Farringdon Capital Ltd. Invests $317,000 in Wolfspeed, Inc. (NYSE:WOLF)

Farringdon Capital Ltd. purchased a new stake in shares of Wolfspeed, Inc. (NYSE:WOLF) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 47,572 shares of the company’s stock, valued at approximately $317,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WOLF. Jones Financial Companies Lllp lifted its holdings in Wolfspeed by 1,240.6% in the fourth quarter. Jones Financial Companies Lllp now owns 3,834 shares of the company’s stock worth $26,000 after buying an additional 3,548 shares during the period. R Squared Ltd bought a new position in shares of Wolfspeed during the fourth quarter valued at $28,000. Steward Partners Investment Advisory LLC increased its stake in Wolfspeed by 192.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,429 shares of the company’s stock valued at $29,000 after purchasing an additional 2,912 shares in the last quarter. KBC Group NV raised its holdings in Wolfspeed by 76.5% in the 4th quarter. KBC Group NV now owns 6,064 shares of the company’s stock worth $40,000 after acquiring an additional 2,629 shares during the last quarter. Finally, Allworth Financial LP lifted its holdings in shares of Wolfspeed by 38.1% during the fourth quarter. Allworth Financial LP now owns 7,060 shares of the company’s stock valued at $44,000 after purchasing an additional 1,949 shares in the last quarter.

Wall Street Analyst Weigh In

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

Wolfspeed Stock Up 14.5 %

Shares of WOLF opened at $2.47 on Friday. The firm has a market capitalization of $315.96 million, a P/E ratio of -0.32 and a beta of 1.69. Wolfspeed, Inc. has a 12-month low of $2.06 and a 12-month high of $30.86. The firm has a fifty day moving average price of $4.64 and a 200-day moving average price of $7.41. The company has a current ratio of 3.15, a quick ratio of 2.47 and a debt-to-equity ratio of 17.26.

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 analysts’ consensus estimates of ($0.90) by ($0.20). Wolfspeed had a negative return on equity of 70.84% and a negative net margin of 125.96%. Equities research analysts expect that Wolfspeed, Inc. will post -4 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.