D.A. Davidson & CO. Has $881,000 Position in Wolfspeed, Inc. (NYSE:WOLF)

D.A. Davidson & CO. boosted its stake in Wolfspeed, Inc. (NYSE:WOLF) by 54.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 90,786 shares of the company’s stock after purchasing an additional 31,937 shares during the quarter. D.A. Davidson & CO. owned about 0.07% of Wolfspeed worth $881,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Mather Group LLC. grew its stake in shares of Wolfspeed by 385.5% in the 2nd quarter. Mather Group LLC. now owns 1,175 shares of the company’s stock valued at $27,000 after buying an additional 933 shares during the period. Signaturefd LLC raised its position in shares of Wolfspeed by 284.3% during the second quarter. Signaturefd LLC now owns 2,087 shares of the company’s stock worth $48,000 after purchasing an additional 1,544 shares during the period. Eastern Bank acquired a new position in shares of Wolfspeed during the third quarter worth approximately $27,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Wolfspeed in the 2nd quarter worth $75,000. Finally, GAMMA Investing LLC grew its position in Wolfspeed by 416.4% in the 3rd quarter. GAMMA Investing LLC now owns 4,544 shares of the company’s stock valued at $44,000 after purchasing an additional 3,664 shares during the period.

Wolfspeed Price Performance

Shares of NYSE:WOLF opened at $9.58 on Monday. The company has a market capitalization of $1.22 billion, a P/E ratio of -1.61 and a beta of 1.46. The company’s 50-day moving average is $10.78 and its 200 day moving average is $16.23. The company has a debt-to-equity ratio of 9.82, a quick ratio of 2.54 and a current ratio of 3.14. Wolfspeed, Inc. has a fifty-two week low of $6.10 and a fifty-two week high of $47.43.

Insiders Place Their Bets

In other news, Director Glenda Dorchak purchased 3,592 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was bought 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 of the company’s stock, valued at $155,671.04. The trade was a 23.79 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Thomas H. Werner acquired 37,500 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were acquired at an average cost of $6.53 per share, for a total transaction of $244,875.00. Following the completion of the acquisition, the chairman now owns 108,549 shares of the company’s stock, valued at approximately $708,824.97. The trade was a 52.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 78,067 shares of company stock valued at $524,747. Company insiders own 0.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on WOLF shares. JPMorgan Chase & Co. lowered their price objective on shares of Wolfspeed from $20.00 to $17.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. New Street Research cut shares of Wolfspeed from a “buy” rating to a “neutral” rating and set a $18.00 price target on the stock. in a research report on Wednesday, August 7th. TD Cowen cut their price target on Wolfspeed from $25.00 to $15.00 and set a “hold” rating for the company in a research note on Thursday, August 22nd. Morgan Stanley increased their price objective on Wolfspeed from $10.00 to $15.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Finally, The Goldman Sachs Group cut their target price on Wolfspeed from $22.00 to $19.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $17.21.

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.