth Financial LP now owns 7,060 shares of the company's stock worth $44,000 after buying an additional 1,949 shares during the last quarter.

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Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. The Goldman Sachs Group cut their price objective on Wolfspeed from $17.00 to $15.00 and set a "buy" rating on the stock in a report on Thursday, January 30th. Canaccord Genuity Group cut their price target on Wolfspeed from $18.00 to $10.00 and set a "buy" rating on the stock in a research note on Thursday, January 30th. Piper Sandler lowered their price objective on Wolfspeed from $18.00 to $10.00 and set an "overweight" rating for the company in a research note on Thursday, January 30th. Susquehanna cut their target price on shares of Wolfspeed from $11.00 to $7.00 and set a "neutral" rating on the stock in a research report on Wednesday, January 22nd. Finally, Bank of America dropped their price target on shares of Wolfspeed from $9.50 to $6.00 and set an "underperform" rating for the company in a research note on Thursday, January 30th. Three 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 company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $14.86.

Wolfspeed Stock Down 1.8 %

WOLF traded down $0.12 during midday trading on Tuesday, hitting $6.30. The company had a trading volume of 9,189,148 shares, compared to its average volume of 10,784,405. The company has a market capitalization of $803.95 million, a price-to-earnings ratio of -0.82 and a beta of 1.50. The stock's 50 day moving average price is $5.91 and its 200 day moving average price is $8.20. The company has a quick ratio of 2.47, a current ratio of 3.15 and a debt-to-equity ratio of 17.26. Wolfspeed, Inc. has a 52 week low of $4.66 and a 52 week high of $30.86.

Wolfspeed (NYSE:WOLF - Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The company reported ($1.10) EPS for the quarter, missing analysts' consensus estimates of ($0.90) by ($0.20). Wolfspeed had a negative net margin of 125.96% and a negative return on equity of 70.84%. On average, research analysts anticipate that Wolfspeed, Inc. will post -4 earnings per share for the current fiscal year.

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.