Here’s Why You Should Retain Your Holdings in Wolfspeed (WOLF)

Carillon Tower Advisers, an investment management company, released its “Carillon Eagle Mid Cap Growth Fund” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the mid-cap stocks posted solid gains. On the other hand, its full-year returns were disappointing. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Carillon Tower Advisors highlighted stocks like Wolfspeed, Inc. (NYSE:WOLF) in the Q4 2022 investor letter. Headquartered in Durham, North Carolina, Wolfspeed, Inc. (NYSE:WOLF) is a semiconductor manufacturing company. On January 17, 2023, Wolfspeed, Inc. (NYSE:WOLF) stock closed at $80.92 per share. One-month return of Wolfspeed, Inc. (NYSE:WOLF) was 4.63%, and its shares lost  16.19% of their value over the last 52 weeks. Wolfspeed, Inc. (NYSE:WOLF) has a market capitalization of $10.051 billion.

Carillon Tower Advisors made the following comment about Wolfspeed, Inc. (NYSE:WOLF) in its Q4 2022 investor letter:

“Wolfspeed, Inc. (NYSE:WOLF) supplies semiconductors that help electric vehicles (EVs) charge more quickly and fully. The company has made significant announcements regarding long-term supply agreements with various auto manufacturers and their suppliers regarding buying the company’s products. However, there is a fairly sizable capital investment required to meet those supply agreements, and investors have questioned to what degree and at what cost financing is available to build those factories. We firmly believe the company will be able to meet the financing needs to meet the long-term targets via a combination of debt, equity, and customer pre-payments.”

Photo by Umberto on Unsplash

Wolfspeed, Inc. (NYSE:WOLF) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 39 hedge fund portfolios held Wolfspeed, Inc. (NYSE:WOLF) at the end of the third quarter, and 31 in the previous quarter.

We discussed Wolfspeed, Inc. (NYSE:WOLF) in another article and shared the list of large-cap stocks with insider buying. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.