Marshall Wace LLP Sells 495,254 Shares of Wolfspeed, Inc. (NYSE:WOLF)

Marshall Wace LLP reduced its position in Wolfspeed, Inc. (NYSE:WOLF - Free Report) by 83.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 96,460 shares of the company's stock after selling 495,254 shares during the quarter. Marshall Wace LLP owned approximately 0.08% of Wolfspeed worth $642,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of WOLF. Vanguard Group Inc. raised its stake in shares of Wolfspeed by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 15,924,290 shares of the company's stock valued at $106,056,000 after buying an additional 299,304 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Wolfspeed by 38.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,207,157 shares of the company's stock worth $8,040,000 after purchasing an additional 335,966 shares in the last quarter. South Dakota Investment Council raised its position in Wolfspeed by 26.4% in the fourth quarter. South Dakota Investment Council now owns 717,482 shares of the company's stock worth $4,778,000 after purchasing an additional 149,648 shares in the last quarter. Primecap Management Co. CA boosted its holdings in Wolfspeed by 2.7% during the fourth quarter. Primecap Management Co. CA now owns 6,519,164 shares of the company's stock valued at $43,418,000 after purchasing an additional 169,984 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of Wolfspeed by 41.4% in the 3rd quarter. Principal Financial Group Inc. now owns 592,599 shares of the company's stock valued at $5,748,000 after purchasing an additional 173,409 shares during the period.

Analyst Upgrades and Downgrades

WOLF has been the topic of several recent analyst reports. Canaccord Genuity Group decreased their price target on Wolfspeed from $18.00 to $10.00 and set a "buy" rating on the stock in a research note on Thursday, January 30th. Piper Sandler lowered their target price on shares of Wolfspeed from $18.00 to $10.00 and set an "overweight" rating on the stock in a report on Thursday, January 30th. StockNews.com raised shares of Wolfspeed to a "sell" rating in a research note on Monday, January 6th. Susquehanna cut their target price on shares of Wolfspeed from $11.00 to $7.00 and set a "neutral" rating for the company in a research note on Wednesday, January 22nd. Finally, The Goldman Sachs Group reduced their target price on Wolfspeed from $15.00 to $8.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $12.17.

Wolfspeed Trading Down 8.3 %

Wolfspeed stock traded down $0.37 during trading hours on Monday, reaching $4.09. 38,631,315 shares of the company's stock traded hands, compared to its average volume of 14,143,684. The firm has a market capitalization of $522.35 million, a price-to-earnings ratio of -0.53 and a beta of 1.62. The company has a debt-to-equity ratio of 17.26, a quick ratio of 2.47 and a current ratio of 3.15. Wolfspeed, Inc. has a fifty-two week low of $2.06 and a fifty-two week high of $30.86. The firm's 50 day moving average is $4.04 and its 200-day moving average is $6.80.

Insider Activity at Wolfspeed

In other Wolfspeed news, CFO Neill Reynolds sold 13,909 shares of the stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $3.99, for a total value of $55,496.91. Following the transaction, the chief financial officer now owns 195,257 shares of the company's stock, valued at approximately $779,075.43. This represents a 6.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.84% of the stock is currently owned by company insiders.

Wolfspeed Company 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.