76,358 Shares in Wolfspeed $WOLF Purchased by Fox Run Management L.L.C.

Fox Run Management L.L.C. bought a new stake in shares of Wolfspeed (NYSE:WOLF) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 76,358 shares of the company’s stock, valued at approximately $234,000.

Other institutional investors also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. bought a new stake in shares of Wolfspeed in the fourth quarter valued at approximately $84,000. Raymond James Financial Inc. acquired a new position in Wolfspeed during the 4th quarter valued at $109,000. Sterling Capital Management LLC boosted its holdings in Wolfspeed by 51.4% in the 4th quarter. Sterling Capital Management LLC now owns 7,463 shares of the company’s stock valued at $50,000 after purchasing an additional 2,533 shares during the period. Dimensional Fund Advisors LP grew its position in Wolfspeed by 16.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 552,953 shares of the company’s stock worth $3,683,000 after purchasing an additional 78,638 shares during the last quarter. Finally, State of Tennessee Department of Treasury increased its holdings in shares of Wolfspeed by 69.1% during the 4th quarter. State of Tennessee Department of Treasury now owns 54,437 shares of the company’s stock worth $363,000 after purchasing an additional 22,242 shares during the period.

Wolfspeed Stock Performance

NYSE:WOLF opened at $1.4050 on Thursday. The firm has a market capitalization of $218.66 million, a PE ratio of -0.17 and a beta of 1.23. The company has a quick ratio of 3.90, a current ratio of 4.64 and a debt-to-equity ratio of 30.65. Wolfspeed has a 12-month low of $0.3876 and a 12-month high of $17.4475. The firm has a 50-day moving average price of $1.33 and a 200 day moving average price of $3.02.

Wall Street Analyst Weigh In

WOLF has been the subject of a number of research analyst reports. JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of Wolfspeed in a research report on Friday, May 9th. Citigroup restated a “sell” rating and set a $3.00 price target (down from $7.00) on shares of Wolfspeed in a research note on Friday, May 9th. Finally, Piper Sandler reduced their price objective on Wolfspeed from $10.00 to $6.00 and set an “overweight” rating for the company in a research report on Friday, May 9th. Four equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $10.58.

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.