Wolfspeed, Inc. (NYSE:WOLF) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. lifted its stake in shares of Wolfspeed, Inc. (NYSE:WOLF) by 17.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 26,973 shares of the company’s stock after buying an additional 4,052 shares during the quarter. Victory Capital Management Inc.’s holdings in Wolfspeed were worth $1,174,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in WOLF. FengHe Fund Management Pte. Ltd. grew its position in shares of Wolfspeed by 438.9% during the fourth quarter. FengHe Fund Management Pte. Ltd. now owns 1,431,200 shares of the company’s stock worth $62,272,000 after buying an additional 1,165,600 shares in the last quarter. JANA Partners Management LP acquired a new position in Wolfspeed in the third quarter valued at approximately $35,662,000. Polar Capital Holdings Plc acquired a new position in Wolfspeed in the third quarter valued at approximately $16,200,000. UniSuper Management Pty Ltd boosted its holdings in Wolfspeed by 86.7% in the third quarter. UniSuper Management Pty Ltd now owns 703,822 shares of the company’s stock valued at $26,816,000 after purchasing an additional 326,810 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Wolfspeed by 1.5% in the third quarter. Vanguard Group Inc. now owns 12,471,667 shares of the company’s stock valued at $475,171,000 after purchasing an additional 188,236 shares in the last quarter.

Wolfspeed Price Performance

Wolfspeed stock opened at $25.53 on Monday. Wolfspeed, Inc. has a 12 month low of $20.63 and a 12 month high of $70.42. The company has a debt-to-equity ratio of 5.55, a current ratio of 4.58 and a quick ratio of 4.00. The business has a 50 day simple moving average of $26.18 and a 200-day simple moving average of $31.55. The stock has a market capitalization of $3.21 billion, a PE ratio of -3.95 and a beta of 1.64.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on WOLF shares. Canaccord Genuity Group lowered their price target on Wolfspeed from $50.00 to $47.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Mizuho lowered their price target on Wolfspeed from $30.00 to $27.00 and set a “neutral” rating for the company in a report on Thursday, May 2nd. Roth Mkm reaffirmed a “buy” rating and issued a $50.00 price target on shares of Wolfspeed in a report on Tuesday, April 30th. Susquehanna reduced their price objective on Wolfspeed from $25.00 to $23.00 and set a “neutral” rating for the company in a research note on Thursday, May 2nd. Finally, Piper Sandler reduced their price objective on Wolfspeed from $55.00 to $45.00 and set an “overweight” rating for the company in a research note on Thursday, February 1st. One analyst has rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Wolfspeed presently has an average rating of “Hold” and an average price target of $36.29.

Wolfspeed Company Profile

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.