D.A. Davidson & CO. purchased a new position in Wolfspeed, Inc. (NYSE:WOLF – Get Rating) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 3,297 shares of the company’s stock, valued at approximately $228,000.
Several other hedge funds have also recently added to or reduced their stakes in the business. Fifth Third Bancorp grew its position in Wolfspeed by 27.6% in the third quarter. Fifth Third Bancorp now owns 532 shares of the company’s stock worth $55,000 after buying an additional 115 shares during the last quarter. Profund Advisors LLC grew its position in Wolfspeed by 1.5% during the 4th quarter. Profund Advisors LLC now owns 8,399 shares of the company’s stock worth $580,000 after purchasing an additional 122 shares in the last quarter. Signaturefd LLC grew its position in Wolfspeed by 34.1% during the 4th quarter. Signaturefd LLC now owns 547 shares of the company’s stock worth $38,000 after purchasing an additional 139 shares in the last quarter. Securian Asset Management Inc. grew its position in Wolfspeed by 1.3% during the 4th quarter. Securian Asset Management Inc. now owns 11,414 shares of the company’s stock worth $788,000 after purchasing an additional 143 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its position in Wolfspeed by 2.3% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 8,496 shares of the company’s stock worth $878,000 after purchasing an additional 191 shares in the last quarter.
Wolfspeed Stock Down 2.1 %
Wolfspeed stock opened at $45.66 on Wednesday. The firm has a fifty day moving average price of $58.48 and a two-hundred day moving average price of $69.09. Wolfspeed, Inc. has a fifty-two week low of $44.25 and a fifty-two week high of $125.48. The company has a debt-to-equity ratio of 1.78, a current ratio of 4.69 and a quick ratio of 6.13. The firm has a market cap of $5.68 billion, a price-to-earnings ratio of -30.85 and a beta of 1.53.
Analyst Ratings Changes
Several equities analysts have weighed in on the stock. StockNews.com upgraded shares of Wolfspeed to a “sell” rating in a research report on Monday, January 23rd. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Wolfspeed from $90.00 to $80.00 in a report on Wednesday, January 11th. JPMorgan Chase & Co. cut shares of Wolfspeed from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $100.00 to $65.00 in a report on Monday, April 17th. Susquehanna reduced their price objective on shares of Wolfspeed from $88.00 to $60.00 in a research note on Thursday, April 27th. Finally, Wells Fargo & Company reduced their price objective on shares of Wolfspeed from $110.00 to $80.00 in a research note on Thursday, April 27th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $85.00.
Insider Activity at Wolfspeed
In other Wolfspeed news, Director John B. Replogle bought 10,566 shares of the stock in a transaction that occurred on Friday, April 28th. The shares were acquired at an average price of $47.54 per share, with a total value of $502,307.64. Following the completion of the purchase, the director now directly owns 81,405 shares in the company, valued at approximately $3,869,993.70. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Wolfspeed news, Director John B. Replogle bought 10,566 shares of the stock in a transaction that occurred on Friday, April 28th. The shares were acquired at an average price of $47.54 per share, with a total value of $502,307.64. Following the completion of the purchase, the director now directly owns 81,405 shares in the company, valued at approximately $3,869,993.70. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Gregg A. Lowe acquired 5,450 shares of the firm’s stock in a transaction on Friday, April 28th. The shares were purchased at an average cost of $45.94 per share, for a total transaction of $250,373.00. Following the completion of the purchase, the chief executive officer now directly owns 524,855 shares of the company’s stock, valued at approximately $24,111,838.70. The disclosure for this purchase can be found here. 0.62% of the stock is currently owned by insiders.
About Wolfspeed
Wolfspeed, Inc is an innovator of Wolfspeed power and radio frequency (RF) semiconductors. Its Wolfspeed product families include silicon carbide materials, power-switching devices and RF devices targeted for applications such as electric vehicles, fast charging inverters, power supplies, telecom and military and aerospace.
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