PFS Investments Inc. increased its stake in shares of Wolfspeed, Inc. (NYSE:WOLF – Get Rating) by 4.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 61,839 shares of the company’s stock after purchasing an additional 2,702 shares during the period. PFS Investments Inc. owned 0.05% of Wolfspeed worth $7,041,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of WOLF. Essex Investment Management Co. LLC acquired a new position in Wolfspeed in the 4th quarter valued at $5,511,000. Amalgamated Bank acquired a new position in Wolfspeed in the 4th quarter valued at $9,292,000. Rothschild Investment Corp IL raised its holdings in Wolfspeed by 2.5% in the 1st quarter. Rothschild Investment Corp IL now owns 12,400 shares of the company’s stock valued at $1,412,000 after acquiring an additional 300 shares during the last quarter. Icon Wealth Partners LLC raised its holdings in Wolfspeed by 7.5% in the 1st quarter. Icon Wealth Partners LLC now owns 3,195 shares of the company’s stock valued at $364,000 after acquiring an additional 224 shares during the last quarter. Finally, SG Americas Securities LLC grew its stake in shares of Wolfspeed by 54.1% during the 1st quarter. SG Americas Securities LLC now owns 16,627 shares of the company’s stock valued at $1,893,000 after buying an additional 5,840 shares during the period.
Wall Street Analyst Weigh In
Several analysts have recently issued reports on the stock. Oppenheimer boosted their price objective on shares of Wolfspeed from $105.00 to $120.00 and gave the company an “outperform” rating in a research note on Thursday, August 18th. Morgan Stanley boosted their price objective on shares of Wolfspeed from $101.00 to $106.00 and gave the company an “equal weight” rating in a research note on Thursday, August 18th. Wells Fargo & Company boosted their price objective on shares of Wolfspeed from $100.00 to $125.00 in a research note on Thursday, August 18th. StockNews.com raised shares of Wolfspeed to a “sell” rating in a research note on Friday, July 22nd. Finally, Cowen boosted their price objective on shares of Wolfspeed from $100.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, August 18th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, Wolfspeed presently has a consensus rating of “Moderate Buy” and a consensus price target of $118.75.
Wolfspeed Stock Performance
NYSE:WOLF opened at $114.21 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 4.54 and a quick ratio of 3.95. The firm has a 50-day moving average of $94.07 and a two-hundred day moving average of $78.33. The stock has a market cap of $14.17 billion, a P/E ratio of -67.18 and a beta of 1.58. Wolfspeed, Inc. has a 1-year low of $58.07 and a 1-year high of $142.33.
Wolfspeed (NYSE:WOLF – Get Rating) last issued its earnings results on Wednesday, August 17th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.08. The business had revenue of $228.50 million for the quarter, compared to analyst estimates of $207.58 million. Wolfspeed had a negative net margin of 26.92% and a negative return on equity of 4.93%. The company’s revenue for the quarter was up 56.7% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.34) EPS. On average, research analysts expect that Wolfspeed, Inc. will post -0.49 earnings per share for the current fiscal year.
Wolfspeed Company Profile
Wolfspeed, Inc provides silicon carbide and gallium nitride (GaN) materials, power devices, and radio frequency (RF) devices based on wide bandgap semiconductor materials and silicon. The company's silicon carbide and GaN materials comprise silicon carbide bare wafers, epitaxial wafers, and GaN epitaxial layers on silicon carbide wafers.
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