Marshall Wace LLP Raises Stake in Wolfspeed, Inc. (NYSE:WOLF)

Marshall Wace LLP grew its position in Wolfspeed, Inc. (NYSE:WOLF) by 56.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 200,112 shares of the company’s stock after purchasing an additional 72,212 shares during the quarter. Marshall Wace LLP owned approximately 0.16% of Wolfspeed worth $4,555,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. TFO Wealth Partners LLC boosted its holdings in Wolfspeed by 57,400.0% in the 4th 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 period. Mather Group LLC. grew its holdings in Wolfspeed by 385.5% during the 2nd quarter. Mather Group LLC. now owns 1,175 shares of the company’s stock valued at $27,000 after buying an additional 933 shares in the last quarter. Signaturefd LLC raised its position in shares of Wolfspeed by 284.3% during the second quarter. Signaturefd LLC now owns 2,087 shares of the company’s stock valued at $48,000 after buying an additional 1,544 shares during the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of Wolfspeed by 64.8% in 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 in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Wolfspeed during the second quarter worth $75,000.

Wolfspeed Price Performance

WOLF stock opened at $8.89 on Wednesday. The stock has a market cap of $1.12 billion, a PE ratio of -1.38 and a beta of 1.52. Wolfspeed, Inc. has a 12 month low of $7.28 and a 12 month high of $47.43. The company has a 50-day moving average price of $11.73 and a 200 day moving average price of $20.71. The company has a current ratio of 4.51, a quick ratio of 3.85 and a debt-to-equity ratio of 6.99.

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

Wall Street Analyst Weigh In

A number of brokerages have issued reports on WOLF. Oppenheimer reiterated a “market perform” rating on shares of Wolfspeed in a report on Tuesday, July 9th. Morgan Stanley reduced their target price on Wolfspeed from $23.00 to $15.00 and set an “equal weight” rating on the stock in a report on Thursday, August 15th. TD Cowen dropped their price target on Wolfspeed from $25.00 to $15.00 and set a “hold” rating for the company in a research note on Thursday, August 22nd. New Street Research downgraded Wolfspeed from a “buy” rating to a “neutral” rating and set a $18.00 price objective on the stock. in a research note on Wednesday, August 7th. Finally, Mizuho decreased their price objective on Wolfspeed from $28.00 to $17.00 and set a “neutral” rating on the stock in a report on Thursday, August 22nd. 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, the company presently has an average rating of “Hold” and a consensus price target of $24.53.

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.