Arkadios Wealth Advisors Makes New Investment in Wolfspeed, Inc. (NYSE:WOLF)

Arkadios Wealth Advisors bought a new position in shares of Wolfspeed, Inc. (NYSE:WOLFFree Report) during the 4th quarter, Holdings Channel reports. The firm bought 10,000 shares of the company’s stock, valued at approximately $67,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Two Sigma Advisers LP grew its position in shares of Wolfspeed by 813.6% in the third quarter. Two Sigma Advisers LP now owns 2,458,600 shares of the company’s stock valued at $23,848,000 after purchasing an additional 2,189,500 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Wolfspeed by 1,158.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 833,201 shares of the company’s stock valued at $8,082,000 after purchasing an additional 766,971 shares during the last quarter. Erste Asset Management GmbH acquired a new stake in shares of Wolfspeed in the third quarter valued at approximately $4,542,000. Iridian Asset Management LLC CT grew its position in shares of Wolfspeed by 319.9% in the third quarter. Iridian Asset Management LLC CT now owns 521,158 shares of the company’s stock valued at $5,055,000 after purchasing an additional 397,057 shares during the last quarter. Finally, Yong Rong HK Asset Management Ltd acquired a new stake in shares of Wolfspeed in the third quarter valued at approximately $2,988,000.

Insider Activity

In other Wolfspeed news, Chairman Thomas H. Werner bought 37,500 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were acquired at an average price of $6.53 per share, with a total value of $244,875.00. Following the purchase, 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Glenda Dorchak purchased 3,592 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were purchased at an average cost of $8.33 per share, for a total transaction of $29,921.36. Following the purchase, the director now directly owns 18,688 shares in the company, valued at $155,671.04. This trade represents a 23.79 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 78,067 shares of company stock valued at $524,747. Company insiders own 0.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on WOLF. Piper Sandler restated an “overweight” rating and set a $18.00 target price (down previously from $20.00) on shares of Wolfspeed in a research report on Thursday, November 7th. Susquehanna decreased their target price on shares of Wolfspeed from $11.00 to $7.00 and set a “neutral” rating on the stock in a research report on Wednesday. Mizuho decreased their target price on shares of Wolfspeed from $10.00 to $6.00 and set an “underperform” rating on the stock in a research report on Tuesday, November 19th. JPMorgan Chase & Co. decreased their target price on shares of Wolfspeed from $20.00 to $17.00 and set a “neutral” rating on the stock in a research report on Thursday, November 7th. Finally, Roth Mkm decreased their target price on shares of Wolfspeed from $25.00 to $20.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Wolfspeed has a consensus rating of “Hold” and a consensus price target of $16.79.

Check Out Our Latest Stock Analysis on WOLF

Wolfspeed Stock Performance

Shares of WOLF stock opened at $6.62 on Friday. The company’s fifty day simple moving average is $7.53 and its 200-day simple moving average is $11.22. Wolfspeed, Inc. has a 52 week low of $4.66 and a 52 week high of $35.84. The company has a current ratio of 3.14, a quick ratio of 2.54 and a debt-to-equity ratio of 9.82. The company has a market cap of $844.80 million, a PE ratio of -1.11 and a beta of 1.43.

About Wolfspeed

(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.

See Also

Want to see what other hedge funds are holding WOLF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wolfspeed, Inc. (NYSE:WOLFFree Report).

Institutional Ownership by Quarter for Wolfspeed (NYSE:WOLF)

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