Praxis Investment Management Inc. Acquires Shares of 102,720 Wolfspeed, Inc. $WOLF

Key Points

• Praxis Investment Management Inc. acquired 102,720 shares of Wolfspeed, Inc. for approximately $41,000, owning 0.07% of the company at the end of the reporting period.
• Multiple institutional investors, including GAMMA Investing LLC and Asset Management One Co. Ltd., significantly increased their stakes in Wolfspeed during the first quarter.
• Wolfspeed's stock currently has a consensus target price of $9.22, with a mixed analyst rating trend including four buy, one hold, and five sell ratings.

Praxis Investment Management Inc. bought a new stake in Wolfspeed, Inc. (NYSE:WOLF - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 102,720 shares of the company's stock, valued at approximately $41,000. Praxis Investment Management Inc. owned 0.07% of Wolfspeed at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in WOLF. GAMMA Investing LLC grew its stake in shares of Wolfspeed by 593.7% during the 1st quarter. GAMMA Investing LLC now owns 52,503 shares of the company's stock worth $161,000 after acquiring an additional 44,934 shares during the period. Yousif Capital Management LLC lifted its holdings in Wolfspeed by 16.8% during the first quarter. Yousif Capital Management LLC now owns 56,559 shares of the company's stock valued at $173,000 after purchasing an additional 8,137 shares during the last quarter. State of Alaska Department of Revenue boosted its position in Wolfspeed by 18.8% during the first quarter. State of Alaska Department of Revenue now owns 86,200 shares of the company's stock worth $263,000 after purchasing an additional 13,618 shares during the period. PFG Investments LLC bought a new position in Wolfspeed during the first quarter worth about $344,000. Finally, Asset Management One Co. Ltd. increased its stake in shares of Wolfspeed by 372.0% in the first quarter. Asset Management One Co. Ltd. now owns 31,404 shares of the company's stock worth $96,000 after purchasing an additional 24,751 shares in the last quarter.

Wolfspeed Price Performance

Shares of NYSE:WOLF opened at $31.20 on Monday. The firm has a fifty day moving average price of $9.88 and a two-hundred day moving average price of $4.76. The company has a market cap of $806.21 million and a price-to-earnings ratio of -2.77. Wolfspeed, Inc. has a one year low of $8.05 and a one year high of $36.60.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on WOLF shares. Weiss Ratings restated a "sell (e+)" rating on shares of Wolfspeed in a research note on Saturday, September 27th. Wall Street Zen raised Wolfspeed from a "sell" rating to a "hold" rating in a report on Saturday. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and five have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Reduce" and a consensus target price of $9.22.

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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