Verity Asset Management Inc. Buys Shares of 5,419 Wolfspeed, Inc. (NYSE:WOLF)

Verity Asset Management Inc. purchased a new position in Wolfspeed, Inc. (NYSE:WOLFFree Report) in the fourth quarter, HoldingsChannel.com reports. The fund purchased 5,419 shares of the company’s stock, valued at approximately $236,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Wolfspeed by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 12,471,667 shares of the company’s stock worth $475,171,000 after purchasing an additional 188,236 shares during the period. Artisan Partners Limited Partnership grew its stake in shares of Wolfspeed by 7.3% in the third quarter. Artisan Partners Limited Partnership now owns 2,273,472 shares of the company’s stock valued at $86,619,000 after buying an additional 154,021 shares in the last quarter. FengHe Fund Management Pte. Ltd. raised its holdings in shares of Wolfspeed by 438.9% during the 4th quarter. FengHe Fund Management Pte. Ltd. now owns 1,431,200 shares of the company’s stock valued at $62,272,000 after buying an additional 1,165,600 shares during the period. JANA Partners Management LP purchased a new position in Wolfspeed in the 3rd quarter worth approximately $35,662,000. Finally, Charles Schwab Investment Management Inc. grew its position in Wolfspeed by 4.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 809,600 shares of the company’s stock valued at $35,226,000 after acquiring an additional 34,865 shares in the last quarter.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on WOLF. Mizuho decreased their target price on shares of Wolfspeed from $30.00 to $27.00 and set a “neutral” rating for the company in a research note on Thursday, May 2nd. Canaccord Genuity Group cut their price target on Wolfspeed from $50.00 to $47.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Susquehanna lowered their price objective on Wolfspeed from $25.00 to $23.00 and set a “neutral” rating for the company in a research note on Thursday, May 2nd. Roth Mkm reaffirmed a “buy” rating and issued a $50.00 target price on shares of Wolfspeed in a research report on Tuesday, April 30th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of Wolfspeed from $30.00 to $25.00 and set a “hold” rating for the company in a research report on Tuesday, May 7th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Wolfspeed currently has an average rating of “Hold” and a consensus target price of $36.93.

View Our Latest Stock Analysis on WOLF

Wolfspeed Stock Performance

Shares of WOLF traded up $0.35 during mid-day trading on Friday, reaching $25.53. 2,027,392 shares of the company’s stock traded hands, compared to its average volume of 5,418,657. Wolfspeed, Inc. has a 12 month low of $20.63 and a 12 month high of $70.42. The stock has a market capitalization of $3.21 billion, a P/E ratio of -3.95 and a beta of 1.64. The business’s 50-day moving average price is $26.18 and its 200-day moving average price is $31.56. The company has a debt-to-equity ratio of 5.55, a quick ratio of 4.00 and a current ratio of 4.58.

Wolfspeed Company Profile

(Free Report)

Wolfspeed, Inc operates as a powerhouse semiconductor company focuses on silicon carbide and gallium nitride (GaN) technologies in Europe, Hong Kong, China, rest of Asia-Pacific, the United States, and internationally. It offers silicon carbide and GaN materials, including silicon carbide bare wafers, epitaxial wafers, and GaN epitaxial layers on silicon carbide wafers to manufacture products for RF, power, and other applications.

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Institutional Ownership by Quarter for Wolfspeed (NYSE:WOLF)

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