Wolfspeed, Inc. (NYSE:WOLF) Stock Position Decreased by Nomura Holdings Inc.

Nomura Holdings Inc. trimmed its position in shares of Wolfspeed, Inc. (NYSE:WOLF) by 8.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 29,878 shares of the company’s stock after selling 2,893 shares during the period. Nomura Holdings Inc.’s holdings in Wolfspeed were worth $1,300,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of WOLF. Norges Bank acquired a new position in Wolfspeed during the 4th quarter valued at about $308,701,000. FengHe Fund Management Pte. Ltd. boosted its stake in Wolfspeed by 438.9% during the 4th quarter. FengHe Fund Management Pte. Ltd. now owns 1,431,200 shares of the company’s stock valued at $62,272,000 after purchasing an additional 1,165,600 shares during the period. JANA Partners Management LP acquired a new position in Wolfspeed during the 3rd quarter valued at about $35,662,000. Cibc World Markets Corp acquired a new position in Wolfspeed during the 4th quarter valued at about $34,808,000. Finally, Polar Capital Holdings Plc acquired a new stake in shares of Wolfspeed in the 3rd quarter worth approximately $16,200,000.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Roth Mkm reaffirmed a “buy” rating and issued a $50.00 price target on shares of Wolfspeed in a research note on Tuesday, April 30th. JPMorgan Chase & Co. reduced their price target on shares of Wolfspeed from $43.00 to $35.00 and set a “neutral” rating for the company in a research note on Thursday, April 11th. Susquehanna reduced their price target on shares of Wolfspeed from $25.00 to $23.00 and set a “neutral” rating for the company in a research note on Thursday, May 2nd. Citigroup reduced their price target on shares of Wolfspeed from $29.00 to $25.00 and set a “neutral” rating for the company in a research note on Thursday, May 2nd. Finally, TD Cowen lowered shares of Wolfspeed from a “buy” rating to a “hold” rating and reduced their price target for the stock from $40.00 to $25.00 in a research note on Thursday, May 2nd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Wolfspeed presently has an average rating of “Hold” and a consensus price target of $36.36.

Wolfspeed Stock Down 4.0 %

WOLF stock opened at $26.00 on Thursday. Wolfspeed, Inc. has a 52-week low of $20.63 and a 52-week high of $70.42. The company’s 50 day simple moving average is $25.98 and its 200-day simple moving average is $30.36. The company has a debt-to-equity ratio of 5.55, a current ratio of 4.58 and a quick ratio of 4.00. The firm has a market capitalization of $3.27 billion, a P/E ratio of -4.02 and a beta of 1.60.

Wolfspeed (NYSE:WOLF) last released its quarterly earnings results on Wednesday, May 1st. The company reported ($0.79) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.82) by $0.03. Wolfspeed had a negative net margin of 96.12% and a negative return on equity of 27.37%. The business had revenue of $200.70 million for the quarter, compared to analyst estimates of $201.49 million. As a group, equities research analysts anticipate that Wolfspeed, Inc. will post -3.13 EPS for the current year.

Insider Activity

In related news, Director Marvin Riley acquired 1,866 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were purchased at an average price of $27.05 per share, for a total transaction of $50,475.30. Following the purchase, the director now owns 13,297 shares in the company, valued at $359,683.85. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.85% of the stock is owned by company insiders.

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.