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

Inspire Investing LLC grew its position in shares of Wolfspeed, Inc. (NYSE:WOLF) by 42.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 60,927 shares of the company’s stock after purchasing an additional 18,021 shares during the period. Inspire Investing LLC’s holdings in Wolfspeed were worth $406,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Primecap Management Co. CA lifted its stake in Wolfspeed by 5.0% in the third quarter. Primecap Management Co. CA now owns 6,349,180 shares of the company’s stock worth $61,587,000 after purchasing an additional 303,870 shares during the last quarter. Two Sigma Advisers LP boosted its holdings in Wolfspeed by 813.6% during the 3rd quarter. Two Sigma Advisers LP now owns 2,458,600 shares of the company’s stock valued at $23,848,000 after acquiring an additional 2,189,500 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Wolfspeed by 2.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 871,191 shares of the company’s stock valued at $8,451,000 after acquiring an additional 21,143 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its position in Wolfspeed by 1,158.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 833,201 shares of the company’s stock worth $8,082,000 after acquiring an additional 766,971 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Wolfspeed by 30.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 637,581 shares of the company’s stock worth $14,513,000 after purchasing an additional 149,093 shares during the period.

Wolfspeed Price Performance

WOLF opened at $6.62 on Friday. The company has a current ratio of 3.14, a quick ratio of 2.54 and a debt-to-equity ratio of 9.82. The company has a market cap of $844.80 million, a price-to-earnings ratio of -1.11 and a beta of 1.43. The stock has a fifty day simple moving average of $7.53 and a two-hundred day simple moving average of $11.13. Wolfspeed, Inc. has a 12-month low of $4.66 and a 12-month high of $35.84.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on WOLF shares. Morgan Stanley increased their price objective on Wolfspeed from $10.00 to $15.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. The Goldman Sachs Group cut their price target on shares of Wolfspeed from $19.00 to $17.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. JPMorgan Chase & Co. lowered their price objective on shares of Wolfspeed from $20.00 to $17.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. Mizuho cut their target price on Wolfspeed from $10.00 to $6.00 and set an “underperform” rating on the stock in a research note on Tuesday, November 19th. Finally, Susquehanna reduced their price target on Wolfspeed from $11.00 to $7.00 and set a “neutral” rating on the stock in a report on Wednesday. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $16.79.

Insider Buying and Selling

In related news, Chairman Thomas H. Werner purchased 37,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were bought at an average price of $6.53 per share, for a total transaction of $244,875.00. Following the purchase, the chairman now directly owns 108,549 shares of the company’s stock, valued at approximately $708,824.97. This represents a 52.78 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Darren R. Jackson acquired 36,975 shares of the stock in a transaction on Wednesday, November 20th. The shares were bought at an average price 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 $581,332.96. The trade was a 75.43 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 78,067 shares of company stock worth $524,747 in the last three months. 0.84% of the stock is owned by corporate insiders.

Wolfspeed 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.