Wolfspeed, Inc. (NYSE:WOLF) Shares Sold by Janus Henderson Group PLC

Janus Henderson Group PLC lowered its position in Wolfspeed, Inc. (NYSE:WOLF - Free Report) by 81.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 135,376 shares of the company's stock after selling 584,956 shares during the period. Janus Henderson Group PLC owned about 0.11% of Wolfspeed worth $1,313,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Eastern Bank acquired a new stake in Wolfspeed in the 3rd quarter valued at $27,000. GAMMA Investing LLC grew its position in shares of Wolfspeed by 416.4% in the third quarter. GAMMA Investing LLC now owns 4,544 shares of the company's stock valued at $44,000 after purchasing an additional 3,664 shares during the period. Signaturefd LLC increased its stake in shares of Wolfspeed by 284.3% during the second quarter. Signaturefd LLC now owns 2,087 shares of the company's stock worth $48,000 after purchasing an additional 1,544 shares in the last quarter. Asset Management One Co. Ltd. raised its position in shares of Wolfspeed by 69.0% during the 3rd quarter. Asset Management One Co. Ltd. now owns 7,067 shares of the company's stock worth $69,000 after purchasing an additional 2,885 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Wolfspeed during the 2nd quarter worth about $75,000.

Insider Transactions at Wolfspeed

In other Wolfspeed news, Director Darren R. Jackson purchased 36,975 shares of the firm's stock in a transaction on Wednesday, November 20th. The stock was bought at an average price of $6.76 per share, with a total value of $249,951.00. Following the transaction, the director now directly owns 85,996 shares of the company's stock, valued at approximately $581,332.96. This represents a 75.43 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Thomas H. Werner acquired 37,500 shares of the business's stock in a transaction dated Wednesday, November 20th. The shares were bought at an average cost of $6.53 per share, for a total transaction of $244,875.00. Following the transaction, the chairman now directly owns 108,549 shares of the company's stock, valued at approximately $708,824.97. This trade represents a 52.78 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 78,067 shares of company stock worth $524,747. 0.84% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on WOLF shares. Deutsche Bank Aktiengesellschaft lowered their price objective on Wolfspeed from $17.00 to $14.00 and set a "hold" rating on the stock in a report on Thursday, August 22nd. TD Cowen dropped their price target on Wolfspeed from $25.00 to $15.00 and set a "hold" rating for the company in a research report on Thursday, August 22nd. Canaccord Genuity Group decreased their price objective on Wolfspeed from $25.00 to $18.00 and set a "buy" rating on the stock in a report on Thursday, November 7th. Mizuho lowered their target price on shares of Wolfspeed from $10.00 to $6.00 and set an "underperform" rating on the stock in a research note on Tuesday, November 19th. Finally, Roth Mkm reduced their target price on shares of Wolfspeed from $25.00 to $20.00 and set a "buy" rating for the company in a research report on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $17.21.

Wolfspeed Trading Up 2.1 %

Shares of NYSE WOLF traded up $0.17 during midday trading on Friday, reaching $8.25. 9,103,811 shares of the stock were exchanged, compared to its average volume of 7,368,530. The stock has a market capitalization of $1.05 billion, a P/E ratio of -1.39 and a beta of 1.38. The company has a debt-to-equity ratio of 9.82, a quick ratio of 2.54 and a current ratio of 3.14. The company has a 50 day simple moving average of $10.88 and a 200 day simple moving average of $15.06. Wolfspeed, Inc. has a twelve month low of $6.10 and a twelve month high of $47.43.

About Wolfspeed

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.