Wolfspeed, Inc. (NYSE:WOLF) Chairman Thomas H. Werner Buys 37,500 Shares

Wolfspeed, Inc. (NYSE:WOLF) Chairman Thomas H. Werner acquired 37,500 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were bought at an average price of $6.53 per share, for a total transaction of $244,875.00. Following the purchase, the chairman now owns 108,549 shares in the company, valued at approximately $708,824.97. This represents a 52.78 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Wolfspeed Price Performance

Wolfspeed stock remained flat at $6.44 during midday trading on Thursday. The company’s stock had a trading volume of 10,268,657 shares, compared to its average volume of 6,943,332. The stock’s fifty day moving average is $10.74 and its 200-day moving average is $17.01. Wolfspeed, Inc. has a one year low of $6.10 and a one year high of $47.43. The company has a debt-to-equity ratio of 9.82, a current ratio of 3.14 and a quick ratio of 2.54.

Wolfspeed (NYSE:WOLF) last released its quarterly earnings results on Wednesday, August 21st. The company reported ($1.06) EPS for the quarter, missing the consensus estimate of ($1.03) by ($0.03). Wolfspeed had a negative return on equity of 49.86% and a negative net margin of 93.31%. The firm had revenue of $200.70 million for the quarter, compared to analyst estimates of $201.11 million. On average, sell-side analysts expect that Wolfspeed, Inc. will post -4.13 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in shares of Wolfspeed by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 13,079,067 shares of the company’s stock worth $385,832,000 after buying an additional 449,732 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Wolfspeed by 14.8% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 133,395 shares of the company’s stock valued at $3,935,000 after acquiring an additional 17,154 shares in the last quarter. Natixis bought a new stake in Wolfspeed in the first quarter valued at about $875,000. EntryPoint Capital LLC increased its stake in Wolfspeed by 149.4% during the first quarter. EntryPoint Capital LLC now owns 3,295 shares of the company’s stock valued at $97,000 after purchasing an additional 1,974 shares during the last quarter. Finally, Advisors Asset Management Inc. grew its position in shares of Wolfspeed by 64.8% during the first quarter. Advisors Asset Management Inc. now owns 1,757 shares of the company’s stock worth $52,000 after acquiring an additional 691 shares during the last quarter.

Wall Street Analyst Weigh In

WOLF has been the topic of a number of analyst reports. Morgan Stanley increased their target price on shares of Wolfspeed from $10.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. TD Cowen cut their target price on shares of Wolfspeed from $25.00 to $15.00 and set a “hold” rating on the stock in a research note on Thursday, August 22nd. New Street Research lowered shares of Wolfspeed from a “buy” rating to a “neutral” rating and set a $18.00 price target for the company. in a research note on Wednesday, August 7th. Canaccord Genuity Group cut their price objective on shares of Wolfspeed from $25.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Finally, Bank of America lowered their target price on shares of Wolfspeed from $25.00 to $15.00 and set an “underperform” rating on the stock in a research note on Friday, August 23rd. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, Wolfspeed presently has a consensus rating of “Hold” and an average 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.