Carillon Eagle Mid Cap Growth Fund is Bullish on Wolfspeed (WOLF)

Carillon Tower Advisers, an investment management company, released its “Carillon Eagle Mid Cap Growth Fund” third quarter 2022 investor letter. A copy of the same can be downloaded here. In the third quarter, the fund delivered negative returns. The portfolio recorded impressive gains at the beginning of the quarter. In contrast, there was a disappointing selloff at the end of the quarter. The Russell Midcap Growth Index was 0.65% down compared to a 4.92% decline for its counterpart, the Russell Midcap Value Index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

In the third-quarter letter, Carillon Tower Advisers discussed stocks like Wolfspeed, Inc. (NYSE:WOLF). Headquartered in Durham, North Carolina, Wolfspeed, Inc. (NYSE:WOLF) is a semiconductor manufacturing company. On October 27, 2022, Wolfspeed, Inc. (NYSE:WOLF) stock closed at $87.06 per share. One-month return of Wolfspeed, Inc. (NYSE:WOLF) was -15.77% and its shares lost 27.52% of their value over the last 52 weeks. Wolfspeed, Inc. (NYSE:WOLF) has a market capitalization of $10.813 billion.

Carillon Tower Advisers made the following comment about Wolfspeed, Inc. (NYSE:WOLF) in its Q3 2022 investor letter:

“Wolfspeed, Inc. (NYSE:WOLF) is a key enabler of the adoption of electric vehicles. The company provides components that help electric vehicles charge faster and helps charging stations deliver more power faster. As a pure-play beneficiary of this trend, the company has seen investors appreciate the sizeable lead it has established and the long-term contracts with vehicle manufacturers that provide significant visibility into revenues over the next few years.”

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Wolfspeed, Inc. (NYSE:WOLF) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 31 hedge fund portfolios held Wolfspeed, Inc. (NYSE:WOLF) at the end of the second quarter, which was 27 in the previous quarter.

We discussed Wolfspeed, Inc. (NYSE:WOLF) in another article and shared the list of notable stocks from the tech sector. In addition, please check out our hedge fund investor letters Q3 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.