Janus Henderson Group PLC Boosts Holdings in Wolfspeed, Inc. (NYSE:WOLF)

Janus Henderson Group PLC boosted its position in shares of Wolfspeed, Inc. (NYSE:WOLF) by 2.0% during the 1st quarter, HoldingsChannel.com reports. The firm owned 720,961 shares of the company’s stock after purchasing an additional 14,007 shares during the period. Janus Henderson Group PLC’s holdings in Wolfspeed were worth $21,265,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in WOLF. Vanguard Group Inc. grew its position in Wolfspeed by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 13,079,067 shares of the company’s stock worth $385,832,000 after purchasing an additional 449,732 shares during the period. Norges Bank bought a new stake in shares of Wolfspeed during the 4th quarter valued at about $308,701,000. Artisan Partners Limited Partnership increased its position in shares of Wolfspeed by 15.5% during the 4th quarter. Artisan Partners Limited Partnership now owns 2,626,081 shares of the company’s stock valued at $114,261,000 after purchasing an additional 352,609 shares during the last quarter. Primecap Management Co. CA lifted its stake in shares of Wolfspeed by 1.6% in the 4th quarter. Primecap Management Co. CA now owns 1,906,494 shares of the company’s stock worth $82,952,000 after purchasing an additional 29,700 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in Wolfspeed by 4.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 809,600 shares of the company’s stock valued at $35,226,000 after buying an additional 34,865 shares during the period.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on WOLF. JPMorgan Chase & Co. reduced their target price on shares of Wolfspeed from $43.00 to $35.00 and set a “neutral” rating for the company in a report on Thursday, April 11th. William Blair cut Wolfspeed from an “outperform” rating to a “market perform” rating in a report on Thursday, May 2nd. Morgan Stanley lowered their price target on Wolfspeed from $26.00 to $23.00 and set an “equal weight” rating on the stock in a report on Tuesday, June 25th. Canaccord Genuity Group decreased their price target on shares of Wolfspeed from $47.00 to $45.00 and set a “buy” rating on the stock in a research note on Tuesday, June 25th. Finally, Roth Mkm reiterated a “buy” rating and issued a $50.00 target price on shares of Wolfspeed in a research report on Tuesday, April 30th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Wolfspeed presently has a consensus rating of “Hold” and a consensus price target of $35.43.

Wolfspeed Price Performance

WOLF opened at $18.85 on Thursday. The business has a fifty day moving average price of $24.44 and a 200 day moving average price of $26.42. Wolfspeed, Inc. has a 12 month low of $17.73 and a 12 month high of $66.22. The company has a debt-to-equity ratio of 5.55, a current ratio of 4.58 and a quick ratio of 4.00.

Wolfspeed (NYSE:WOLF) last released its quarterly earnings data on Wednesday, May 1st. The company reported ($0.79) EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $201.49 million. As a group, sell-side analysts anticipate that Wolfspeed, Inc. will post -3.21 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Marvin Riley purchased 1,866 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was acquired at an average price of $27.05 per share, for a total transaction of $50,475.30. Following the completion of the purchase, the director now directly owns 13,297 shares of the company’s stock, valued at $359,683.85. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.62% of the company’s stock.

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.