Inspire Investing LLC Has $351,000 Stock Holdings in Wolfspeed, Inc. (NYSE:WOLF)

Inspire Investing LLC boosted its holdings in shares of Wolfspeed, Inc. (NYSE:WOLF) by 26.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,419 shares of the company’s stock after buying an additional 3,230 shares during the period. Inspire Investing LLC’s holdings in Wolfspeed were worth $351,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of WOLF. TFO Wealth Partners LLC raised its holdings in Wolfspeed by 57,400.0% during the fourth quarter. TFO Wealth Partners LLC now owns 575 shares of the company’s stock worth $25,000 after buying an additional 574 shares during the last quarter. Mather Group LLC. raised its holdings in Wolfspeed by 385.5% during the second quarter. Mather Group LLC. now owns 1,175 shares of the company’s stock worth $27,000 after buying an additional 933 shares during the last quarter. Signaturefd LLC raised its holdings in Wolfspeed by 284.3% during the second quarter. Signaturefd LLC now owns 2,087 shares of the company’s stock worth $48,000 after buying an additional 1,544 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in Wolfspeed by 64.8% during the first quarter. Advisors Asset Management Inc. now owns 1,757 shares of the company’s stock worth $52,000 after buying an additional 691 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in Wolfspeed during the second quarter worth $75,000.

Wolfspeed Price Performance

WOLF opened at $8.12 on Tuesday. The company has a debt-to-equity ratio of 6.99, a quick ratio of 3.85 and a current ratio of 4.51. The firm has a market cap of $1.02 billion, a P/E ratio of -1.26 and a beta of 1.52. Wolfspeed, Inc. has a fifty-two week low of $7.28 and a fifty-two week high of $47.43. The firm has a 50-day moving average of $13.34 and a 200 day moving average of $21.49.

Wolfspeed (NYSE:WOLF) last issued its earnings results on Wednesday, August 21st. The company reported ($1.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.03) by ($0.03). The business had revenue of $200.70 million for the quarter, compared to the consensus estimate of $201.11 million. Wolfspeed had a negative return on equity of 37.76% and a negative net margin of 107.93%. On average, research analysts expect that Wolfspeed, Inc. will post -3.84 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on WOLF shares. Bank of America lowered their target price on shares of Wolfspeed from $25.00 to $15.00 and set an “underperform” rating for the company in a report on Friday, August 23rd. Morgan Stanley lowered their target price on shares of Wolfspeed from $23.00 to $15.00 and set an “equal weight” rating for the company in a report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Wolfspeed from $17.00 to $14.00 and set a “hold” rating for the company in a report on Thursday, August 22nd. Canaccord Genuity Group lowered their target price on shares of Wolfspeed from $45.00 to $25.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Finally, Oppenheimer reiterated a “market perform” rating on shares of Wolfspeed in a report on Tuesday, July 9th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Wolfspeed currently has a consensus rating of “Hold” and an average target price of $24.53.

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.