59,227 Shares in Wolfspeed, Inc. (NYSE:WOLF) Acquired by Centiva Capital LP

Centiva Capital LP purchased a new position in shares of Wolfspeed, Inc. (NYSE:WOLF) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 59,227 shares of the company’s stock, valued at approximately $394,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of WOLF. Erste Asset Management GmbH lifted its stake in shares of Wolfspeed by 77.4% during the 4th quarter. Erste Asset Management GmbH now owns 793,518 shares of the company’s stock worth $5,773,000 after acquiring an additional 346,319 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Wolfspeed by 38.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,207,157 shares of the company’s stock valued at $8,040,000 after purchasing an additional 335,966 shares in the last quarter. Vanguard Group Inc. raised its position in Wolfspeed by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 15,924,290 shares of the company’s stock valued at $106,056,000 after purchasing an additional 299,304 shares in the last quarter. Iridian Asset Management LLC CT raised its position in Wolfspeed by 56.6% during the 4th quarter. Iridian Asset Management LLC CT now owns 816,183 shares of the company’s stock valued at $5,436,000 after purchasing an additional 295,025 shares in the last quarter. Finally, Yaupon Capital Management LP bought a new stake in Wolfspeed during the 4th quarter valued at $1,924,000.

Insider Buying and Selling

In related news, CFO Neill Reynolds sold 13,909 shares of the business’s stock in a transaction on Monday, April 28th. The stock was sold at an average price of $3.99, for a total transaction of $55,496.91. Following the transaction, the chief financial officer now directly owns 195,257 shares in the company, valued at $779,075.43. The trade was a 6.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.84% of the stock is owned by company insiders.

Wolfspeed Trading Down 26.2%

Shares of NYSE:WOLF opened at $3.27 on Monday. Wolfspeed, Inc. has a 12-month low of $2.06 and a 12-month high of $30.86. The business’s fifty day simple moving average is $3.87 and its 200-day simple moving average is $6.40. The company has a market capitalization of $417.62 million, a PE ratio of -0.43 and a beta of 1.62. The company has a current ratio of 3.15, a quick ratio of 2.47 and a debt-to-equity ratio of 17.26.

Analyst Ratings Changes

A number of equities research analysts have weighed in on WOLF shares. JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of Wolfspeed in a research report on Friday. Citigroup reaffirmed a “sell” rating and set a $3.00 target price (down from $7.00) on shares of Wolfspeed in a research report on Friday. Bank of America decreased their target price on Wolfspeed from $9.50 to $6.00 and set an “underperform” rating for the company in a research report on Thursday, January 30th. Canaccord Genuity Group decreased their target price on Wolfspeed from $18.00 to $10.00 and set a “buy” rating for the company in a research report on Thursday, January 30th. Finally, The Goldman Sachs Group decreased their target price on Wolfspeed from $15.00 to $8.00 and set a “buy” rating for the company in a research report on Wednesday, April 2nd. Five equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $11.15.

Wolfspeed Company 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.