Ardsley Advisory Partners LP Acquires Shares of 165,000 Wolfspeed, Inc. $WOLF

Ardsley Advisory Partners LP purchased a new position in shares of Wolfspeed, Inc. (NYSE:WOLF) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 165,000 shares of the company’s stock, valued at approximately $2,873,000. Ardsley Advisory Partners LP owned about 0.37% of Wolfspeed at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Goldman Sachs Group Inc. boosted its position in shares of Wolfspeed by 176.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,380,499 shares of the company’s stock worth $4,224,000 after purchasing an additional 881,603 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Wolfspeed by 94.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,868,741 shares of the company’s stock valued at $5,718,000 after purchasing an additional 906,968 shares in the last quarter. WINTON GROUP Ltd acquired a new stake in shares of Wolfspeed in the 2nd quarter valued at $47,000. Ilex Capital Partners UK LLP raised its holdings in shares of Wolfspeed by 499.1% in the 2nd quarter. Ilex Capital Partners UK LLP now owns 665,697 shares of the company’s stock valued at $265,000 after purchasing an additional 554,587 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Wolfspeed in the 2nd quarter valued at $34,000.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on WOLF shares. Wall Street Zen upgraded shares of Wolfspeed from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Wolfspeed in a report on Friday, March 27th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $20.00.

Wolfspeed Price Performance

Shares of NYSE WOLF opened at $48.69 on Thursday. Wolfspeed, Inc. has a 12-month low of $8.05 and a 12-month high of $80.82. The company has a market capitalization of $2.53 billion and a PE ratio of -4.61. The firm’s 50-day moving average is $45.07 and its two-hundred day moving average is $27.79.

Wolfspeed (NYSE:WOLF) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($3.26) earnings per share (EPS) for the quarter, beating the consensus estimate of ($3.78) by $0.52. The business had revenue of $150.20 million during the quarter, compared to analysts’ expectations of $150.00 million. During the same period last year, the company earned ($0.72) EPS. The firm’s revenue for the quarter was down 19.0% on a year-over-year basis.

Wolfspeed Company Profile

Wolfspeed, Inc (NYSE: WOLF) is a leading developer and manufacturer of silicon carbide (SiC) and gallium nitride (GaN) semiconductor materials and devices. The company’s product portfolio addresses high-growth markets such as electric vehicles, renewable energy, fast-charging infrastructure, aerospace and defense, and telecommunications. By leveraging proprietary materials and device designs, Wolfspeed delivers solutions that offer improved energy efficiency, higher power density and greater thermal performance compared to conventional silicon-based semiconductors.

Founded as part of Cree, Inc and spun off to form an independent public company in October 2021, Wolfspeed traces its roots to the mid-1980s when it pioneered the commercial use of wide-bandgap semiconductor technology.