Quantinno Capital Management LP Makes New $118,000 Investment in Wolfspeed, Inc. (NYSE:WOLF)

Quantinno Capital Management LP purchased a new stake in shares of Wolfspeed, Inc. (NYSE:WOLF) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 12,211 shares of the company’s stock, valued at approximately $118,000.

Several other large investors have also made changes to their positions in WOLF. SG Americas Securities LLC raised its holdings in Wolfspeed by 41.0% during the second quarter. SG Americas Securities LLC now owns 17,708 shares of the company’s stock valued at $403,000 after buying an additional 5,153 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in Wolfspeed by 6.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 29,470 shares of the company’s stock worth $671,000 after purchasing an additional 1,722 shares during the last quarter. Slow Capital Inc. boosted its position in Wolfspeed by 12.4% during the second quarter. Slow Capital Inc. now owns 137,389 shares of the company’s stock worth $3,127,000 after purchasing an additional 15,137 shares during the period. Bank of New York Mellon Corp grew its holdings in Wolfspeed by 14.3% during the second quarter. Bank of New York Mellon Corp now owns 1,177,332 shares of the company’s stock valued at $26,796,000 after purchasing an additional 147,527 shares during the last quarter. Finally, Iridian Asset Management LLC CT raised its position in shares of Wolfspeed by 4.9% in the second quarter. Iridian Asset Management LLC CT now owns 124,101 shares of the company’s stock valued at $2,825,000 after purchasing an additional 5,827 shares during the period.

Insider Activity

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

Analyst Ratings Changes

WOLF has been the topic of several recent analyst reports. Mizuho dropped their target price on shares of Wolfspeed from $10.00 to $6.00 and set an “underperform” rating on the stock in a report on Tuesday, November 19th. The Goldman Sachs Group cut their price objective on Wolfspeed from $22.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. JPMorgan Chase & Co. lowered their target price on Wolfspeed from $20.00 to $17.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. Piper Sandler reiterated an “overweight” rating and set a $18.00 price target (down from $20.00) on shares of Wolfspeed in a report on Thursday, November 7th. Finally, Roth Mkm lowered their price objective on shares of Wolfspeed from $25.00 to $20.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Wolfspeed currently has a consensus rating of “Hold” and a consensus target price of $17.21.

Wolfspeed Price Performance

Wolfspeed stock opened at $7.85 on Wednesday. The business has a 50 day simple moving average of $10.84 and a 200 day simple moving average of $14.86. The company has a debt-to-equity ratio of 9.82, a current ratio of 3.14 and a quick ratio of 2.54. The company has a market capitalization of $1.00 billion, a PE ratio of -1.32 and a beta of 1.38. Wolfspeed, Inc. has a one year low of $6.10 and a one year high of $47.43.

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.