Primecap Management Co. CA grew its stake in shares of Wolfspeed, Inc. (NYSE:WOLF - Free Report) by 2.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,519,164 shares of the company's stock after acquiring an additional 169,984 shares during the quarter. Primecap Management Co. CA owned about 5.10% of Wolfspeed worth $43,418,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in the stock. Monaco Asset Management SAM purchased a new stake in shares of Wolfspeed during the 4th quarter valued at about $999,000. Commonwealth Equity Services LLC boosted its holdings in shares of Wolfspeed by 170.2% during the 4th quarter. Commonwealth Equity Services LLC now owns 36,757 shares of the company's stock valued at $245,000 after acquiring an additional 23,154 shares during the last quarter. Erste Asset Management GmbH boosted its holdings in shares of Wolfspeed by 77.4% during the 4th quarter. Erste Asset Management GmbH now owns 793,518 shares of the company's stock valued at $5,773,000 after acquiring an additional 346,319 shares during the last quarter. Prosperity Wealth Management Inc. bought a new position in shares of Wolfspeed in the 4th quarter worth approximately $132,000. Finally, Independent Advisor Alliance bought a new position in shares of Wolfspeed in the 4th quarter worth approximately $67,000.
Wolfspeed Price Performance
WOLF traded up $0.56 during trading on Friday, reaching $6.30. 27,163,576 shares of the company traded hands, compared to its average volume of 10,704,157. 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, Inc. has a 12-month low of $4.66 and a 12-month high of $30.86. The firm has a fifty day simple moving average of $5.88 and a 200 day simple moving average of $8.24. The company has a market cap of $803.95 million, a P/E ratio of -0.82 and a beta of 1.50.
Wolfspeed (NYSE:WOLF - Get Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The company reported ($1.10) earnings per share (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, equities analysts forecast that Wolfspeed, Inc. will post -4 EPS for the current year.
Wall Street Analysts Forecast Growth
Several brokerages have recently weighed in on WOLF. Bank of America lowered their price objective on shares of Wolfspeed from $9.50 to $6.00 and set an "underperform" rating on the stock in a research note on Thursday, January 30th. Canaccord Genuity Group lowered their price objective on shares of Wolfspeed from $18.00 to $10.00 and set a "buy" rating on the stock in a research note on Thursday, January 30th. Susquehanna lowered their price objective on shares of Wolfspeed from $11.00 to $7.00 and set a "neutral" rating on the stock in a research note on Wednesday, January 22nd. The Goldman Sachs Group lowered their price objective on shares of Wolfspeed from $17.00 to $15.00 and set a "buy" rating on the stock in a research note on Thursday, January 30th. Finally, Piper Sandler lowered their price objective on shares of Wolfspeed from $18.00 to $10.00 and set an "overweight" rating on the stock in a research note on Thursday, January 30th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Wolfspeed currently has an average rating of "Hold" and an average target price of $14.86.
View Our Latest Stock Report on Wolfspeed
Wolfspeed Company Profile
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Free Report)
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.
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