Wolfspeed, Inc. (NYSE:WOLF) Shares Sold by Sugar Maple Asset Management LLC

Sugar Maple Asset Management LLC lessened its position in shares of Wolfspeed, Inc. (NYSE:WOLF) by 33.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 14,390 shares of the company’s stock after selling 7,330 shares during the quarter. Sugar Maple Asset Management LLC’s holdings in Wolfspeed were worth $96,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its position in Wolfspeed by 30.5% in the second quarter. Dimensional Fund Advisors LP now owns 637,581 shares of the company’s stock valued at $14,513,000 after purchasing an additional 149,093 shares during the period. Vanguard Personalized Indexing Management LLC increased its position in shares of Wolfspeed by 32.7% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 15,665 shares of the company’s stock worth $353,000 after acquiring an additional 3,860 shares during the period. XTX Topco Ltd purchased a new stake in shares of Wolfspeed during the second quarter worth $454,000. Inspire Investing LLC grew its stake in shares of Wolfspeed by 26.5% during the second quarter. Inspire Investing LLC now owns 15,419 shares of the company’s stock worth $351,000 after purchasing an additional 3,230 shares in the last quarter. Finally, Intech Investment Management LLC acquired a new position in shares of Wolfspeed during the second quarter worth $1,114,000.

Insider Buying and Selling

In related news, Director Darren R. Jackson acquired 36,975 shares of the stock in a transaction dated Wednesday, November 20th. The stock was bought at an average cost of $6.76 per share, with a total value of $249,951.00. Following the purchase, the director now directly owns 85,996 shares of the company’s stock, valued at approximately $581,332.96. This represents a 75.43 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Thomas H. Werner acquired 37,500 shares of the stock in a transaction dated Wednesday, November 20th. The shares were bought at an average cost of $6.53 per share, with a total value of $244,875.00. Following the completion of the purchase, the chairman now directly owns 108,549 shares in the company, valued at approximately $708,824.97. This trade represents a 52.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 78,067 shares of company stock worth $524,747 in the last ninety days. Insiders own 0.84% of the company’s stock.

Analysts Set New Price Targets

WOLF has been the subject of a number of analyst reports. StockNews.com upgraded shares of Wolfspeed to a “sell” rating in a research note on Monday, January 6th. 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 note on Wednesday, October 16th. Roth Mkm cut their price target on shares of Wolfspeed from $25.00 to $20.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Mizuho cut their price target on shares of Wolfspeed from $10.00 to $6.00 and set an “underperform” rating for the company in a report on Tuesday, November 19th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $18.00 target price (down from $20.00) on shares of Wolfspeed in a report on Thursday, November 7th. Three 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.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $17.07.

Wolfspeed Trading Down 7.5 %

Shares of Wolfspeed stock opened at $6.25 on Tuesday. 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, Inc. has a 1 year low of $4.66 and a 1 year high of $37.29. The company has a market capitalization of $798.70 million, a P/E ratio of -1.05 and a beta of 1.43. The business has a 50 day moving average price of $7.64 and a 200 day moving average price of $11.54.

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.