Virtu Financial LLC Buys 36,105 Shares of Wolfspeed, Inc. (NYSE:WOLF)

Virtu Financial LLC increased its position in Wolfspeed, Inc. (NYSE:WOLF) by 160.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 58,560 shares of the company’s stock after purchasing an additional 36,105 shares during the quarter. Virtu Financial LLC’s holdings in Wolfspeed were worth $568,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of WOLF. Two Sigma Advisers LP lifted its holdings in shares of Wolfspeed by 813.6% in the 3rd quarter. Two Sigma Advisers LP now owns 2,458,600 shares of the company’s stock worth $23,848,000 after buying an additional 2,189,500 shares during the period. Primecap Management Co. CA raised its holdings in shares of Wolfspeed by 15.3% in the second quarter. Primecap Management Co. CA now owns 6,045,310 shares of the company’s stock valued at $137,591,000 after acquiring an additional 800,540 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Wolfspeed by 1,158.0% in the third 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 period. Erste Asset Management GmbH bought a new position in Wolfspeed during the 3rd quarter worth about $4,542,000. Finally, Iridian Asset Management LLC CT increased its position in Wolfspeed by 319.9% during the 3rd quarter. Iridian Asset Management LLC CT now owns 521,158 shares of the company’s stock valued at $5,055,000 after purchasing an additional 397,057 shares during the period.

Wolfspeed Stock Up 2.1 %

WOLF stock opened at $8.25 on Friday. The stock has a market capitalization of $1.05 billion, a PE ratio of -1.39 and a beta of 1.38. Wolfspeed, Inc. has a 52 week low of $6.10 and a 52 week high of $47.43. The company has a quick ratio of 2.54, a current ratio of 3.14 and a debt-to-equity ratio of 9.82. The firm has a 50 day moving average of $10.88 and a 200 day moving average of $15.06.

Insiders Place Their Bets

In other Wolfspeed 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 acquisition, the chairman now owns 108,549 shares in the company, valued at $708,824.97. This represents a 52.78 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Glenda Dorchak purchased 3,592 shares of Wolfspeed stock in a transaction on Friday, November 22nd. The shares were acquired at an average cost of $8.33 per share, with a total value of $29,921.36. Following the completion of the transaction, the director now directly owns 18,688 shares in the company, valued at $155,671.04. The trade was a 23.79 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 78,067 shares of company stock valued at $524,747. Insiders own 0.84% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on WOLF shares. Susquehanna lowered their price target on shares of Wolfspeed from $16.00 to $11.00 and set a “neutral” rating for the company in a research report on Thursday, November 7th. JPMorgan Chase & Co. lowered their target price on Wolfspeed from $20.00 to $17.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft cut their price target on Wolfspeed from $17.00 to $14.00 and set a “hold” rating on the stock in a report on Thursday, August 22nd. TD Cowen decreased their price objective on Wolfspeed from $25.00 to $15.00 and set a “hold” rating for the company in a research note on Thursday, August 22nd. Finally, Morgan Stanley lifted their target price on Wolfspeed from $10.00 to $15.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $17.21.

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.