Inspire Investing LLC Acquires 18,021 Shares of Wolfspeed, Inc. (NYSE:WOLF)

Inspire Investing LLC lifted its holdings in Wolfspeed, Inc. (NYSE:WOLF) by 42.0% in the 4th quarter, Holdings Channel reports. The firm owned 60,927 shares of the company’s stock after acquiring an additional 18,021 shares during the period. Inspire Investing LLC’s holdings in Wolfspeed were worth $406,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of WOLF. Eastern Bank purchased a new stake in Wolfspeed during the 3rd quarter valued at $27,000. GAMMA Investing LLC increased its position in Wolfspeed by 416.4% during the third quarter. GAMMA Investing LLC now owns 4,544 shares of the company’s stock valued at $44,000 after acquiring an additional 3,664 shares during the last quarter. Arkadios Wealth Advisors bought a new position in Wolfspeed in the fourth quarter valued at about $67,000. Asset Management One Co. Ltd. boosted its position in Wolfspeed by 69.0% in 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 during the last quarter. Finally, Ground Swell Capital LLC bought a new stake in shares of Wolfspeed during the 3rd quarter valued at about $99,000.

Wolfspeed Price Performance

WOLF stock opened at $6.62 on Friday. The company has a market capitalization of $844.80 million, a PE ratio of -1.11 and a beta of 1.43. The company’s fifty day moving average price is $7.53 and its 200-day moving average price is $11.13. Wolfspeed, Inc. has a one year low of $4.66 and a one year high of $35.84. The company has a debt-to-equity ratio of 9.82, a quick ratio of 2.54 and a current ratio of 3.14.

Insider Transactions at Wolfspeed

In other Wolfspeed news, Director Darren R. Jackson purchased 36,975 shares of Wolfspeed stock in a transaction that occurred on Wednesday, November 20th. The shares were bought at an average price of $6.76 per share, for a total transaction of $249,951.00. Following the completion of the transaction, the director now owns 85,996 shares of the company’s stock, valued at approximately $581,332.96. This trade represents a 75.43 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Glenda Dorchak acquired 3,592 shares of the stock in a transaction on Friday, November 22nd. The shares were acquired at an average price of $8.33 per share, with a total value of $29,921.36. Following the transaction, the director now directly 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 disclosure for this purchase can be found here. Over the last three months, insiders have bought 78,067 shares of company stock valued at $524,747. 0.84% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on WOLF. Mizuho lowered their price objective on shares of Wolfspeed from $10.00 to $6.00 and set an “underperform” rating on the stock in a research note on Tuesday, November 19th. Morgan Stanley increased their price target 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. Piper Sandler reissued an “overweight” rating and set a $18.00 price objective (down previously from $20.00) on shares of Wolfspeed in a research report on Thursday, November 7th. JPMorgan Chase & Co. decreased their target price on Wolfspeed from $20.00 to $17.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. Finally, The Goldman Sachs Group cut their price target on Wolfspeed from $19.00 to $17.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average 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.