Cwm LLC Has $2.93 Million Holdings in Wolfspeed, Inc. (NYSE:WOLF)

Cwm LLC grew its stake in shares of Wolfspeed, Inc. (NYSE:WOLF) by 19.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 67,358 shares of the company’s stock after acquiring an additional 10,781 shares during the period. Cwm LLC’s holdings in Wolfspeed were worth $2,931,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Independence Bank of Kentucky lifted its position in Wolfspeed by 97.0% during the fourth quarter. Independence Bank of Kentucky now owns 711 shares of the company’s stock worth $31,000 after acquiring an additional 350 shares during the last quarter. Rakuten Securities Inc. acquired a new stake in Wolfspeed during the fourth quarter worth approximately $48,000. Aspire Private Capital LLC acquired a new stake in Wolfspeed during the third quarter worth approximately $76,000. Migdal Insurance & Financial Holdings Ltd. raised its position in shares of Wolfspeed by 26.9% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,205 shares of the company’s stock valued at $83,000 after buying an additional 468 shares in the last quarter. Finally, Banque Cantonale Vaudoise acquired a new stake in shares of Wolfspeed in the third quarter valued at approximately $126,000.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on WOLF shares. JPMorgan Chase & Co. dropped their price target on shares of Wolfspeed from $43.00 to $35.00 and set a “neutral” rating for the company in a research report on Thursday, April 11th. Mizuho started coverage on shares of Wolfspeed in a research report on Friday, April 5th. They issued a “neutral” rating and a $30.00 price target for the company. Wells Fargo & Company reiterated an “equal weight” rating and issued a $30.00 price target (down from $55.00) on shares of Wolfspeed in a research report on Wednesday, April 3rd. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Wolfspeed from $35.00 to $30.00 and set a “hold” rating for the company in a research report on Tuesday. Finally, Susquehanna dropped their price target on shares of Wolfspeed from $35.00 to $25.00 and set a “neutral” rating for the company in a research report on Tuesday. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $41.88.

Insiders Place Their Bets

In related news, Director Darren R. Jackson bought 10,000 shares of the firm’s stock in a transaction on Friday, February 2nd. The shares were purchased at an average price of $25.80 per share, with a total value of $258,000.00. Following the completion of the purchase, the director now owns 49,021 shares in the company, valued at approximately $1,264,741.80. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.85% of the company’s stock.

Wolfspeed Stock Up 8.4 %

Shares of WOLF opened at $24.47 on Thursday. The firm has a 50 day simple moving average of $26.71 and a two-hundred day simple moving average of $32.45. The company has a market cap of $3.08 billion, a P/E ratio of -4.02 and a beta of 1.66. Wolfspeed, Inc. has a one year low of $21.85 and a one year high of $70.42. The company has a debt-to-equity ratio of 4.50, a current ratio of 5.13 and a quick ratio of 4.58.

Wolfspeed (NYSE:WOLF) last posted its earnings results on Wednesday, January 31st. The company reported ($0.69) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.79) by $0.10. The firm had revenue of $208.40 million for the quarter, compared to analysts’ expectations of $205.94 million. Wolfspeed had a negative net margin of 87.35% and a negative return on equity of 19.35%. Research analysts forecast that Wolfspeed, Inc. will post -3.05 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.