Wolfspeed, Inc. (NYSE:WOLF) Stock Holdings Lowered by National Bank of Canada FI

National Bank of Canada FI lessened its stake in Wolfspeed, Inc. (NYSE:WOLF – Get Rating) by 89.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 544 shares of the company’s stock after selling 4,507 shares during the period. National Bank of Canada FI’s holdings in Wolfspeed were worth $38,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of WOLF. Lazard Asset Management LLC bought a new position in Wolfspeed in the 3rd quarter valued at about $25,000. Trustcore Financial Services LLC boosted its position in shares of Wolfspeed by 214.1% during the 3rd quarter. Trustcore Financial Services LLC now owns 311 shares of the company’s stock valued at $32,000 after purchasing an additional 212 shares in the last quarter. Money Concepts Capital Corp boosted its position in shares of Wolfspeed by 534.0% during the 3rd quarter. Money Concepts Capital Corp now owns 317 shares of the company’s stock valued at $33,000 after purchasing an additional 267 shares in the last quarter. Allworth Financial LP boosted its position in shares of Wolfspeed by 57.5% during the 3rd quarter. Allworth Financial LP now owns 408 shares of the company’s stock valued at $42,000 after purchasing an additional 149 shares in the last quarter. Finally, Bogart Wealth LLC boosted its position in shares of Wolfspeed by 774.5% during the 3rd quarter. Bogart Wealth LLC now owns 411 shares of the company’s stock valued at $42,000 after purchasing an additional 364 shares in the last quarter.

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Wolfspeed Price Performance

Shares of WOLF opened at $56.85 on Tuesday. The firm has a market cap of $7.07 billion, a PE ratio of -46.60 and a beta of 1.54. The firm’s 50 day moving average price is $67.61 and its 200 day moving average price is $78.78. The company has a debt-to-equity ratio of 0.62, a quick ratio of 3.97 and a current ratio of 4.61. Wolfspeed, Inc. has a twelve month low of $52.76 and a twelve month high of $125.48.

Wolfspeed (NYSE:WOLF – Get Rating) last announced its quarterly earnings results on Wednesday, January 25th. The company reported ($0.28) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.03. Wolfspeed had a negative return on equity of 4.40% and a negative net margin of 18.90%. The company had revenue of $216.10 million for the quarter, compared to the consensus estimate of $225.62 million. As a group, research analysts expect that Wolfspeed, Inc. will post -0.94 EPS for the current fiscal year.

Analyst Ratings Changes

WOLF has been the subject of several research reports. Susquehanna reduced their price objective on shares of Wolfspeed from $90.00 to $88.00 and set a “neutral” rating for the company in a research report on Thursday, January 26th. BMO Capital Markets reduced their price objective on shares of Wolfspeed from $85.00 to $80.00 and set a “market perform” rating for the company in a research note on Thursday, January 26th. Morgan Stanley reduced their price objective on shares of Wolfspeed from $88.00 to $80.00 in a research note on Thursday, January 26th. JPMorgan Chase & Co. lowered shares of Wolfspeed from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $100.00 to $65.00 in a research note on Monday. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Wolfspeed from $90.00 to $80.00 in a research note on Wednesday, January 11th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Wolfspeed presently has a consensus rating of “Hold” and an average target price of $94.88.

Wolfspeed Company Profile

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Wolfspeed, Inc is an innovator of Wolfspeed power and radio frequency (RF) semiconductors. Its Wolfspeed product families include silicon carbide materials, power-switching devices and RF devices targeted for applications such as electric vehicles, fast charging inverters, power supplies, telecom and military and aerospace.

Further Reading

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