XTX Topco Ltd Buys Shares of 19,931 Wolfspeed, Inc. (NYSE:WOLF)

XTX Topco Ltd bought a new stake in Wolfspeed, Inc. (NYSE:WOLF) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 19,931 shares of the company’s stock, valued at approximately $454,000.

Other large investors have also modified their holdings of the company. Seven Eight Capital LP raised its holdings in Wolfspeed by 82.2% during the second quarter. Seven Eight Capital LP now owns 229,498 shares of the company’s stock worth $5,223,000 after purchasing an additional 103,544 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its stake in shares of Wolfspeed by 32.7% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 15,665 shares of the company’s stock worth $353,000 after buying an additional 3,860 shares in the last quarter. Primecap Management Co. CA lifted its holdings in shares of Wolfspeed by 15.3% in the 2nd quarter. Primecap Management Co. CA now owns 6,045,310 shares of the company’s stock valued at $137,591,000 after buying an additional 800,540 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Wolfspeed by 30.5% in the second quarter. Dimensional Fund Advisors LP now owns 637,581 shares of the company’s stock valued at $14,513,000 after buying an additional 149,093 shares in the last quarter. Finally, Financial Perspectives Inc grew its holdings in Wolfspeed by 299.9% during the second quarter. Financial Perspectives Inc now owns 10,776 shares of the company’s stock worth $245,000 after acquiring an additional 8,081 shares during the period.

Wall Street Analysts Forecast Growth

A number of analysts have commented on WOLF shares. Morgan Stanley decreased their target price on Wolfspeed from $23.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 15th. TD Cowen decreased their price objective on shares of Wolfspeed from $25.00 to $15.00 and set a “hold” rating on the stock in a research report on Thursday, August 22nd. Deutsche Bank Aktiengesellschaft dropped 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. Susquehanna reduced their price target on shares of Wolfspeed from $23.00 to $16.00 and set a “neutral” rating on the stock in a report on Thursday, August 22nd. Finally, Piper Sandler dropped their price objective on shares of Wolfspeed from $35.00 to $20.00 and set an “overweight” rating for the company in a research note on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Wolfspeed has an average rating of “Hold” and an average price target of $24.53.

Wolfspeed Price Performance

Wolfspeed stock opened at $8.20 on Wednesday. The firm has a fifty day moving average of $13.01 and a 200-day moving average of $21.35. Wolfspeed, Inc. has a 52-week low of $7.28 and a 52-week high of $47.43. The company has a quick ratio of 3.85, a current ratio of 4.51 and a debt-to-equity ratio of 6.99. The firm has a market capitalization of $1.03 billion, a P/E ratio of -1.27 and a beta of 1.53.

Wolfspeed (NYSE:WOLF) last issued its quarterly earnings data on Wednesday, August 21st. The company reported ($1.06) EPS for the quarter, missing analysts’ consensus estimates of ($1.03) by ($0.03). Wolfspeed had a negative return on equity of 37.76% and a negative net margin of 107.93%. The company had revenue of $200.70 million for the quarter, compared to analyst estimates of $201.11 million. As a group, analysts predict that Wolfspeed, Inc. will post -3.84 EPS for the current 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.