Cladis Investment Advisory LLC Purchases Shares of 16,000 Wolfspeed $WOLF

Cladis Investment Advisory LLC purchased a new stake in shares of Wolfspeed (NYSE:WOLF) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 16,000 shares of the company’s stock, valued at approximately $49,000.

A number of other institutional investors have also made changes to their positions in WOLF. Envestnet Asset Management Inc. acquired a new stake in shares of Wolfspeed during the fourth quarter valued at about $84,000. Raymond James Financial Inc. acquired a new stake in shares of Wolfspeed during the fourth quarter valued at about $109,000. Sterling Capital Management LLC increased its position in shares of Wolfspeed by 51.4% during the fourth quarter. Sterling Capital Management LLC now owns 7,463 shares of the company’s stock valued at $50,000 after acquiring an additional 2,533 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Wolfspeed by 16.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 552,953 shares of the company’s stock valued at $3,683,000 after acquiring an additional 78,638 shares during the last quarter. Finally, MYDA Advisors LLC acquired a new stake in shares of Wolfspeed during the fourth quarter valued at about $362,000.

Wolfspeed Trading Up 3.8%

NYSE WOLF opened at $1.35 on Monday. 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 52 week low of $0.39 and a 52 week high of $17.45. The stock has a market capitalization of $210.10 million, a PE ratio of -0.16 and a beta of 1.23. The firm has a 50 day moving average of $1.33 and a two-hundred day moving average of $3.08.

Analysts Set New Price Targets

A number of research analysts recently weighed in on WOLF shares. JPMorgan Chase & Co. restated an “underweight” rating on shares of Wolfspeed in a report on Friday, May 9th. Citigroup restated a “sell” rating and issued a $3.00 price objective (down previously from $7.00) on shares of Wolfspeed in a report on Friday, May 9th. Finally, Piper Sandler dropped their price objective on shares of Wolfspeed from $10.00 to $6.00 and set an “overweight” rating for the company in a report on Friday, May 9th. Five analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $10.58.

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.