Vontobel Holding Ltd. Has $437,000 Stock Holdings in Wolfspeed, Inc. (NYSE:WOLF)

Vontobel Holding Ltd. grew its holdings in shares of Wolfspeed, Inc. (NYSE:WOLF) by 74.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 65,578 shares of the company’s stock after buying an additional 28,013 shares during the quarter. Vontobel Holding Ltd. owned 0.05% of Wolfspeed worth $437,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Iridian Asset Management LLC CT grew its holdings in shares of Wolfspeed by 319.9% during the third quarter. Iridian Asset Management LLC CT now owns 521,158 shares of the company’s stock valued at $5,055,000 after buying an additional 397,057 shares during the last quarter. Public Sector Pension Investment Board acquired a new position in shares of Wolfspeed during the third quarter valued at about $2,590,000. Primecap Management Co. CA grew its holdings in shares of Wolfspeed by 5.0% during the third quarter. Primecap Management Co. CA now owns 6,349,180 shares of the company’s stock valued at $61,587,000 after buying an additional 303,870 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Wolfspeed by 41.4% during the third quarter. Principal Financial Group Inc. now owns 592,599 shares of the company’s stock valued at $5,748,000 after buying an additional 173,409 shares during the last quarter. Finally, Thrivent Financial for Lutherans grew its holdings in shares of Wolfspeed by 225.0% during the third quarter. Thrivent Financial for Lutherans now owns 98,832 shares of the company’s stock valued at $959,000 after buying an additional 68,423 shares during the last quarter.

Wolfspeed Stock Performance

Shares of WOLF stock opened at $7.52 on Friday. The firm has a market cap of $959.74 million, a price-to-earnings ratio of -0.98 and a beta of 1.43. The company has a debt-to-equity ratio of 17.26, a quick ratio of 2.47 and a current ratio of 3.15. Wolfspeed, Inc. has a 52 week low of $4.66 and a 52 week high of $30.86. The firm’s 50-day simple moving average is $6.47 and its two-hundred day simple moving average is $9.23.

Wolfspeed (NYSE:WOLF) last posted its quarterly earnings results on Wednesday, January 29th. The company reported ($1.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.90) by ($0.20). Wolfspeed had a negative net margin of 125.96% and a negative return on equity of 70.84%. As a group, equities analysts forecast that Wolfspeed, Inc. will post -4 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on WOLF. The Goldman Sachs Group reduced their price objective on shares of Wolfspeed from $17.00 to $15.00 and set a “buy” rating for the company in a report on Thursday, January 30th. Mizuho dropped their price target on shares of Wolfspeed from $10.00 to $6.00 and set an “underperform” rating on the stock in a research report on Tuesday, November 19th. Piper Sandler dropped their price target on shares of Wolfspeed from $18.00 to $10.00 and set an “overweight” rating on the stock in a research report on Thursday, January 30th. Susquehanna dropped their price target on shares of Wolfspeed from $11.00 to $7.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 22nd. Finally, Roth Mkm dropped their price target on shares of Wolfspeed from $25.00 to $20.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $14.86.

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.