Wolfspeed (NYSE:WOLF) Upgraded to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Wolfspeed (NYSE:WOLF) from a sell rating to a hold rating in a research report sent to investors on Saturday morning.

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

Wolfspeed Stock Down 3.8%

Wolfspeed stock opened at $31.20 on Friday. Wolfspeed has a 52-week low of $8.05 and a 52-week high of $36.60. The firm has a market capitalization of $806.21 million and a price-to-earnings ratio of -2.77. The company has a fifty day simple moving average of $9.88 and a 200-day simple moving average of $4.75.

Institutional Trading of Wolfspeed

Several hedge funds have recently made changes to their positions in WOLF. GAMMA Investing LLC raised its holdings in Wolfspeed by 593.7% in the first quarter. GAMMA Investing LLC now owns 52,503 shares of the company’s stock valued at $161,000 after acquiring an additional 44,934 shares in the last quarter. Yousif Capital Management LLC boosted 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 purchasing an additional 8,137 shares in the last quarter. State of Alaska Department of Revenue boosted 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 purchasing an additional 13,618 shares in the last quarter. PFG Investments LLC acquired a new position in shares of Wolfspeed during the 1st quarter worth $344,000. Finally, Asset Management One Co. Ltd. raised its stake in shares of Wolfspeed by 372.0% during the 1st quarter. Asset Management One Co. Ltd. now owns 31,404 shares of the company’s stock worth $96,000 after buying an additional 24,751 shares during the last quarter.

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.