Wolfspeed, Inc. (NYSE:WOLF) Holdings Boosted by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Wolfspeed, Inc. (NYSE:WOLF) by 9.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 146,014 shares of the company’s stock after purchasing an additional 12,839 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned 0.11% of Wolfspeed worth $1,416,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Primecap Management Co. CA lifted its stake in Wolfspeed by 15.3% in the 2nd quarter. Primecap Management Co. CA now owns 6,045,310 shares of the company’s stock worth $137,591,000 after acquiring an additional 800,540 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in Wolfspeed by 1,158.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 833,201 shares of the company’s stock valued at $8,082,000 after acquiring an additional 766,971 shares in the last quarter. Iridian Asset Management LLC CT increased its holdings in shares of Wolfspeed by 319.9% in the 3rd quarter. Iridian Asset Management LLC CT now owns 521,158 shares of the company’s stock valued at $5,055,000 after purchasing an additional 397,057 shares during the period. Samlyn Capital LLC lifted its position in shares of Wolfspeed by 51.6% in the second quarter. Samlyn Capital LLC now owns 1,009,137 shares of the company’s stock worth $22,968,000 after purchasing an additional 343,277 shares in the last quarter. Finally, Yong Rong HK Asset Management Ltd purchased a new stake in shares of Wolfspeed in the third quarter worth approximately $2,988,000.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on WOLF. Morgan Stanley upped their price objective on shares of Wolfspeed from $10.00 to $15.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Susquehanna cut their price objective on Wolfspeed from $16.00 to $11.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. Roth Mkm lowered their target price on Wolfspeed from $25.00 to $20.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. TD Cowen dropped their target price on Wolfspeed from $25.00 to $15.00 and set a “hold” rating on the stock in a research report on Thursday, August 22nd. Finally, The Goldman Sachs Group reduced their price target on Wolfspeed from $22.00 to $19.00 and set a “buy” rating for the company in a 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.com, the company has a consensus rating of “Hold” and an average price target of $17.21.

Wolfspeed Trading Up 7.4 %

Shares of WOLF stock opened at $9.58 on Monday. The business’s 50 day moving average is $10.78 and its two-hundred day moving average is $16.23. The company has a quick ratio of 2.54, a current ratio of 3.14 and a debt-to-equity ratio of 9.82. Wolfspeed, Inc. has a 12 month low of $6.10 and a 12 month high of $47.43. The company has a market cap of $1.22 billion, a PE ratio of -1.61 and a beta of 1.46.

Insider Activity at Wolfspeed

In other Wolfspeed news, Director Glenda Dorchak purchased 3,592 shares of the stock in a transaction dated Friday, November 22nd. The shares were bought at an average cost of $8.33 per share, with a total value of $29,921.36. Following the completion of the transaction, the director now owns 18,688 shares in the company, valued at $155,671.04. This trade represents a 23.79 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Thomas H. Werner acquired 37,500 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was acquired at an average price of $6.53 per share, for a total transaction of $244,875.00. Following the completion of the purchase, the chairman now directly owns 108,549 shares of the company’s stock, valued at $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 bought 78,067 shares of company stock worth $524,747. 0.84% of the stock is owned by insiders.

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.