Militia Capital Partners LP Increases Stake in Wolfspeed, Inc. $WOLF

Militia Capital Partners LP increased its position in Wolfspeed, Inc. (NYSE:WOLF) by 69.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 44,000 shares of the company’s stock after acquiring an additional 18,000 shares during the quarter. Militia Capital Partners LP owned about 0.10% of Wolfspeed worth $766,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board bought a new position in Wolfspeed in the 2nd quarter worth about $34,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Wolfspeed in the 2nd quarter worth about $34,000. Marex Group plc bought a new position in Wolfspeed in the 2nd quarter worth about $44,000. Eastern Bank bought a new position in Wolfspeed in the 4th quarter worth about $46,000. Finally, WINTON GROUP Ltd bought a new position in Wolfspeed in the 2nd quarter worth about $47,000.

Analyst Upgrades and Downgrades

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

Wolfspeed Stock Down 8.4%

Shares of NYSE WOLF opened at $44.96 on Wednesday. The company has a market cap of $2.34 billion and a P/E ratio of -4.26. The business has a 50-day simple moving average of $44.46 and a two-hundred day simple moving average of $27.60. Wolfspeed, Inc. has a 52 week low of $8.05 and a 52 week high of $80.82.

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

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.