Capital Group Investment Management PTE. LTD. cut its holdings in shares of Wolfspeed, Inc. (NYSE:WOLF – Free Report) by 69.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,719 shares of the company’s stock after selling 57,352 shares during the period. Capital Group Investment Management PTE. LTD.’s holdings in Wolfspeed were worth $759,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in WOLF. State of Michigan Retirement System increased its stake in shares of Wolfspeed by 1.0% in the fourth quarter. State of Michigan Retirement System now owns 30,022 shares of the company’s stock valued at $1,306,000 after buying an additional 300 shares during the period. Independence Bank of Kentucky lifted its holdings in Wolfspeed by 97.0% in the fourth quarter. Independence Bank of Kentucky now owns 711 shares of the company’s stock valued at $31,000 after buying an additional 350 shares during the period. Fifth Third Bancorp boosted its position in Wolfspeed by 56.9% during the first quarter. Fifth Third Bancorp now owns 1,246 shares of the company’s stock valued at $37,000 after acquiring an additional 452 shares during the last quarter. Capital Investment Advisory Services LLC grew its holdings in Wolfspeed by 6.1% during the 4th quarter. Capital Investment Advisory Services LLC now owns 8,665 shares of the company’s stock worth $377,000 after acquiring an additional 500 shares during the period. Finally, New York State Teachers Retirement System grew its stake in Wolfspeed by 0.3% during the first quarter. New York State Teachers Retirement System now owns 143,499 shares of the company’s stock worth $4,233,000 after purchasing an additional 500 shares during the period.
Insider Buying and Selling
In related news, Director Marvin Riley purchased 1,866 shares of the stock in a transaction that occurred on Tuesday, May 28th. The shares were bought at an average price of $27.05 per share, with a total value of $50,475.30. Following the acquisition, the director now owns 13,297 shares of the company’s stock, valued at approximately $359,683.85. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.62% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
Check Out Our Latest Research Report on WOLF
Wolfspeed Stock Performance
Shares of NYSE WOLF traded up $0.90 during midday trading on Friday, reaching $19.24. The company’s stock had a trading volume of 3,626,487 shares, compared to its average volume of 4,257,639. The company has a debt-to-equity ratio of 5.55, a current ratio of 4.58 and a quick ratio of 4.00. The stock has a market capitalization of $2.42 billion, a P/E ratio of -2.98 and a beta of 1.60. The firm has a 50 day moving average price of $24.77 and a 200-day moving average price of $26.81. Wolfspeed, Inc. has a 12-month low of $18.10 and a 12-month high of $66.22.
Wolfspeed (NYSE:WOLF – Get Free Report) last posted its quarterly earnings data on Wednesday, May 1st. The company reported ($0.79) earnings per share for the quarter, topping the consensus estimate of ($0.82) by $0.03. Wolfspeed had a negative return on equity of 27.37% and a negative net margin of 96.12%. The business had revenue of $200.70 million for the quarter, compared to analysts’ expectations of $201.49 million. As a group, equities analysts predict that Wolfspeed, Inc. will post -3.21 earnings per share for the current year.
About Wolfspeed
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.
Recommended Stories
- Five stocks we like better than Wolfspeed
- 10 Best Airline Stocks to Buy
- 3M Surprises and Rebound Accelerates: It Isn’t Too Late To Get In
- How to Know Which Cryptocurrency to Buy: A Guide for Investors
- Skechers Stock Shows Strength Among Consumer Discretionary Sector
- Procter & Gamble (NYSE:PG) Pulls Back After Shaky Guidance
- Tech Stocks Tumble, These Stocks Present Buying Opportunity
Want to see what other hedge funds are holding WOLF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wolfspeed, Inc. (NYSE:WOLF – Free Report).
Receive News & Ratings for Wolfspeed Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wolfspeed and related companies with MarketBeat.com's FREE daily email newsletter.