Dynamic Technology Lab Private Ltd Takes Position in Wolfspeed, Inc. (NYSE:WOLF)

Dynamic Technology Lab Private Ltd acquired a new position in shares of Wolfspeed, Inc. (NYSE:WOLF) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 66,533 shares of the company’s stock, valued at approximately $443,000. Dynamic Technology Lab Private Ltd owned about 0.05% of Wolfspeed at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. raised its position in Wolfspeed by 38.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,207,157 shares of the company’s stock valued at $8,040,000 after purchasing an additional 335,966 shares during the period. South Dakota Investment Council lifted its stake in Wolfspeed by 26.4% during the 4th quarter. South Dakota Investment Council now owns 717,482 shares of the company’s stock worth $4,778,000 after acquiring an additional 149,648 shares in the last quarter. Primecap Management Co. CA boosted its holdings in Wolfspeed by 2.7% during the 4th quarter. Primecap Management Co. CA now owns 6,519,164 shares of the company’s stock valued at $43,418,000 after acquiring an additional 169,984 shares during the period. Principal Financial Group Inc. increased its stake in Wolfspeed by 41.4% during the third quarter. Principal Financial Group Inc. now owns 592,599 shares of the company’s stock worth $5,748,000 after purchasing an additional 173,409 shares during the period. Finally, Bryce Point Capital LLC acquired a new stake in shares of Wolfspeed during the fourth quarter worth about $1,003,000.

Wolfspeed Trading Down 14.5 %

Wolfspeed stock opened at $2.22 on Wednesday. The company has a 50 day moving average price of $5.25 and a 200 day moving average price of $7.80. The firm has a market capitalization of $282.88 million, a price-to-earnings ratio of -0.29 and a beta of 1.69. 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 $2.15 and a 52 week high of $30.86.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on WOLF shares. Piper Sandler reduced their target price on shares of Wolfspeed from $18.00 to $10.00 and set an “overweight” rating on the stock in a report on Thursday, January 30th. StockNews.com raised Wolfspeed to a “sell” rating in a research report on Monday, January 6th. The Goldman Sachs Group reduced their target price on shares of Wolfspeed from $15.00 to $8.00 and set a “buy” rating on the stock in a report on Wednesday, April 2nd. Canaccord Genuity Group dropped their price objective on shares of Wolfspeed from $18.00 to $10.00 and set a “buy” rating on the stock in a research report on Thursday, January 30th. Finally, Susquehanna lowered their target price on shares of Wolfspeed from $11.00 to $7.00 and set a “neutral” rating for the company in a research note on Wednesday, January 22nd. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Wolfspeed currently has a consensus rating of “Hold” and a consensus price target of $13.15.

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.