Vontobel Holding Ltd. Raises Stock Position in Wolfspeed, Inc. $WOLF

Vontobel Holding Ltd. lifted its stake in shares of Wolfspeed, Inc. (NYSE:WOLF) by 73.6% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 479,563 shares of the company’s stock after acquiring an additional 203,341 shares during the quarter. Vontobel Holding Ltd.’s holdings in Wolfspeed were worth $191,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of WOLF. GAMMA Investing LLC lifted its position in shares of Wolfspeed by 593.7% during the 1st quarter. GAMMA Investing LLC now owns 52,503 shares of the company’s stock worth $161,000 after buying an additional 44,934 shares during the last quarter. Rhumbline Advisers lifted its position in shares of Wolfspeed by 10.8% during the 1st quarter. Rhumbline Advisers now owns 342,505 shares of the company’s stock worth $1,048,000 after buying an additional 33,361 shares during the last quarter. Yousif Capital Management LLC lifted its position in shares of Wolfspeed by 16.8% during the 1st quarter. Yousif Capital Management LLC now owns 56,559 shares of the company’s stock worth $173,000 after buying an additional 8,137 shares during the last quarter. State of Alaska Department of Revenue lifted its position in shares of Wolfspeed by 18.8% during the 1st quarter. State of Alaska Department of Revenue now owns 86,200 shares of the company’s stock worth $263,000 after buying an additional 13,618 shares during the last quarter. Finally, Beacon Capital Management LLC purchased a new stake in Wolfspeed in the 1st quarter valued at $31,000.

Wolfspeed Stock Performance

Shares of Wolfspeed stock opened at $32.29 on Thursday. Wolfspeed, Inc. has a one year low of $8.05 and a one year high of $36.60. The company has a market cap of $834.45 million and a P/E ratio of -2.87. The firm has a fifty day moving average of $8.67 and a two-hundred day moving average of $4.33.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Wolfspeed in a research report on Saturday, September 27th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat, Wolfspeed currently has an average rating of “Reduce” and a consensus target price of $9.22.

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.