DRW Securities LLC Buys Shares of 11,394 Wolfspeed, Inc. (NYSE:WOLF)

DRW Securities LLC purchased a new position in Wolfspeed, Inc. (NYSE:WOLF) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 11,394 shares of the company’s stock, valued at approximately $76,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of WOLF. Jones Financial Companies Lllp lifted its holdings in Wolfspeed by 1,240.6% during the fourth 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 purchased a new stake in shares of Wolfspeed during the 4th quarter worth $28,000. Steward Partners Investment Advisory LLC boosted its position in Wolfspeed by 192.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,429 shares of the company’s stock valued at $29,000 after purchasing an additional 2,912 shares in the last quarter. KBC Group NV boosted its position in Wolfspeed by 76.5% during the fourth quarter. KBC Group NV now owns 6,064 shares of the company’s stock valued at $40,000 after purchasing an additional 2,629 shares in the last quarter. Finally, Allworth Financial LP raised its holdings in Wolfspeed by 38.1% in the fourth quarter. Allworth Financial LP now owns 7,060 shares of the company’s stock worth $44,000 after purchasing an additional 1,949 shares in the last quarter.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on WOLF shares. The Goldman Sachs Group lowered their price target on shares of Wolfspeed from $15.00 to $8.00 and set a “buy” rating on the stock in a report on Wednesday, April 2nd. Susquehanna lowered their target price on shares of Wolfspeed from $11.00 to $7.00 and set a “neutral” rating for the company in a research note on Wednesday, January 22nd. Canaccord Genuity Group reduced their price target on Wolfspeed from $18.00 to $10.00 and set a “buy” rating on the stock in a research report on Thursday, January 30th. StockNews.com raised Wolfspeed to a “sell” rating in a research report on Monday, January 6th. Finally, Bank of America reduced their target price on Wolfspeed from $9.50 to $6.00 and set an “underperform” rating on the stock in a research report on Thursday, January 30th. Three equities research 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 data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $13.15.

Wolfspeed Trading Up 0.2 %

Wolfspeed stock opened at $2.17 on Friday. Wolfspeed, Inc. has a 52 week low of $2.06 and a 52 week high of $30.86. The stock has a 50-day moving average price of $4.96 and a 200 day moving average price of $7.64. The company has a quick ratio of 2.47, a current ratio of 3.15 and a debt-to-equity ratio of 17.26. The company has a market capitalization of $276.50 million, a price-to-earnings ratio of -0.28 and a beta of 1.69.

Wolfspeed (NYSE:WOLF) last released its quarterly earnings data on Wednesday, January 29th. The company reported ($1.10) EPS for the quarter, missing the consensus estimate of ($0.90) by ($0.20). Wolfspeed had a negative net margin of 125.96% and a negative return on equity of 70.84%. Sell-side analysts anticipate that Wolfspeed, Inc. will post -4 EPS for the current year.

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.