Janus Henderson Group PLC Sells 584,956 Shares of Wolfspeed, Inc. (NYSE:WOLF)

Janus Henderson Group PLC lowered its position in Wolfspeed, Inc. (NYSE:WOLF) by 81.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 135,376 shares of the company’s stock after selling 584,956 shares during the quarter. Janus Henderson Group PLC’s holdings in Wolfspeed were worth $1,313,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the business. Signaturefd LLC increased its position in Wolfspeed by 284.3% in the 2nd quarter. Signaturefd LLC now owns 2,087 shares of the company’s stock valued at $48,000 after acquiring an additional 1,544 shares during the period. Eastern Bank acquired a new stake in Wolfspeed in the third quarter valued at $27,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Wolfspeed during the 2nd quarter worth $75,000. GAMMA Investing LLC lifted its holdings in Wolfspeed by 416.4% during the 3rd 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 period. Finally, Asset Management One Co. Ltd. grew its position in shares of Wolfspeed by 69.0% in the 3rd quarter. Asset Management One Co. Ltd. now owns 7,067 shares of the company’s stock valued at $69,000 after buying an additional 2,885 shares during the last quarter.

Analyst Ratings Changes

A number of research firms recently commented on WOLF. JPMorgan Chase & Co. cut their price objective on Wolfspeed from $20.00 to $17.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. Canaccord Genuity Group dropped their price target on shares of Wolfspeed from $25.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Mizuho decreased their price objective on shares of Wolfspeed from $10.00 to $6.00 and set an “underperform” rating for the company in a research report on Tuesday, November 19th. Roth Mkm dropped their target price on shares of Wolfspeed from $25.00 to $20.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Finally, Bank of America decreased their price target on Wolfspeed from $25.00 to $15.00 and set an “underperform” rating for the company in a report on Friday, August 23rd. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, Wolfspeed currently has a consensus rating of “Hold” and a consensus price target of $17.21.

Wolfspeed Stock Up 2.3 %

WOLF stock opened at $8.27 on Friday. The stock’s 50 day simple moving average is $10.88 and its 200 day simple moving average is $15.15. The company has a market cap of $1.06 billion, a P/E ratio of -1.39 and a beta of 1.38. The company has a debt-to-equity ratio of 9.82, a quick ratio of 2.54 and a current ratio of 3.14. Wolfspeed, Inc. has a fifty-two week low of $6.10 and a fifty-two week high of $47.43.

Insider Transactions at Wolfspeed

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

About Wolfspeed

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.