Shah Capital Management purchased a new position in Wolfspeed (NYSE:WOLF - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 2,152,225 shares of the company's stock, valued at approximately $6,586,000. Wolfspeed comprises approximately 1.3% of Shah Capital Management's portfolio, making the stock its 11th largest position. Shah Capital Management owned 1.69% of Wolfspeed as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also recently made changes to their positions in the company. Cladis Investment Advisory LLC acquired a new stake in shares of Wolfspeed in the first quarter worth approximately $49,000. Fox Run Management L.L.C. acquired a new stake in shares of Wolfspeed in the first quarter worth approximately $234,000. Neuberger Berman Group LLC boosted its stake in shares of Wolfspeed by 72.7% in the first quarter. Neuberger Berman Group LLC now owns 4,329,584 shares of the company's stock worth $13,723,000 after acquiring an additional 1,822,958 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its stake in shares of Wolfspeed by 1,067.6% in the first quarter. Caitong International Asset Management Co. Ltd now owns 297,623 shares of the company's stock worth $911,000 after acquiring an additional 272,132 shares during the last quarter. Finally, Bulltick Wealth Management LLC acquired a new stake in shares of Wolfspeed in the first quarter worth approximately $85,000.
Wolfspeed Stock Performance
NYSE:WOLF opened at $1.4030 on Wednesday. The company has a debt-to-equity ratio of 30.65, a quick ratio of 3.90 and a current ratio of 4.64. The stock has a market capitalization of $218.35 million, a P/E ratio of -0.17 and a beta of 1.23. The company has a 50 day moving average price of $1.33 and a 200 day moving average price of $3.03. Wolfspeed has a fifty-two week low of $0.3876 and a fifty-two week high of $17.4475.
Wall Street Analyst Weigh In
WOLF has been the topic of a number of recent research reports. Piper Sandler lowered their price objective on Wolfspeed from $10.00 to $6.00 and set an "overweight" rating on the stock in a research note on Friday, May 9th. JPMorgan Chase & Co. reissued an "underweight" rating on shares of Wolfspeed in a research note on Friday, May 9th. Finally, Citigroup reissued a "sell" rating and set a $3.00 price objective (down previously from $7.00) on shares of Wolfspeed in a research note on Friday, May 9th. Four investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and four have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $10.58.
Check Out Our Latest Stock Analysis on WOLF
About Wolfspeed
(
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.
Featured Stories
Want to see what other hedge funds are holding WOLF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wolfspeed (NYSE:WOLF - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Wolfspeed, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Wolfspeed wasn't on the list.
While Wolfspeed currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
We are about to experience the greatest A.I. boom in stock market history...
Thanks to a pivotal economic catalyst, specific tech stocks will skyrocket just like they did during the "dot com" boom in the 1990s.
That’s why, we’ve hand-selected 7 tiny tech disruptor stocks positioned to surge.
- The first pick is a tiny under-the-radar A.I. stock that's trading for just $3.00. This company already has 98 registered patents for cutting-edge voice and sound recognition technology... And has lined up major partnerships with some of the biggest names in the auto, tech, and music industry... plus many more.
- The second pick presents an affordable avenue to bolster EVs and AI development…. Analysts are calling this stock a “buy” right now and predict a high price target of $19.20, substantially more than its current $6 trading price.
- Our final and favorite pick is generating a brand-new kind of AI. It's believed this tech will be bigger than the current well-known leader in this industry… Analysts predict this innovative tech is gearing up to create a tidal wave of new wealth, fueling a $15.7 TRILLION market boom.
Right now, we’re staring down the barrel of a true once-in-a-lifetime moment. As an investment opportunity, this kind of breakthrough doesn't come along every day.
And the window to get in on the ground-floor — maximizing profit potential from this expected market surge — is closing quickly...
Simply enter your email below to get the names and tickers of the 7 small stocks with potential to make investors very, very happy.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
MarketBeat All Access