Wolfspeed, Inc. (NYSE:WOLF) Shares Acquired by Semanteon Capital Management LP

by · The Markets Daily

Semanteon Capital Management LP increased its holdings in shares of Wolfspeed, Inc. (NYSE:WOLF – Free Report) by 136.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 122,444 shares of the company’s stock after purchasing an additional 70,699 shares during the quarter. Wolfspeed accounts for approximately 0.8% of Semanteon Capital Management LP’s portfolio, making the stock its 22nd biggest position. Semanteon Capital Management LP owned about 0.10% of Wolfspeed worth $1,188,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Sunbelt Securities Inc. raised its position in Wolfspeed by 34.7% in the first quarter. Sunbelt Securities Inc. now owns 2,724 shares of the company’s stock valued at $80,000 after purchasing an additional 702 shares during the period. State of Michigan Retirement System raised its holdings in shares of Wolfspeed by 3.0% in the 1st quarter. State of Michigan Retirement System now owns 30,922 shares of the company’s stock valued at $912,000 after buying an additional 900 shares during the period. Commonwealth Equity Services LLC lifted its stake in Wolfspeed by 6.3% during the 1st quarter. Commonwealth Equity Services LLC now owns 35,534 shares of the company’s stock worth $1,048,000 after acquiring an additional 2,116 shares in the last quarter. Retirement Systems of Alabama boosted its holdings in Wolfspeed by 0.4% during the 1st quarter. Retirement Systems of Alabama now owns 238,375 shares of the company’s stock valued at $7,032,000 after acquiring an additional 1,011 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in Wolfspeed by 20.8% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 128,099 shares of the company’s stock valued at $3,779,000 after acquiring an additional 22,075 shares in the last quarter.

Wall Street Analysts Forecast Growth

WOLF has been the topic of several research reports. Bank of America reduced their price target on shares of Wolfspeed from $25.00 to $15.00 and set an “underperform” rating on the stock in a research report on Friday, August 23rd. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Wolfspeed from $17.00 to $14.00 and set a “hold” rating on the stock in a report on Thursday, August 22nd. The Goldman Sachs Group dropped their price target on shares of Wolfspeed from $48.00 to $28.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Morgan Stanley upped their price objective on Wolfspeed from $10.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Finally, Canaccord Genuity Group decreased their target price on Wolfspeed from $45.00 to $25.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $22.43.

Check Out Our Latest Stock Analysis on Wolfspeed

Wolfspeed Stock Up 1.5 %

Wolfspeed stock traded up $0.22 during mid-day trading on Monday, hitting $15.08. The company had a trading volume of 1,159,912 shares, compared to its average volume of 6,366,926. The company has a quick ratio of 3.85, a current ratio of 4.51 and a debt-to-equity ratio of 6.99. Wolfspeed, Inc. has a 1 year low of $7.28 and a 1 year high of $47.43. The business has a fifty day moving average of $10.76 and a 200 day moving average of $18.81. The stock has a market cap of $1.90 billion, a price-to-earnings ratio of -2.30 and a beta of 1.52.

Wolfspeed (NYSE:WOLF – Get Free Report) last posted its earnings results on Wednesday, August 21st. The company reported ($1.06) EPS for the quarter, missing analysts’ consensus estimates of ($1.03) by ($0.03). Wolfspeed had a negative net margin of 107.93% and a negative return on equity of 37.76%. The company had revenue of $200.70 million during the quarter, compared to analysts’ expectations of $201.11 million. On average, sell-side analysts expect that Wolfspeed, Inc. will post -3.84 earnings per share for the current fiscal year.

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.

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