EA Series Trust Acquires New Holdings in Wolfspeed, Inc. (NYSE:WOLF)

Posted by Defense World Staff on Oct 24th, 2023

EA Series Trust purchased a new stake in shares of Wolfspeed, Inc. (NYSE:WOLF – Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 4,119 shares of the company’s stock, valued at approximately $229,000.

Several other large investors have also recently made changes to their positions in the stock. Brown Brothers Harriman & Co. lifted its stake in Wolfspeed by 133.5% during the first quarter. Brown Brothers Harriman & Co. now owns 579 shares of the company’s stock worth $38,000 after purchasing an additional 331 shares in the last quarter. First Manhattan CO. LLC. acquired a new position in Wolfspeed during the 1st quarter worth about $39,000. Penserra Capital Management LLC purchased a new position in Wolfspeed during the 4th quarter valued at about $43,000. Fifth Third Bancorp grew its position in Wolfspeed by 41.4% in the 2nd quarter. Fifth Third Bancorp now owns 902 shares of the company’s stock valued at $50,000 after acquiring an additional 264 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd purchased a new stake in Wolfspeed during the first quarter worth about $52,000.

Wolfspeed Trading Down 2.2 %

NYSE WOLF opened at $31.18 on Tuesday. The firm’s fifty day moving average price is $40.48 and its 200 day moving average price is $49.43. Wolfspeed, Inc. has a 12 month low of $30.88 and a 12 month high of $113.75. The company has a debt-to-equity ratio of 2.58, a current ratio of 5.74 and a quick ratio of 5.22. The company has a market capitalization of $3.91 billion, a price-to-earnings ratio of -11.77 and a beta of 1.61.

Wolfspeed (NYSE:WOLF – Get Free Report) last posted its earnings results on Wednesday, August 16th. The company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.22). The firm had revenue of $235.80 million for the quarter, compared to analyst estimates of $224.53 million. Wolfspeed had a negative return on equity of 9.18% and a negative net margin of 35.78%. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter last year, the firm posted ($0.12) EPS. On average, sell-side analysts expect that Wolfspeed, Inc. will post -3.44 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Bank of America dropped their price objective on shares of Wolfspeed from $49.00 to $40.00 and set an “underperform” rating for the company in a report on Tuesday, October 10th. Deutsche Bank Aktiengesellschaft cut their price objective on Wolfspeed from $60.00 to $48.00 and set a “hold” rating on the stock in a research report on Friday, September 22nd. Susquehanna decreased their target price on Wolfspeed from $60.00 to $58.00 in a report on Tuesday, June 27th. Piper Sandler cut their price target on Wolfspeed from $75.00 to $55.00 and set an “overweight” rating on the stock in a report on Thursday, October 12th. Finally, TD Cowen lowered their price objective on Wolfspeed from $72.00 to $50.00 and set an “outperform” rating for the company in a research report on Thursday, August 17th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Wolfspeed presently has a consensus rating of “Hold” and an average price target of $62.79.

Get Our Latest Stock Analysis on WOLF

Insider Buying and Selling at Wolfspeed

In other Wolfspeed news, Director Duy Loan T. Le bought 5,000 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The shares were acquired at an average cost of $47.01 per share, with a total value of $235,050.00. Following the acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $470,100. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.85% of the stock is owned by company insiders.

Wolfspeed Company Profile

(Free Report)

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.

EA Series Trust Acquires New Holdings in Wolfspeed, Inc. (NYSE:WOLF)

Wolfspeed Trading Down 2.2 %

Analysts Set New Price Targets

Insider Buying and Selling at Wolfspeed

Wolfspeed Company Profile

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