Semanteon Capital Management LP Has $1.19 Million Stock Position in Wolfspeed, Inc. (NYSE:WOLF)

Semanteon Capital Management LP boosted its stake in shares of Wolfspeed, Inc. (NYSE:WOLF - Free Report) by 136.6% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 122,444 shares of the company's stock after purchasing an additional 70,699 shares during the period. Wolfspeed comprises approximately 0.8% of Semanteon Capital Management LP's holdings, making the stock its 22nd largest position. Semanteon Capital Management LP owned approximately 0.10% of Wolfspeed worth $1,188,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Mather Group LLC. increased its stake in shares of Wolfspeed by 385.5% in the second quarter. Mather Group LLC. now owns 1,175 shares of the company's stock worth $27,000 after purchasing an additional 933 shares during the period. Eastern Bank acquired a new position in shares of Wolfspeed during the third quarter worth approximately $27,000. GAMMA Investing LLC boosted its position in shares of Wolfspeed by 416.4% in the third quarter. GAMMA Investing LLC now owns 4,544 shares of the company's stock valued at $44,000 after acquiring an additional 3,664 shares during the period. Signaturefd LLC grew its stake in shares of Wolfspeed by 284.3% in the second quarter. Signaturefd LLC now owns 2,087 shares of the company's stock worth $48,000 after acquiring an additional 1,544 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its position in Wolfspeed by 64.8% during the first quarter. Advisors Asset Management Inc. now owns 1,757 shares of the company's stock worth $52,000 after acquiring an additional 691 shares during the period.

Wolfspeed Price Performance

Wolfspeed stock traded up $0.49 on Monday, reaching $15.35. The company's stock had a trading volume of 7,821,921 shares, compared to its average volume of 6,399,561. The business's fifty day moving average price is $10.81 and its 200 day moving average price is $18.72. The company has a debt-to-equity ratio of 6.99, a quick ratio of 3.85 and a current ratio of 4.51. The company has a market cap of $1.93 billion, a price-to-earnings ratio of -2.38 and a beta of 1.52. Wolfspeed, Inc. has a twelve month low of $7.28 and a twelve month high of $47.43.

Wolfspeed (NYSE:WOLF - Get Free Report) last posted its quarterly earnings data on Wednesday, August 21st. The company reported ($1.06) earnings per share for the quarter, missing the consensus estimate of ($1.03) by ($0.03). Wolfspeed had a negative net margin of 107.93% and a negative return on equity of 37.76%. The company had revenue of $200.70 million during the quarter, compared to analyst estimates of $201.11 million. Equities analysts expect that Wolfspeed, Inc. will post -3.84 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on WOLF. The Goldman Sachs Group reduced their price target on shares of Wolfspeed from $48.00 to $28.00 and set a "buy" rating for the company in a report on Thursday, August 22nd. Canaccord Genuity Group decreased their target price on Wolfspeed from $45.00 to $25.00 and set a "buy" rating on the stock in a research report on Thursday, August 29th. Deutsche Bank Aktiengesellschaft cut their price target on Wolfspeed from $17.00 to $14.00 and set a "hold" rating for the company in a report on Thursday, August 22nd. Morgan Stanley lifted their price objective on Wolfspeed from $10.00 to $15.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 16th. Finally, Oppenheimer restated a "market perform" rating on shares of Wolfspeed in a research note on Tuesday, July 9th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Wolfspeed has a consensus rating of "Hold" and an average price target of $22.43.

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.