Green Alpha Advisors LLC Has $150,000 Holdings in Wolfspeed, Inc. (NYSE:WOLF)

Green Alpha Advisors LLC lowered its stake in shares of Wolfspeed, Inc. (NYSE:WOLF) by 34.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 22,574 shares of the company’s stock after selling 11,794 shares during the period. Green Alpha Advisors LLC’s holdings in Wolfspeed were worth $150,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in WOLF. Iridian Asset Management LLC CT boosted its holdings in Wolfspeed by 319.9% during the 3rd quarter. Iridian Asset Management LLC CT now owns 521,158 shares of the company’s stock worth $5,055,000 after acquiring an additional 397,057 shares during the last quarter. Public Sector Pension Investment Board purchased a new position in Wolfspeed during the third quarter worth about $2,590,000. Primecap Management Co. CA grew its position in Wolfspeed by 5.0% in the 3rd quarter. Primecap Management Co. CA now owns 6,349,180 shares of the company’s stock worth $61,587,000 after purchasing an additional 303,870 shares in the last quarter. Principal Financial Group Inc. increased its stake in Wolfspeed by 41.4% in the 3rd quarter. Principal Financial Group Inc. now owns 592,599 shares of the company’s stock valued at $5,748,000 after buying an additional 173,409 shares during the last quarter. Finally, Rheos Capital Works Inc. lifted its position in shares of Wolfspeed by 140.8% during the 3rd quarter. Rheos Capital Works Inc. now owns 427,500 shares of the company’s stock worth $4,147,000 after buying an additional 250,000 shares in the last quarter.

Wolfspeed Trading Down 3.1 %

Shares of WOLF opened at $4.92 on Tuesday. Wolfspeed, Inc. has a twelve month low of $4.81 and a twelve month high of $37.29. The stock has a market cap of $628.35 million, a PE ratio of -0.83 and a beta of 1.43. The company has a quick ratio of 2.54, a current ratio of 3.14 and a debt-to-equity ratio of 9.82. The business’s 50-day moving average price is $8.11 and its 200-day moving average price is $12.14.

Analysts Set New Price Targets

A number of analysts recently commented on WOLF shares. Mizuho decreased their price target on Wolfspeed from $10.00 to $6.00 and set an “underperform” rating for the company in a research report on Tuesday, November 19th. JPMorgan Chase & Co. lowered their target price on Wolfspeed from $20.00 to $17.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. StockNews.com upgraded shares of Wolfspeed to a “sell” rating in a research report on Monday, January 6th. The Goldman Sachs Group lowered their price objective on shares of Wolfspeed from $22.00 to $19.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Finally, Canaccord Genuity Group reduced their target price on shares of Wolfspeed from $25.00 to $18.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $17.21.

Insider Buying and Selling

In other Wolfspeed news, Director Darren R. Jackson acquired 36,975 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was bought at an average price of $6.76 per share, with a total value of $249,951.00. Following the completion of the acquisition, the director now owns 85,996 shares of the company’s stock, valued at $581,332.96. This trade represents a 75.43 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Glenda Dorchak bought 3,592 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was bought at an average cost of $8.33 per share, for a total transaction of $29,921.36. Following the completion of the purchase, the director now directly owns 18,688 shares of the company’s stock, valued at $155,671.04. This represents a 23.79 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 78,067 shares of company stock valued at $524,747. Company insiders own 0.84% of the company’s stock.

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.