Wolfspeed, Inc. (NYSE:WOLF) Director Duy Loan T. Le Acquires 2,000 Shares

Wolfspeed, Inc. (NYSE:WOLFGet Rating) Director Duy Loan T. Le purchased 2,000 shares of the firm’s stock in a transaction dated Friday, November 18th. The stock was acquired at an average price of $91.04 per share, for a total transaction of $182,080.00. Following the purchase, the director now owns 29,662 shares in the company, valued at approximately $2,700,428.48. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Wolfspeed Trading Down 3.1 %

NYSE WOLF opened at $88.18 on Tuesday. The company has a market cap of $10.95 billion, a price-to-earnings ratio of -67.31 and a beta of 1.36. The company has a debt-to-equity ratio of 0.62, a current ratio of 4.61 and a quick ratio of 3.97. The company has a 50-day moving average of $97.66. Wolfspeed, Inc. has a 12 month low of $58.07 and a 12 month high of $139.21.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on WOLF shares. JPMorgan Chase & Co. decreased their price target on Wolfspeed from $150.00 to $125.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 1st. Morgan Stanley reduced their price objective on Wolfspeed from $106.00 to $88.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 27th. Cowen reduced their price objective on Wolfspeed from $125.00 to $100.00 and set an “outperform” rating on the stock in a research report on Thursday, October 27th. Evercore ISI reduced their price objective on Wolfspeed to $115.00 in a research report on Tuesday, November 15th. Finally, BMO Capital Markets reduced their price objective on Wolfspeed from $100.00 to $85.00 and set a “market perform” rating on the stock in a research report on Thursday, October 27th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Wolfspeed has a consensus rating of “Moderate Buy” and an average target price of $106.06.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Sunbelt Securities Inc. acquired a new position in shares of Wolfspeed in the 3rd quarter valued at about $207,000. D L Carlson Investment Group Inc. lifted its stake in shares of Wolfspeed by 11.7% in the 3rd quarter. D L Carlson Investment Group Inc. now owns 210,496 shares of the company’s stock valued at $21,757,000 after purchasing an additional 22,119 shares during the period. Future Fund LLC acquired a new position in shares of Wolfspeed in the 3rd quarter valued at about $217,000. M&T Bank Corp lifted its stake in shares of Wolfspeed by 10.3% in the 3rd quarter. M&T Bank Corp now owns 5,745 shares of the company’s stock valued at $594,000 after purchasing an additional 535 shares during the period. Finally, Captrust Financial Advisors lifted its stake in shares of Wolfspeed by 35.6% in the 3rd quarter. Captrust Financial Advisors now owns 7,961 shares of the company’s stock valued at $823,000 after purchasing an additional 2,092 shares during the period.

Wolfspeed Company Profile

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Wolfspeed, Inc is an innovator of Wolfspeed power and radio frequency (RF) semiconductors. Its Wolfspeed product families include silicon carbide materials, power-switching devices and RF devices targeted for applications such as electric vehicles, fast charging inverters, power supplies, telecom and military and aerospace.

Further Reading

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