Wolfspeed, Inc. (NYSE:WOLF) Shares Sold by Everett Harris & Co. CA

Everett Harris & Co. CA lessened its holdings in Wolfspeed, Inc. (NYSE:WOLF) by 50.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 5,000 shares of the company’s stock after selling 5,000 shares during the period. Everett Harris & Co. CA’s holdings in Wolfspeed were worth $218,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of WOLF. First Manhattan CO. LLC. acquired a new stake in shares of Wolfspeed during the 1st quarter worth approximately $39,000. Penserra Capital Management LLC acquired a new stake in shares of Wolfspeed during the 4th quarter worth approximately $43,000. Aspire Private Capital LLC acquired a new stake in shares of Wolfspeed during the 3rd quarter worth approximately $76,000. IFP Advisors Inc grew its stake in shares of Wolfspeed by 213.7% during the 2nd quarter. IFP Advisors Inc now owns 1,468 shares of the company’s stock worth $82,000 after purchasing an additional 1,000 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of Wolfspeed by 26.9% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,205 shares of the company’s stock worth $83,000 after purchasing an additional 468 shares during the period.

Insider Buying and Selling at Wolfspeed

In related news, Director Darren R. Jackson purchased 10,000 shares of Wolfspeed stock in a transaction dated Friday, February 2nd. The shares were acquired at an average price of $25.80 per share, for a total transaction of $258,000.00. Following the acquisition, the director now directly owns 49,021 shares in the company, valued at $1,264,741.80. The purchase was disclosed in a filing with the SEC, which is available through this link. 0.62% of the stock is currently owned by insiders.

Wolfspeed Price Performance

WOLF stock traded up $0.92 during midday trading on Thursday, reaching $29.50. The stock had a trading volume of 3,328,822 shares, compared to its average volume of 4,806,782. The company’s fifty day simple moving average is $28.44 and its 200 day simple moving average is $34.16. The company has a current ratio of 5.13, a quick ratio of 4.58 and a debt-to-equity ratio of 4.50. The company has a market cap of $3.71 billion, a price-to-earnings ratio of -4.83 and a beta of 1.65. Wolfspeed, Inc. has a 52-week low of $23.54 and a 52-week high of $70.42.

Wolfspeed (NYSE:WOLF) last announced its quarterly earnings data on Wednesday, January 31st. The company reported ($0.69) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.79) by $0.10. The company had revenue of $208.40 million for the quarter, compared to analyst estimates of $205.94 million. Wolfspeed had a negative return on equity of 19.35% and a negative net margin of 87.35%. As a group, sell-side analysts predict that Wolfspeed, Inc. will post -3.05 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Piper Sandler dropped their price objective on shares of Wolfspeed from $55.00 to $45.00 and set an “overweight” rating on the stock in a research note on Thursday, February 1st. JPMorgan Chase & Co. dropped their price objective on shares of Wolfspeed from $44.00 to $43.00 and set a “neutral” rating on the stock in a research note on Thursday, February 1st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $46.40.

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.