Dynamic Technology Lab Private Ltd Makes New $443,000 Investment in Wolfspeed, Inc. (NYSE:WOLF)

Dynamic Technology Lab Private Ltd acquired a new stake in Wolfspeed, Inc. (NYSE:WOLF) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 66,533 shares of the company’s stock, valued at approximately $443,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of WOLF. Charles Schwab Investment Management Inc. lifted its holdings in shares of Wolfspeed by 38.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,207,157 shares of the company’s stock worth $8,040,000 after acquiring an additional 335,966 shares during the last quarter. South Dakota Investment Council lifted its position in shares of Wolfspeed by 26.4% in the 4th quarter. South Dakota Investment Council now owns 717,482 shares of the company’s stock worth $4,778,000 after purchasing an additional 149,648 shares during the period. Primecap Management Co. CA boosted its position in shares of 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 purchasing an additional 169,984 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Wolfspeed by 41.4% during the 3rd quarter. Principal Financial Group Inc. now owns 592,599 shares of the company’s stock valued at $5,748,000 after acquiring an additional 173,409 shares during the period. Finally, Bryce Point Capital LLC bought a new position in Wolfspeed during the fourth quarter worth $1,003,000.

Wall Street Analyst Weigh In

WOLF has been the topic of several research reports. The Goldman Sachs Group dropped their price objective 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. Piper Sandler reduced their price objective on Wolfspeed from $18.00 to $10.00 and set an “overweight” rating for the company in a research note on Thursday, January 30th. StockNews.com upgraded Wolfspeed to a “sell” rating in a report on Monday, January 6th. Susquehanna decreased their price target 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. Finally, 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 note on Thursday, January 30th. Three investment 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 MarketBeat, the company has a consensus rating of “Hold” and an average target price of $13.15.

Wolfspeed Price Performance

Shares of NYSE:WOLF opened at $2.22 on Wednesday. The company’s fifty day moving average is $5.25 and its 200 day moving average is $7.80. The company has a quick ratio of 2.47, a current ratio of 3.15 and a debt-to-equity ratio of 17.26. Wolfspeed, Inc. has a 52 week low of $2.15 and a 52 week high of $30.86. The stock has a market cap of $282.88 million, a PE ratio of -0.29 and a beta of 1.69.

Wolfspeed (NYSE:WOLF) last released 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 net margin of 125.96% and a negative return on equity of 70.84%. Research analysts anticipate that Wolfspeed, Inc. will post -4 earnings per share for the current 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.