Global X Japan Co. Ltd. Purchases 4,941 Shares of Wolfspeed, Inc. (NYSE:WOLF)

Global X Japan Co. Ltd. raised its holdings in Wolfspeed, Inc. (NYSE:WOLF) by 51.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,523 shares of the company’s stock after buying an additional 4,941 shares during the period. Global X Japan Co. Ltd.’s holdings in Wolfspeed were worth $331,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Victory Capital Management Inc. increased its stake in shares of Wolfspeed by 17.7% during the fourth quarter. Victory Capital Management Inc. now owns 26,973 shares of the company’s stock worth $1,174,000 after purchasing an additional 4,052 shares during the period. M&T Bank Corp bought a new stake in shares of Wolfspeed during the 4th quarter valued at $761,000. Charles Schwab Investment Management Inc. increased its position in shares of Wolfspeed by 4.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 809,600 shares of the company’s stock worth $35,226,000 after purchasing an additional 34,865 shares during the period. Dimensional Fund Advisors LP raised its stake in Wolfspeed by 13.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 665,817 shares of the company’s stock valued at $28,976,000 after purchasing an additional 78,071 shares in the last quarter. Finally, Avantax Advisory Services Inc. acquired a new stake in shares of Wolfspeed during the 4th quarter worth approximately $201,000.

Wolfspeed Trading Down 7.7 %

Wolfspeed stock opened at $7.60 on Tuesday. The business has a 50-day simple moving average of $16.50 and a two-hundred day simple moving average of $22.78. Wolfspeed, Inc. has a 52-week low of $7.42 and a 52-week high of $47.43. The company has a quick ratio of 3.85, a current ratio of 4.51 and a debt-to-equity ratio of 6.99. The company has a market cap of $964.21 million, a P/E ratio of -1.18 and a beta of 1.53.

Analyst Ratings Changes

WOLF has been the subject of several research reports. TD Cowen dropped their price objective on shares of Wolfspeed from $25.00 to $15.00 and set a “hold” rating for the company in a research note on Thursday, August 22nd. The Goldman Sachs Group reduced their price objective on Wolfspeed from $48.00 to $28.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Deutsche Bank Aktiengesellschaft lowered their price objective on Wolfspeed from $17.00 to $14.00 and set a “hold” rating for the company in a research note on Thursday, August 22nd. Oppenheimer reissued a “market perform” rating on shares of Wolfspeed in a research report on Tuesday, July 9th. Finally, Piper Sandler reduced their price target on shares of Wolfspeed from $35.00 to $20.00 and set an “overweight” rating for the company in a research report on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $24.53.

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.