Wolfspeed, Inc. (NYSE:WOLF) Shares Purchased by Quantbot Technologies LP

Quantbot Technologies LP lifted its position in Wolfspeed, Inc. (NYSE:WOLF) by 982.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,359 shares of the company’s stock after acquiring an additional 23,925 shares during the period. Quantbot Technologies LP’s holdings in Wolfspeed were worth $256,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Mather Group LLC. boosted its stake in Wolfspeed by 385.5% during the second quarter. Mather Group LLC. now owns 1,175 shares of the company’s stock worth $27,000 after buying an additional 933 shares during the last quarter. Eastern Bank acquired a new position in Wolfspeed during the third quarter worth $27,000. GAMMA Investing LLC boosted its stake in Wolfspeed by 416.4% during the third quarter. GAMMA Investing LLC now owns 4,544 shares of the company’s stock worth $44,000 after buying an additional 3,664 shares during the last quarter. Signaturefd LLC boosted its stake in Wolfspeed by 284.3% during the second quarter. Signaturefd LLC now owns 2,087 shares of the company’s stock worth $48,000 after buying an additional 1,544 shares during the last quarter. Finally, Asset Management One Co. Ltd. boosted its stake in Wolfspeed by 69.0% during the third quarter. Asset Management One Co. Ltd. now owns 7,067 shares of the company’s stock worth $69,000 after buying an additional 2,885 shares during the last quarter.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Piper Sandler reissued an “overweight” rating and set a $18.00 price objective (down previously from $20.00) on shares of Wolfspeed in a research note on Thursday, November 7th. Susquehanna lowered their price objective on Wolfspeed from $16.00 to $11.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. JPMorgan Chase & Co. reduced their target price on Wolfspeed from $20.00 to $17.00 and set a “neutral” rating on the stock in a research report on Thursday, November 7th. Roth Mkm reduced their target price on Wolfspeed from $25.00 to $20.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Finally, Morgan Stanley lifted their target price on Wolfspeed from $10.00 to $15.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Wolfspeed currently has a consensus rating of “Hold” and a consensus target price of $17.21.

Insiders Place Their Bets

In related news, Chairman Thomas H. Werner purchased 37,500 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were bought at an average price of $6.53 per share, for a total transaction of $244,875.00. Following the acquisition, the chairman now directly owns 108,549 shares in the company, valued at $708,824.97. This trade represents a 52.78 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Darren R. Jackson acquired 36,975 shares of the stock in a transaction dated Wednesday, November 20th. The shares were acquired at an average cost of $6.76 per share, with a total value of $249,951.00. Following the completion of the transaction, the director now owns 85,996 shares in the company, valued at approximately $581,332.96. This represents a 75.43 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 78,067 shares of company stock worth $524,747 in the last quarter. 0.84% of the stock is owned by company insiders.

Wolfspeed Price Performance

WOLF stock opened at $10.04 on Thursday. The business’s fifty day moving average price is $10.89 and its 200 day moving average price is $15.96. The company has a current ratio of 3.14, a quick ratio of 2.54 and a debt-to-equity ratio of 9.82. Wolfspeed, Inc. has a 12-month low of $6.10 and a 12-month high of $47.43. The company has a market capitalization of $1.28 billion, a PE ratio of -1.70 and a beta of 1.38.

Wolfspeed Profile

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.