Arkadios Wealth Advisors Makes New $67,000 Investment in Wolfspeed, Inc. (NYSE:WOLF)

Arkadios Wealth Advisors purchased a new position in Wolfspeed, Inc. (NYSE:WOLF) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 10,000 shares of the company’s stock, valued at approximately $67,000.

Other institutional investors have also modified their holdings of the company. Eastern Bank acquired a new position in shares of Wolfspeed during the third quarter worth $27,000. GAMMA Investing LLC grew its stake in shares of Wolfspeed by 416.4% during the third quarter. GAMMA Investing LLC now owns 4,544 shares of the company’s stock worth $44,000 after purchasing an additional 3,664 shares in the last quarter. Asset Management One Co. Ltd. grew its stake in shares of Wolfspeed by 69.0% during the third 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 in the last quarter. Ground Swell Capital LLC acquired a new position in shares of Wolfspeed during the third quarter worth $99,000. Finally, US Bancorp DE grew its stake in shares of Wolfspeed by 225.9% during the third quarter. US Bancorp DE now owns 11,343 shares of the company’s stock worth $110,000 after purchasing an additional 7,863 shares in the last quarter.

Wolfspeed Trading Up 8.3 %

NYSE WOLF opened at $6.62 on Friday. The stock has a market capitalization of $844.80 million, a P/E ratio of -1.11 and a beta of 1.43. Wolfspeed, Inc. has a 52-week low of $4.66 and a 52-week high of $35.84. The firm has a 50-day moving average price of $7.53 and a 200 day moving average price of $11.22. The company has a quick ratio of 2.54, a current ratio of 3.14 and a debt-to-equity ratio of 9.82.

Insider Buying and Selling

In related news, Chairman Thomas H. Werner bought 37,500 shares of the stock in a transaction on Wednesday, November 20th. The shares were bought at an average cost of $6.53 per share, for a total transaction of $244,875.00. Following the completion of the transaction, the chairman now owns 108,549 shares of the company’s stock, valued at $708,824.97. This represents a 52.78 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Glenda Dorchak bought 3,592 shares of the stock in a transaction on Friday, November 22nd. The shares were bought at an average price of $8.33 per share, for a total transaction of $29,921.36. Following the completion of the transaction, the director now directly owns 18,688 shares of the company’s stock, valued at $155,671.04. This trade represents a 23.79 % increase in their position. The disclosure for this purchase can be found here. Insiders bought 78,067 shares of company stock valued at $524,747 over the last ninety days. Corporate insiders own 0.84% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on WOLF shares. Canaccord Genuity Group decreased their price objective on shares of Wolfspeed from $25.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. The Goldman Sachs Group decreased their price objective on shares of Wolfspeed from $19.00 to $17.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Roth Mkm decreased their price objective on shares of Wolfspeed from $25.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. StockNews.com upgraded shares of Wolfspeed to a “sell” rating in a research note on Monday, January 6th. Finally, Susquehanna decreased their price objective on shares of Wolfspeed from $11.00 to $7.00 and set a “neutral” rating for the company in a research note on Wednesday. Three equities 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. According to MarketBeat, Wolfspeed currently has an average rating of “Hold” and a consensus target price of $16.79.

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.