Vontobel Holding Ltd. Buys 1,835 Shares of Wolfspeed, Inc. (NYSE:WOLF)

Vontobel Holding Ltd. grew its holdings in Wolfspeed, Inc. (NYSE:WOLF) by 5.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 37,565 shares of the company’s stock after acquiring an additional 1,835 shares during the quarter. Vontobel Holding Ltd.’s holdings in Wolfspeed were worth $364,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of WOLF. Creative Planning bought a new position in Wolfspeed in the third quarter worth $224,000. Inspire Investing LLC raised its stake in Wolfspeed by 178.3% during the third quarter. Inspire Investing LLC now owns 42,906 shares of the company’s stock worth $416,000 after acquiring an additional 27,487 shares in the last quarter. Green Alpha Advisors LLC increased its stake in shares of Wolfspeed by 45.2% in the third quarter. Green Alpha Advisors LLC now owns 34,368 shares of the company’s stock valued at $333,000 after buying an additional 10,695 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Wolfspeed by 416.4% in the third quarter. GAMMA Investing LLC now owns 4,544 shares of the company’s stock valued at $44,000 after buying an additional 3,664 shares in the last quarter. Finally, SG Americas Securities LLC increased its stake in shares of Wolfspeed by 231.8% in the third quarter. SG Americas Securities LLC now owns 58,749 shares of the company’s stock valued at $570,000 after buying an additional 41,041 shares in the last quarter.

Wall Street Analysts Forecast Growth

WOLF has been the subject of a number of research reports. TD Cowen lowered their price objective on Wolfspeed from $25.00 to $15.00 and set a “hold” rating for the company in a research report on Thursday, August 22nd. Oppenheimer reiterated a “market perform” rating on shares of Wolfspeed in a report on Tuesday, July 9th. Bank of America cut their price objective on Wolfspeed from $25.00 to $15.00 and set an “underperform” rating on the stock in a report on Friday, August 23rd. Mizuho cut Wolfspeed from a “neutral” rating to an “underperform” rating and cut their target price for the company from $17.00 to $8.00 in a research note on Thursday, October 3rd. Finally, Canaccord Genuity Group reduced their price target on Wolfspeed from $45.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $22.43.

Wolfspeed Stock Up 0.1 %

WOLF opened at $15.41 on Wednesday. The company has a current ratio of 4.51, a quick ratio of 3.85 and a debt-to-equity ratio of 6.99. The stock has a market cap of $1.94 billion, a PE ratio of -2.47 and a beta of 1.52. The stock’s fifty day simple moving average is $10.55 and its 200 day simple moving average is $19.16. Wolfspeed, Inc. has a 1-year low of $7.28 and a 1-year high of $47.43.

Wolfspeed (NYSE:WOLF) last released 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). The company had revenue of $200.70 million for the quarter, compared to analyst estimates of $201.11 million. Wolfspeed had a negative return on equity of 37.76% and a negative net margin of 107.93%. As a group, research analysts expect that Wolfspeed, Inc. will post -3.84 earnings per share for the current year.

Wolfspeed Company 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.