Wolfspeed Inc (NYSE:WOLF)’s traded shares stood at 3.33 million during the last session, with the company’s beta value hitting 1.65. At the close of trading, the stock’s price was $28.58, to imply an increase of 6.13% or $1.65 in intraday trading. The WOLF share’s 52-week high remains $70.42, putting it -146.4% down since that peak but still an impressive 17.63% since price per share fell to its 52-week low of $23.54. The company has a valuation of $3.60B, with an average of 4.19 million shares in intraday trading volume over the past 10 days and average of 4.74 million shares over the past 3 months.
Wolfspeed Inc (NYSE:WOLF) trade information
After registering a 6.13% upside in the last session, Wolfspeed Inc (WOLF) has traded red over the past five days. The stock hit a weekly high of 30.16, jumping 6.13% in its intraday price action. The 5-day price performance for the stock is 4.92%, and 10.05% over 30 days. With these gigs, the year-to-date price performance is -34.31%. Short interest in Wolfspeed Inc (NYSE:WOLF) saw shorts transact 19.72 million shares and set a 3.56 days time to cover.
Wolfspeed Inc (WOLF) estimates and forecasts
Looking at statistics comparing Wolfspeed Inc share performance against respective industry, we note that the company has underperformed competitors. Wolfspeed Inc (WOLF) shares are -26.79% down over the last 6 months, with its year-to-date growth rate lower than industry average at -62.07% against -45.20%. Revenue is forecast to shrink -392.30% this quarter before falling -42.90% for the next one. The rating firms project that company’s revenue will shrink -9.60% compared to the previous financial year.
Revenue forecast for the current quarter as set by 14 analysts is $201.18 million. Meanwhile, for the quarter ending Jun 2024, a total of 14 analyst(s) estimate revenue growth to $226.6 million.
WOLF Dividends
Wolfspeed Inc has its next earnings report out between April 24 and April 29. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. Wolfspeed Inc has a forward dividend ratio of 0, with the share yield ticking at 0.00% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.
Wolfspeed Inc (NYSE:WOLF)’s Major holders
Wolfspeed Inc insiders hold 0.92% of total outstanding shares, with institutional holders owning 113.72% of the shares at 114.78% float percentage. In total, 113.72% institutions holds shares in the company, led by Blackrock Inc.. As of Jun 29, 2023, the company held over 17.32 million shares (or 13.83% of shares), all amounting to roughly $962.77 million.
The next major institution holding the largest number of shares is Capital Research Global Investors with 15.71 million shares, or about 12.54% of shares outstanding. As of the market price on Jun 29, 2023, these shares were worth $873.26 million.
We also have Growth Fund Of America Inc and Fundamental Investors Inc as the top two Mutual Funds with the largest holdings of the Wolfspeed Inc (WOLF) shares. Going by data provided on Jun 29, 2023, Growth Fund Of America Inc holds roughly 8.84 million shares. This is just over 7.06% of the total shares, with a market valuation of $491.32 million. Data from the same date shows that the other fund manager holds a little less at 5.86 million, or 4.68% of the shares, all valued at about 325.63 million.
