SG Americas Securities LLC Purchases 43,536 Shares of Wolfspeed, Inc. (NYSE:WOLF)

SG Americas Securities LLC lifted its position in shares of Wolfspeed, Inc. (NYSE:WOLF - Free Report) by 74.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 102,285 shares of the company's stock after purchasing an additional 43,536 shares during the period. SG Americas Securities LLC owned about 0.08% of Wolfspeed worth $681,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in WOLF. Eastern Bank acquired a new position in shares of Wolfspeed in the third quarter worth approximately $27,000. GAMMA Investing LLC grew its stake in Wolfspeed by 416.4% during the third quarter. GAMMA Investing LLC now owns 4,544 shares of the company's stock worth $44,000 after purchasing an additional 3,664 shares during the period. Arkadios Wealth Advisors acquired a new stake in Wolfspeed during the fourth quarter worth approximately $67,000. Asset Management One Co. Ltd. boosted its stake in Wolfspeed by 69.0% during the third quarter. Asset Management One Co. Ltd. now owns 7,067 shares of the company's stock worth $69,000 after acquiring an additional 2,885 shares in the last quarter. Finally, Ground Swell Capital LLC acquired a new position in shares of Wolfspeed during the third quarter valued at about $99,000.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Morgan Stanley raised their price objective on Wolfspeed from $10.00 to $15.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 16th. Susquehanna reduced their target price on shares of Wolfspeed from $11.00 to $7.00 and set a "neutral" rating for the company in a research note on Wednesday, January 22nd. Bank of America dropped their price target on shares of Wolfspeed from $9.50 to $6.00 and set an "underperform" rating on the stock in a research report on Thursday. JPMorgan Chase & Co. decreased their price objective on shares of Wolfspeed from $20.00 to $17.00 and set a "neutral" rating for the company in a research note on Thursday, November 7th. Finally, The Goldman Sachs Group decreased their price target on Wolfspeed from $17.00 to $15.00 and set a "buy" rating for the company in a research report on Thursday. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $14.86.

Wolfspeed Price Performance

WOLF stock traded up $0.02 during midday trading on Friday, reaching $6.11. The company had a trading volume of 27,512,456 shares, compared to its average volume of 16,988,954. The firm has a 50-day moving average price of $7.44 and a 200-day moving average price of $10.39. The company has a market capitalization of $779.92 million, a P/E ratio of -0.80 and a beta of 1.43. Wolfspeed, Inc. has a 1 year low of $4.66 and a 1 year high of $34.63. The company has a debt-to-equity ratio of 9.82, a current ratio of 3.14 and a quick ratio of 2.54.

Wolfspeed (NYSE:WOLF - Get Free Report) last released 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 net margin of 125.96% and a negative return on equity of 60.94%. On average, research analysts anticipate that Wolfspeed, Inc. will post -4.2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Darren R. Jackson bought 36,975 shares of the company's stock in a transaction that occurred on Wednesday, November 20th. The stock was bought at an average cost of $6.76 per share, for a total transaction of $249,951.00. Following the acquisition, the director now directly owns 85,996 shares of the company's stock, valued at $581,332.96. The trade was a 75.43 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Thomas H. Werner purchased 37,500 shares of Wolfspeed stock in a transaction that occurred on Wednesday, November 20th. The shares were bought at an average price of $6.53 per share, for a total transaction of $244,875.00. Following the completion of the transaction, the chairman now owns 108,549 shares in the company, valued at $708,824.97. The trade was a 52.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 78,067 shares of company stock valued at $524,747 over the last quarter. 0.84% of the stock is owned by corporate insiders.

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.