Erste Asset Management GmbH Has $5.77 Million Holdings in Wolfspeed, Inc. (NYSE:WOLF)

Erste Asset Management GmbH increased its holdings in shares of Wolfspeed, Inc. (NYSE:WOLF - Free Report) by 77.4% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 793,518 shares of the company's stock after purchasing an additional 346,319 shares during the period. Erste Asset Management GmbH owned 0.62% of Wolfspeed worth $5,773,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Allworth Financial LP grew its holdings in 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 purchasing an additional 1,949 shares during the period. KBC Group NV grew its holdings in Wolfspeed by 76.5% during the fourth quarter. KBC Group NV now owns 6,064 shares of the company's stock worth $40,000 after purchasing an additional 2,629 shares during the period. Steward Partners Investment Advisory LLC grew its holdings in Wolfspeed by 192.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,429 shares of the company's stock worth $29,000 after purchasing an additional 2,912 shares during the period. GAMMA Investing LLC grew its holdings in Wolfspeed by 66.6% during the fourth quarter. GAMMA Investing LLC now owns 7,569 shares of the company's stock worth $50,000 after purchasing an additional 3,025 shares during the period. Finally, New York State Teachers Retirement System grew its holdings in Wolfspeed by 2.4% during the fourth quarter. New York State Teachers Retirement System now owns 148,784 shares of the company's stock worth $991,000 after purchasing an additional 3,500 shares during the period.

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Analyst Ratings Changes

A number of brokerages have recently issued reports on WOLF. Bank of America reduced their price objective on 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 objective on Wolfspeed from $18.00 to $10.00 and set a "buy" rating for the company in a report on Thursday, January 30th. The Goldman Sachs Group reduced their price objective on Wolfspeed from $17.00 to $15.00 and set a "buy" rating for the company in a report on Thursday, January 30th. Mizuho reduced their price objective on Wolfspeed from $10.00 to $6.00 and set an "underperform" rating for the company in a report on Tuesday, November 19th. Finally, StockNews.com upgraded Wolfspeed to a "sell" rating in a report on Monday, January 6th. 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 company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $14.86.

Wolfspeed Price Performance

WOLF traded down $0.57 during trading on Tuesday, hitting $5.45. 10,819,337 shares of the stock traded hands, compared to its average volume of 20,278,125. Wolfspeed, Inc. has a twelve month low of $4.66 and a twelve month high of $30.86. The company has a market cap of $695.40 million, a price-to-earnings ratio of -0.71 and a beta of 1.50. 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 50 day moving average price of $5.90 and a 200 day moving average price of $8.33.

Wolfspeed (NYSE:WOLF - Get Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The company reported ($1.10) EPS for the quarter, missing the consensus estimate of ($0.90) by ($0.20). Wolfspeed had a negative net margin of 125.96% and a negative return on equity of 70.84%. Equities research analysts forecast 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.