State of Alaska Department of Revenue Buys 13,265 Shares of Wolfspeed, Inc. $WOLF

Key Points

• The State of Alaska Department of Revenue increased its stake in Wolfspeed, Inc. by 15.4%, acquiring an additional 13,265 shares, bringing its total holdings to 99,465 shares valued at approximately $38,000.
• In the first quarter, multiple institutional investors also raised their positions in Wolfspeed, with PNC Financial Services Group Inc. notably increasing its holdings by 40.3%.
• Wolfspeed's stock currently has a market capitalization of approximately $809.83 million, with a PE ratio of -2.78, and an average price target set at $9.80 by analysts.

State of Alaska Department of Revenue increased its stake in Wolfspeed, Inc. (NYSE:WOLF - Free Report) by 15.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 99,465 shares of the company's stock after acquiring an additional 13,265 shares during the period. State of Alaska Department of Revenue owned about 0.06% of Wolfspeed worth $38,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of WOLF. Victory Capital Management Inc. lifted its position in Wolfspeed by 12.4% in 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 in the last quarter. Mutual of America Capital Management LLC lifted its position in Wolfspeed by 17.1% in the 1st quarter. Mutual of America Capital Management LLC now owns 22,653 shares of the company's stock valued at $69,000 after acquiring an additional 3,308 shares in the last quarter. SBI Securities Co. Ltd. lifted its position in Wolfspeed by 39.7% in the 1st quarter. SBI Securities Co. Ltd. now owns 15,592 shares of the company's stock valued at $48,000 after acquiring an additional 4,429 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its position in Wolfspeed by 18.7% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 35,600 shares of the company's stock valued at $109,000 after acquiring an additional 5,600 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings 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 during the period.

Wolfspeed Stock Performance

Shares of WOLF stock opened at $31.34 on Friday. Wolfspeed, Inc. has a 52-week low of $8.05 and a 52-week high of $36.60. The firm has a market capitalization of $809.83 million and a PE ratio of -2.78. The stock has a fifty day simple moving average of $6.80 and a two-hundred day simple moving average of $3.75.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a "sell (e+)" rating on shares of Wolfspeed in a report on Saturday, September 27th. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Reduce" and an average price target of $9.80.

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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