SG Americas Securities LLC Has $681,000 Stock Position in Wolfspeed, Inc. (NYSE:WOLF)

SG Americas Securities LLC increased its stake in Wolfspeed, Inc. (NYSE:WOLF) by 74.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 102,285 shares of the company’s stock after buying an additional 43,536 shares during the quarter. SG Americas Securities LLC owned approximately 0.08% of Wolfspeed worth $681,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Eastern Bank acquired a new stake in Wolfspeed in the third quarter valued at $27,000. GAMMA Investing LLC raised its holdings in shares of Wolfspeed by 416.4% in the 3rd quarter. GAMMA Investing LLC now owns 4,544 shares of the company’s stock valued at $44,000 after purchasing an additional 3,664 shares during the period. Asset Management One Co. Ltd. lifted its stake in Wolfspeed by 69.0% in the 3rd quarter. Asset Management One Co. Ltd. now owns 7,067 shares of the company’s stock valued at $69,000 after purchasing an additional 2,885 shares during the last quarter. Sanctuary Advisors LLC bought a new position in Wolfspeed during the second quarter worth about $220,000. Finally, Arkadios Wealth Advisors acquired a new position in Wolfspeed during the fourth quarter worth approximately $67,000.

Wall Street Analyst Weigh In

Several brokerages have recently commented on WOLF. Canaccord Genuity Group reduced their target price on Wolfspeed from $18.00 to $10.00 and set a “buy” rating for the company in a research note on Thursday. Susquehanna reduced their price objective on shares of Wolfspeed from $11.00 to $7.00 and set a “neutral” rating for the company in a research report on Wednesday, January 22nd. StockNews.com upgraded shares of Wolfspeed to a “sell” rating in a report on Monday, January 6th. Morgan Stanley raised their target price on shares of Wolfspeed from $10.00 to $15.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Finally, Mizuho decreased their price target on shares of Wolfspeed from $10.00 to $6.00 and set an “underperform” rating on the stock in a research note on Tuesday, November 19th. Three investment 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $14.86.

Insider Activity

In other Wolfspeed news, Chairman Thomas H. Werner purchased 37,500 shares of the stock in a transaction dated Wednesday, November 20th. The stock was bought at an average price of $6.53 per share, with a total value of $244,875.00. Following the acquisition, the chairman now owns 108,549 shares of the company’s stock, valued at approximately $708,824.97. This represents a 52.78 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Darren R. Jackson acquired 36,975 shares of Wolfspeed stock in a transaction that occurred on Wednesday, November 20th. The stock was acquired at an average cost of $6.76 per share, for a total transaction of $249,951.00. Following the completion of the purchase, the director now directly owns 85,996 shares of the company’s stock, valued at $581,332.96. This represents a 75.43 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 78,067 shares of company stock worth $524,747. 0.84% of the stock is currently owned by corporate insiders.

Wolfspeed Trading Up 1.6 %

Shares of NYSE:WOLF opened at $6.10 on Friday. The company has a market capitalization of $778.39 million, a P/E ratio of -1.02 and a beta of 1.43. The company has a debt-to-equity ratio of 9.82, a current ratio of 3.14 and a quick ratio of 2.54. The business’s 50 day simple moving average is $7.49 and its 200 day simple moving average is $10.71. Wolfspeed, Inc. has a 1 year low of $4.66 and a 1 year high of $34.63.

Wolfspeed (NYSE:WOLF) last issued its quarterly earnings results on Wednesday, January 29th. The company reported ($1.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.90) by ($0.20). Wolfspeed had a negative return on equity of 49.86% and a negative net margin of 93.31%. On average, research analysts anticipate that Wolfspeed, Inc. will post -4.2 EPS for the current fiscal year.

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.