Nuveen LLC bought a new stake in Wolfspeed (NYSE:WOLF - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 451,818 shares of the company's stock, valued at approximately $1,365,000. Nuveen LLC owned approximately 0.35% of Wolfspeed as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Wolfspeed by 18.8% in the first quarter. Vanguard Group Inc. now owns 18,913,793 shares of the company's stock valued at $57,876,000 after purchasing an additional 2,989,503 shares in the last quarter. Primecap Management Co. CA grew its position in Wolfspeed by 2.2% in the first quarter. Primecap Management Co. CA now owns 6,665,270 shares of the company's stock valued at $20,396,000 after purchasing an additional 146,106 shares in the last quarter. Frontier Capital Management Co. LLC grew its position in Wolfspeed by 94.2% in the fourth quarter. Frontier Capital Management Co. LLC now owns 2,050,778 shares of the company's stock valued at $13,658,000 after purchasing an additional 995,020 shares in the last quarter. Voloridge Investment Management LLC grew its position in Wolfspeed by 0.7% in the fourth quarter. Voloridge Investment Management LLC now owns 1,915,695 shares of the company's stock valued at $12,759,000 after purchasing an additional 12,660 shares in the last quarter. Finally, South Dakota Investment Council grew its position in Wolfspeed by 121.8% in the first quarter. South Dakota Investment Council now owns 1,591,056 shares of the company's stock valued at $4,869,000 after purchasing an additional 873,574 shares in the last quarter.
Wolfspeed Stock Performance
Shares of NYSE WOLF traded up $0.02 during mid-day trading on Wednesday, reaching $1.31. 5,496,239 shares of the company were exchanged, compared to its average volume of 37,079,316. The company's 50-day simple moving average is $1.38 and its 200-day simple moving average is $2.73. The company has a quick ratio of 3.90, a current ratio of 0.36 and a debt-to-equity ratio of 30.65. The stock has a market capitalization of $204.19 million, a P/E ratio of -0.12 and a beta of 1.29. Wolfspeed has a twelve month low of $0.39 and a twelve month high of $17.45.
Wall Street Analysts Forecast Growth
A number of research analysts recently weighed in on the stock. Citigroup reaffirmed a "sell" rating and issued a $3.00 target price (down previously from $7.00) on shares of Wolfspeed in a research report on Friday, May 9th. Piper Sandler cut their price target on shares of Wolfspeed from $10.00 to $6.00 and set an "overweight" rating for the company in a research note on Friday, May 9th. Finally, JPMorgan Chase & Co. reiterated an "underweight" rating on shares of Wolfspeed in a research note on Friday, May 9th. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, Wolfspeed presently has a consensus rating of "Hold" and an average price target of $9.80.
Read Our Latest Stock Analysis on WOLF
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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