185,176 Shares in Wolfspeed, Inc. $WOLF Acquired by Ground Swell Capital LLC

Key Points

• Ground Swell Capital LLC acquired 185,176 shares of Wolfspeed, Inc. (NYSE: WOLF), valued at approximately $74,000, representing about 0.12% ownership by the end of the quarter.
• Several institutional investors have increased their stakes in Wolfspeed, with notable increases including PNC Financial Services Group raising its position by 40.3% during the first quarter.
• Analysts have mixed sentiments on Wolfspeed, with Susquehanna raising the target price to $30, while Weiss Ratings restated a "sell" rating, reflecting a divergence in outlook within the investment community.

Ground Swell Capital LLC bought a new stake in shares of Wolfspeed, Inc. (NYSE:WOLF - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 185,176 shares of the company's stock, valued at approximately $74,000. Ground Swell Capital LLC owned about 0.12% of Wolfspeed at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in WOLF. Victory Capital Management Inc. grew its position in shares of Wolfspeed by 12.4% during the 1st quarter. Victory Capital Management Inc. now owns 26,562 shares of the company's stock valued at $81,000 after acquiring an additional 2,922 shares during the period. Mutual of America Capital Management LLC lifted its position in Wolfspeed by 17.1% during the first quarter. Mutual of America Capital Management LLC now owns 22,653 shares of the company's stock valued at $69,000 after purchasing an additional 3,308 shares in the last quarter. SBI Securities Co. Ltd. increased its position in Wolfspeed by 39.7% in the first quarter. SBI Securities Co. Ltd. now owns 15,592 shares of the company's stock worth $48,000 after buying an additional 4,429 shares in the last quarter. Oregon Public Employees Retirement Fund raised its stake in shares of Wolfspeed by 18.7% in the first quarter. Oregon Public Employees Retirement Fund now owns 35,600 shares of the company's stock worth $109,000 after buying an additional 5,600 shares during the period. Finally, PNC Financial Services Group Inc. lifted its position in shares of Wolfspeed by 40.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 21,885 shares of the company's stock valued at $67,000 after buying an additional 6,287 shares in the last quarter.

Analysts Set New Price Targets

A number of research firms have commented on WOLF. Susquehanna raised their target price on shares of Wolfspeed to $30.00 and gave the stock a "neutral" rating in a research note on Wednesday. Weiss Ratings restated a "sell (e+)" rating on shares of Wolfspeed in a research note on Saturday, September 27th. Finally, Wall Street Zen upgraded Wolfspeed from a "sell" rating to a "hold" rating in a research note on Saturday, October 18th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and five have given a Sell rating to the company. According to MarketBeat, Wolfspeed presently has an average rating of "Reduce" and a consensus target price of $11.78.

Wolfspeed Stock Performance

WOLF stock opened at $29.43 on Friday. The company's fifty day moving average price is $12.15 and its 200-day moving average price is $5.48. Wolfspeed, Inc. has a one year low of $8.05 and a one year high of $36.60. The company has a market capitalization of $760.45 million and a PE ratio of -2.61.

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.

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