Wolfspeed, Inc. (NYSE:WOLF) Chairman Thomas H. Werner Acquires 37,500 Shares

Wolfspeed, Inc. (NYSE:WOLF) Chairman Thomas H. Werner acquired 37,500 shares of Wolfspeed stock in a transaction dated Wednesday, November 20th. The stock was purchased at an average cost of $6.53 per share, for a total transaction of $244,875.00. Following the completion of the purchase, the chairman now owns 108,549 shares in the company, valued at approximately $708,824.97. The trade was a 52.78 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Wolfspeed Stock Performance

WOLF opened at $8.44 on Friday. The company has a current ratio of 3.14, a quick ratio of 2.54 and a debt-to-equity ratio of 9.82. The company’s fifty day moving average price is $10.71 and its two-hundred day moving average price is $16.94. Wolfspeed, Inc. has a 1-year low of $6.10 and a 1-year high of $47.43. The company has a market cap of $1.08 billion, a price-to-earnings ratio of -1.42 and a beta of 1.46.

Wolfspeed (NYSE:WOLF) last released its quarterly earnings data on Wednesday, August 21st. The company reported ($1.06) earnings per share for the quarter, missing the consensus estimate of ($1.03) by ($0.03). Wolfspeed had a negative return on equity of 49.86% and a negative net margin of 93.31%. The business had revenue of $200.70 million for the quarter, compared to analyst estimates of $201.11 million. On average, analysts expect that Wolfspeed, Inc. will post -4.13 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Mizuho reduced their price objective on shares of Wolfspeed from $10.00 to $6.00 and set an “underperform” rating on the stock in a research note on Tuesday. JPMorgan Chase & Co. cut their target price on shares of Wolfspeed from $20.00 to $17.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. The Goldman Sachs Group cut their target price on shares of Wolfspeed from $22.00 to $19.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. New Street Research lowered shares of Wolfspeed from a “buy” rating to a “neutral” rating and set a $18.00 target price on the stock. in a research note on Wednesday, August 7th. Finally, Bank of America cut their target price on shares of Wolfspeed from $25.00 to $15.00 and set an “underperform” rating on the stock in a research note on Friday, August 23rd. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $17.21.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Mather Group LLC. raised its holdings in Wolfspeed by 385.5% during the second quarter. Mather Group LLC. now owns 1,175 shares of the company’s stock worth $27,000 after buying an additional 933 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in shares of Wolfspeed by 64.8% in the first quarter. Advisors Asset Management Inc. now owns 1,757 shares of the company’s stock valued at $52,000 after purchasing an additional 691 shares during the last quarter. Signaturefd LLC raised its holdings in shares of Wolfspeed by 284.3% in the second quarter. Signaturefd LLC now owns 2,087 shares of the company’s stock valued at $48,000 after purchasing an additional 1,544 shares during the last quarter. Eastern Bank purchased a new stake in shares of Wolfspeed in the third quarter valued at about $27,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Wolfspeed in the second quarter valued at about $75,000.

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.