Bryce Point Capital LLC Purchases Shares of 150,650 Wolfspeed, Inc. (NYSE:WOLF)

Bryce Point Capital LLC purchased a new stake in Wolfspeed, Inc. (NYSE:WOLF) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 150,650 shares of the company’s stock, valued at approximately $1,003,000. Bryce Point Capital LLC owned 0.12% of Wolfspeed at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in WOLF. Vanguard Group Inc. boosted its holdings in Wolfspeed by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 15,924,290 shares of the company’s stock valued at $106,056,000 after acquiring an additional 299,304 shares during the last quarter. Primecap Management Co. CA lifted its position in shares of Wolfspeed by 2.7% in the 4th quarter. Primecap Management Co. CA now owns 6,519,164 shares of the company’s stock worth $43,418,000 after purchasing an additional 169,984 shares during the period. Two Sigma Advisers LP boosted its stake in shares of Wolfspeed by 813.6% in the 3rd quarter. Two Sigma Advisers LP now owns 2,458,600 shares of the company’s stock valued at $23,848,000 after purchasing an additional 2,189,500 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Wolfspeed by 38.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,207,157 shares of the company’s stock worth $8,040,000 after buying an additional 335,966 shares during the period. Finally, Iridian Asset Management LLC CT raised its stake in Wolfspeed by 56.6% during the fourth quarter. Iridian Asset Management LLC CT now owns 816,183 shares of the company’s stock worth $5,436,000 after buying an additional 295,025 shares during the last quarter.

Wolfspeed Trading Down 0.4 %

WOLF opened at $2.81 on Thursday. Wolfspeed, Inc. has a fifty-two week low of $2.41 and a fifty-two week high of $30.86. The firm has a market capitalization of $358.87 million, a PE ratio of -0.37 and a beta of 1.50. The company has a debt-to-equity ratio of 17.26, a current ratio of 3.15 and a quick ratio of 2.47. The company’s 50-day moving average is $5.62 and its 200 day moving average is $8.01.

Wolfspeed (NYSE:WOLF) last issued its quarterly earnings data on Wednesday, January 29th. The company reported ($1.10) EPS for the quarter, missing the consensus estimate of ($0.90) by ($0.20). Wolfspeed had a negative return on equity of 70.84% and a negative net margin of 125.96%. As a group, research analysts predict that Wolfspeed, Inc. will post -4 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have weighed in on WOLF. The Goldman Sachs Group decreased their price target on Wolfspeed from $15.00 to $8.00 and set a “buy” rating for the company in a report on Wednesday. Bank of America decreased their target price on Wolfspeed from $9.50 to $6.00 and set an “underperform” rating for the company in a research note on Thursday, January 30th. Piper Sandler dropped their price target on Wolfspeed from $18.00 to $10.00 and set an “overweight” rating on the stock in a research note on Thursday, January 30th. StockNews.com raised shares of Wolfspeed to a “sell” rating in a research report on Monday, January 6th. Finally, Canaccord Genuity Group dropped their target price on shares of Wolfspeed from $18.00 to $10.00 and set a “buy” rating on the stock in a research report on Thursday, January 30th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $14.36.

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.