US Bancorp DE Cuts Holdings in Wolfspeed, Inc. (NYSE:WOLF)

US Bancorp DE trimmed its position in Wolfspeed, Inc. (NYSE:WOLF) by 38.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,932 shares of the company’s stock after selling 4,411 shares during the quarter. US Bancorp DE’s holdings in Wolfspeed were worth $46,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in WOLF. South Dakota Investment Council grew its holdings in shares of Wolfspeed by 26.4% in the fourth quarter. South Dakota Investment Council now owns 717,482 shares of the company’s stock valued at $4,778,000 after purchasing an additional 149,648 shares in the last quarter. Public Sector Pension Investment Board purchased a new position in shares of Wolfspeed in the 3rd quarter worth $2,590,000. Primecap Management Co. CA increased its holdings in shares of Wolfspeed by 5.0% in the 3rd quarter. Primecap Management Co. CA now owns 6,349,180 shares of the company’s stock worth $61,587,000 after buying an additional 303,870 shares during the last quarter. Principal Financial Group Inc. raised its position in Wolfspeed by 41.4% during the third quarter. Principal Financial Group Inc. now owns 592,599 shares of the company’s stock valued at $5,748,000 after purchasing an additional 173,409 shares during the period. Finally, Thrivent Financial for Lutherans lifted its stake in shares of Wolfspeed by 225.0% in the 3rd quarter. Thrivent Financial for Lutherans now owns 98,832 shares of the company’s stock valued at $959,000 after purchasing an additional 68,423 shares during the last quarter.

Wolfspeed Price Performance

Shares of NYSE WOLF opened at $5.45 on Wednesday. Wolfspeed, Inc. has a fifty-two week low of $4.66 and a fifty-two week high of $30.86. The company has a market cap of $695.40 million, a PE ratio of -0.71 and a beta of 1.50. The company has a debt-to-equity ratio of 17.26, a quick ratio of 2.47 and a current ratio of 3.15. The business has a 50-day simple moving average of $5.86 and a two-hundred day simple moving average of $8.29.

Wolfspeed (NYSE:WOLF) last issued its earnings results 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 return on equity of 70.84% and a negative net margin of 125.96%. As a group, equities analysts expect that Wolfspeed, Inc. will post -4 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on WOLF shares. StockNews.com raised shares of Wolfspeed to a “sell” rating in a research note on Monday, January 6th. Mizuho reduced their target price on shares of Wolfspeed from $10.00 to $6.00 and set an “underperform” rating on the stock in a research report on Tuesday, November 19th. Piper Sandler lowered their target price on Wolfspeed from $18.00 to $10.00 and set an “overweight” rating for the company in a report on Thursday, January 30th. Susquehanna cut their price target on Wolfspeed from $11.00 to $7.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 22nd. Finally, Bank of America decreased their price objective on Wolfspeed from $9.50 to $6.00 and set an “underperform” rating for the company in a report on Thursday, January 30th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Wolfspeed has a consensus rating of “Hold” and an average price target of $14.86.

Wolfspeed 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.