Wolfspeed, Inc. (NYSE:WOLF) Stock Position Lowered by Janus Henderson Group PLC

Janus Henderson Group PLC lessened its stake in Wolfspeed, Inc. (NYSE:WOLF) by 81.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 135,376 shares of the company’s stock after selling 584,956 shares during the quarter. Janus Henderson Group PLC owned 0.11% of Wolfspeed worth $1,313,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Signaturefd LLC raised its position in Wolfspeed by 284.3% during the second quarter. Signaturefd LLC now owns 2,087 shares of the company’s stock valued at $48,000 after acquiring an additional 1,544 shares in the last quarter. Eastern Bank acquired a new position in Wolfspeed during the third quarter worth $27,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Wolfspeed in the second quarter worth about $75,000. GAMMA Investing LLC increased its holdings in shares of Wolfspeed by 416.4% during the 3rd quarter. GAMMA Investing LLC now owns 4,544 shares of the company’s stock valued at $44,000 after acquiring an additional 3,664 shares during the last quarter. Finally, Asset Management One Co. Ltd. lifted its holdings in Wolfspeed by 69.0% in the 3rd quarter. Asset Management One Co. Ltd. now owns 7,067 shares of the company’s stock worth $69,000 after purchasing an additional 2,885 shares during the last quarter.

Insider Transactions at Wolfspeed

In other Wolfspeed news, Director Darren R. Jackson bought 36,975 shares of Wolfspeed stock in a transaction on Wednesday, November 20th. The shares were purchased at an average price of $6.76 per share, with a total value of $249,951.00. Following the acquisition, the director now owns 85,996 shares in the company, valued at $581,332.96. This trade represents a 75.43 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Glenda Dorchak purchased 3,592 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was acquired at an average price of $8.33 per share, for a total transaction of $29,921.36. Following the purchase, the director now owns 18,688 shares in the company, valued at approximately $155,671.04. The trade was a 23.79 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 78,067 shares of company stock valued at $524,747. 0.84% of the stock is owned by corporate insiders.

Wolfspeed Stock Performance

NYSE WOLF opened at $8.27 on Friday. 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 firm’s fifty day moving average price is $10.88 and its two-hundred day moving average price is $15.15. The firm has a market capitalization of $1.06 billion, a P/E ratio of -1.39 and a beta of 1.38. Wolfspeed, Inc. has a 1 year low of $6.10 and a 1 year high of $47.43.

Wall Street Analysts Forecast Growth

WOLF has been the topic of a number of research analyst reports. Roth Mkm lowered their target price on shares of Wolfspeed from $25.00 to $20.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. TD Cowen decreased their price objective on Wolfspeed from $25.00 to $15.00 and set a “hold” rating on the stock in a report on Thursday, August 22nd. The Goldman Sachs Group decreased their price objective on shares of Wolfspeed from $22.00 to $19.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Mizuho decreased their price target on Wolfspeed from $10.00 to $6.00 and set an “underperform” rating on the stock in a report on Tuesday, November 19th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Wolfspeed from $20.00 to $17.00 and set a “neutral” rating for the company in a research report on Thursday, November 7th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Wolfspeed has an average rating of “Hold” and a consensus target price of $17.21.

About Wolfspeed

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.