Green Alpha Advisors LLC Sells 11,794 Shares of Wolfspeed, Inc. (NYSE:WOLF)

Green Alpha Advisors LLC decreased its position in Wolfspeed, Inc. (NYSE:WOLF) by 34.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 22,574 shares of the company’s stock after selling 11,794 shares during the quarter. Green Alpha Advisors LLC’s holdings in Wolfspeed were worth $150,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Eastern Bank purchased a new position in shares of Wolfspeed in the third quarter worth about $27,000. GAMMA Investing LLC increased its stake in Wolfspeed by 416.4% in the 3rd quarter. GAMMA Investing LLC now owns 4,544 shares of the company’s stock worth $44,000 after purchasing an additional 3,664 shares during the period. Asset Management One Co. Ltd. lifted its position in Wolfspeed by 69.0% in the third quarter. Asset Management One Co. Ltd. now owns 7,067 shares of the company’s stock valued at $69,000 after purchasing an additional 2,885 shares during the last quarter. Ground Swell Capital LLC bought a new position in shares of Wolfspeed in the third quarter worth approximately $99,000. Finally, US Bancorp DE grew its holdings in shares of Wolfspeed by 225.9% in the third quarter. US Bancorp DE now owns 11,343 shares of the company’s stock worth $110,000 after purchasing an additional 7,863 shares during the last quarter.

Wolfspeed Stock Performance

Shares of WOLF opened at $4.92 on Tuesday. The company has a quick ratio of 2.54, a current ratio of 3.14 and a debt-to-equity ratio of 9.82. The stock has a market cap of $628.35 million, a P/E ratio of -0.83 and a beta of 1.43. The business’s 50 day moving average price is $8.11 and its 200-day moving average price is $12.14. Wolfspeed, Inc. has a 52 week low of $4.81 and a 52 week high of $37.29.

Insider Transactions at Wolfspeed

In other news, Chairman Thomas H. Werner bought 37,500 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were purchased at an average price of $6.53 per share, for a total transaction of $244,875.00. Following the completion of the purchase, the chairman now owns 108,549 shares in the company, valued at approximately $708,824.97. This represents a 52.78 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Glenda Dorchak purchased 3,592 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were purchased at an average price of $8.33 per share, for a total transaction of $29,921.36. Following the acquisition, the director now owns 18,688 shares of the company’s stock, valued at approximately $155,671.04. The trade was a 23.79 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 78,067 shares of company stock valued at $524,747. Insiders own 0.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on WOLF. Piper Sandler reissued an “overweight” rating and set a $18.00 price target (down previously from $20.00) on shares of Wolfspeed in a research report on Thursday, November 7th. StockNews.com raised Wolfspeed to a “sell” rating in a research note on Monday, January 6th. Mizuho lowered their price target on Wolfspeed from $10.00 to $6.00 and set an “underperform” rating for the company in a research 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 on the stock in a research report on Thursday, November 7th. Finally, Morgan Stanley upped their target price on Wolfspeed from $10.00 to $15.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Three 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 company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $17.21.

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.