Primecap Management Co. CA Cuts Holdings in Wolfspeed, Inc. $WOLF

Primecap Management Co. CA lowered its position in Wolfspeed, Inc. (NYSE:WOLF) by 8.9% in the second quarter, HoldingsChannel reports. The fund owned 6,075,113 shares of the company’s stock after selling 590,157 shares during the quarter. Primecap Management Co. CA’s holdings in Wolfspeed were worth $2,423,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. N.E.W. Advisory Services LLC purchased a new position in shares of Wolfspeed in the 1st quarter valued at about $28,000. MAI Capital Management grew its holdings in Wolfspeed by 894.9% in the first quarter. MAI Capital Management now owns 10,815 shares of the company’s stock valued at $33,000 after purchasing an additional 9,728 shares during the period. Twin Tree Management LP purchased a new stake in shares of Wolfspeed in the first quarter valued at approximately $42,000. Quarry LP raised its stake in shares of Wolfspeed by 490.0% during the 1st quarter. Quarry LP now owns 14,991 shares of the company’s stock worth $46,000 after buying an additional 12,450 shares during the period. Finally, Cladis Investment Advisory LLC acquired a new position in shares of Wolfspeed during the 1st quarter worth approximately $49,000.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Susquehanna boosted their price target on shares of Wolfspeed to $30.00 and gave the stock a “neutral” rating in a report on Wednesday, October 22nd. Wall Street Zen upgraded shares of Wolfspeed from a “sell” rating to a “hold” rating in a research report on Monday, November 3rd. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Wolfspeed in a research report on Saturday, September 27th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Wolfspeed has a consensus rating of “Reduce” and a consensus target price of $10.50.

Wolfspeed Trading Down 0.5%

Shares of NYSE WOLF opened at $17.43 on Friday. The stock has a market cap of $451.19 million and a PE ratio of -27.66. Wolfspeed, Inc. has a 12-month low of $8.05 and a 12-month high of $36.60. The company has a 50-day moving average of $20.37 and a 200 day moving average of $8.15.

Wolfspeed (NYSE:WOLF) last released its earnings results on Wednesday, October 29th. The company reported ($0.63) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.05. The business had revenue of $196.80 million during the quarter, compared to analysts’ expectations of $195.37 million. Wolfspeed has set its Q2 2026 guidance at EPS. On average, sell-side analysts forecast that Wolfspeed, Inc. will post -4 EPS for the current fiscal year.

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.