Versor Investments LP Has $705,000 Position in Wolfspeed, Inc. (NYSE:WOLF)

Versor Investments LP trimmed its stake in shares of Wolfspeed, Inc. (NYSE:WOLFFree Report) by 7.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,200 shares of the company’s stock after selling 1,269 shares during the quarter. Versor Investments LP’s holdings in Wolfspeed were worth $705,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in WOLF. FengHe Fund Management Pte. Ltd. increased its holdings in Wolfspeed by 438.9% in the 4th quarter. FengHe Fund Management Pte. Ltd. now owns 1,431,200 shares of the company’s stock worth $62,272,000 after purchasing an additional 1,165,600 shares in the last quarter. JANA Partners Management LP bought a new position in Wolfspeed in the 3rd quarter valued at approximately $35,662,000. Polar Capital Holdings Plc acquired a new stake in Wolfspeed during the 3rd quarter worth approximately $16,200,000. UniSuper Management Pty Ltd grew its holdings in Wolfspeed by 86.7% during the 3rd quarter. UniSuper Management Pty Ltd now owns 703,822 shares of the company’s stock worth $26,816,000 after acquiring an additional 326,810 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in Wolfspeed by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 12,471,667 shares of the company’s stock valued at $475,171,000 after acquiring an additional 188,236 shares during the period.

Analyst Upgrades and Downgrades

WOLF has been the subject of a number of recent research reports. Citigroup decreased their price objective on Wolfspeed from $29.00 to $25.00 and set a “neutral” rating for the company in a report on Thursday, May 2nd. Canaccord Genuity Group cut their price objective on Wolfspeed from $50.00 to $47.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Wolfspeed from $30.00 to $25.00 and set a “hold” rating for the company in a research report on Tuesday. TD Cowen lowered shares of Wolfspeed from a “buy” rating to a “hold” rating and reduced their price objective for the company from $40.00 to $25.00 in a research note on Thursday, May 2nd. Finally, Piper Sandler lowered their target price on shares of Wolfspeed from $55.00 to $45.00 and set an “overweight” rating for the company in a research note on Thursday, February 1st. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Wolfspeed has an average rating of “Hold” and a consensus price target of $36.93.

Get Our Latest Analysis on WOLF

Wolfspeed Stock Down 3.9 %

Shares of WOLF stock traded down $0.99 during trading hours on Friday, reaching $24.12. The company had a trading volume of 2,497,804 shares, compared to its average volume of 5,628,931. The company has a market cap of $3.04 billion, a price-to-earnings ratio of -3.73 and a beta of 1.64. The company has a debt-to-equity ratio of 5.55, a current ratio of 4.58 and a quick ratio of 4.00. Wolfspeed, Inc. has a 12 month low of $20.63 and a 12 month high of $70.42. The business has a fifty day simple moving average of $26.46 and a 200-day simple moving average of $31.75.

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.

Further Reading

Institutional Ownership by Quarter for Wolfspeed (NYSE:WOLF)

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