Aster Capital Management DIFC Ltd Grows Stock Position in Wolfspeed, Inc. (NYSE:WOLF)

Aster Capital Management DIFC Ltd grew its position in shares of Wolfspeed, Inc. (NYSE:WOLF) by 78.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,355 shares of the company’s stock after purchasing an additional 4,563 shares during the period. Aster Capital Management DIFC Ltd’s holdings in Wolfspeed were worth $69,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Jones Financial Companies Lllp increased its stake in Wolfspeed by 1,240.6% during the 4th quarter. Jones Financial Companies Lllp now owns 3,834 shares of the company’s stock worth $26,000 after buying an additional 3,548 shares during the period. R Squared Ltd acquired a new stake in shares of Wolfspeed during the fourth quarter valued at about $28,000. Steward Partners Investment Advisory LLC increased its position in shares of Wolfspeed by 192.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,429 shares of the company’s stock worth $29,000 after acquiring an additional 2,912 shares during the last quarter. KBC Group NV lifted its stake in shares of Wolfspeed by 76.5% in the fourth quarter. KBC Group NV now owns 6,064 shares of the company’s stock worth $40,000 after acquiring an additional 2,629 shares in the last quarter. Finally, Allworth Financial LP boosted its holdings in Wolfspeed by 38.1% in the fourth quarter. Allworth Financial LP now owns 7,060 shares of the company’s stock valued at $44,000 after purchasing an additional 1,949 shares during the last quarter.

Wolfspeed Stock Down 14.5 %

Shares of Wolfspeed stock opened at $2.22 on Wednesday. The stock has a market capitalization of $282.88 million, a price-to-earnings ratio of -0.29 and a beta of 1.69. Wolfspeed, Inc. has a twelve month low of $2.15 and a twelve month high of $30.86. The company has a current ratio of 3.15, a quick ratio of 2.47 and a debt-to-equity ratio of 17.26. The business’s 50 day simple moving average is $5.25 and its 200-day simple moving average is $7.80.

Wolfspeed (NYSE:WOLF) last issued its earnings results on Wednesday, January 29th. The company reported ($1.10) earnings per share for the quarter, missing the consensus estimate of ($0.90) by ($0.20). Wolfspeed had a negative return on equity of 70.84% and a negative net margin of 125.96%. Equities research analysts forecast that Wolfspeed, Inc. will post -4 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Bank of America dropped their price objective on Wolfspeed from $9.50 to $6.00 and set an “underperform” rating on the stock in a report on Thursday, January 30th. StockNews.com upgraded shares of Wolfspeed to a “sell” rating in a research note on Monday, January 6th. Canaccord Genuity Group cut their price target on shares of Wolfspeed from $18.00 to $10.00 and set a “buy” rating on the stock in a report on Thursday, January 30th. Piper Sandler dropped their target price on shares of Wolfspeed from $18.00 to $10.00 and set an “overweight” rating for the company in a research report on Thursday, January 30th. Finally, The Goldman Sachs Group reduced their price target on shares of Wolfspeed from $15.00 to $8.00 and set a “buy” rating on the stock in a research report on Wednesday, April 2nd. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $13.15.

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.