Truist Financial Corp Lowers Stock Holdings in Wolfspeed, Inc. (NYSE:WOLF)

Truist Financial Corp trimmed its holdings in shares of Wolfspeed, Inc. (NYSE:WOLFFree Report) by 30.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 5,415 shares of the company’s stock after selling 2,423 shares during the period. Truist Financial Corp’s holdings in Wolfspeed were worth $236,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in WOLF. Independence Bank of Kentucky lifted its holdings in shares of Wolfspeed by 97.0% during the fourth quarter. Independence Bank of Kentucky now owns 711 shares of the company’s stock valued at $31,000 after purchasing an additional 350 shares during the last quarter. Rakuten Securities Inc. purchased a new position in Wolfspeed in the 4th quarter worth approximately $48,000. GAMMA Investing LLC purchased a new position in Wolfspeed in the 4th quarter worth approximately $56,000. Aspire Private Capital LLC purchased a new position in Wolfspeed in the 3rd quarter worth approximately $76,000. Finally, Banque Cantonale Vaudoise purchased a new position in Wolfspeed in the 3rd quarter worth approximately $126,000.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on WOLF shares. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Wolfspeed from $30.00 to $25.00 and set a “hold” rating for the company in a report on Tuesday, May 7th. Mizuho cut their target price on shares of Wolfspeed from $30.00 to $27.00 and set a “neutral” rating for the company in a research report on Thursday, May 2nd. JPMorgan Chase & Co. cut their target price on shares of Wolfspeed from $43.00 to $35.00 and set a “neutral” rating for the company in a research report on Thursday, April 11th. Canaccord Genuity Group cut their target price on shares of Wolfspeed from $50.00 to $47.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Finally, Susquehanna cut their price objective on shares of Wolfspeed from $25.00 to $23.00 and set a “neutral” rating for the company in a research report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Wolfspeed has a consensus rating of “Hold” and an average price target of $36.29.

Get Our Latest Stock Analysis on Wolfspeed

Wolfspeed Trading Up 2.1 %

Shares of Wolfspeed stock opened at $26.78 on Wednesday. The company has a market capitalization of $3.37 billion, a P/E ratio of -4.15 and a beta of 1.64. The company has a debt-to-equity ratio of 5.55, a quick ratio of 4.00 and a current ratio of 4.58. The company has a fifty day moving average of $26.10 and a 200 day moving average of $31.43. Wolfspeed, Inc. has a fifty-two week low of $20.63 and a fifty-two week high of $70.42.

Wolfspeed Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Wolfspeed (NYSE:WOLF)

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