Sei Investments Co. Invests $494,000 in Wolfspeed, Inc. $WOLF

Sei Investments Co. bought a new position in shares of Wolfspeed, Inc. (NYSE:WOLF) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 30,296 shares of the company’s stock, valued at approximately $494,000. Sei Investments Co. owned 0.06% of Wolfspeed as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of WOLF. Summit Securities Group LLC boosted its position in Wolfspeed by 71.0% in the 4th quarter. Summit Securities Group LLC now owns 2,204 shares of the company’s stock worth $38,000 after purchasing an additional 915 shares in the last quarter. Cinctive Capital Management LP acquired a new stake in shares of Wolfspeed during the 4th quarter worth approximately $176,000. Polymer Capital Management HK LTD purchased a new position in shares of Wolfspeed during the 3rd quarter valued at approximately $582,000. Mariner Investment Group LLC purchased a new position in shares of Wolfspeed during the 3rd quarter valued at approximately $715,000. Finally, Atlas Brown Inc. acquired a new position in shares of Wolfspeed in the 1st quarter valued at $408,000.

Wolfspeed Trading Up 0.9%

Shares of WOLF opened at $31.81 on Friday. Wolfspeed, Inc. has a 12 month low of $8.05 and a 12 month high of $80.82. The stock’s 50 day moving average is $36.88 and its two-hundred day moving average is $32.29. The firm has a market cap of $1.65 billion and a P/E ratio of -3.01.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Susquehanna lowered their price target on shares of Wolfspeed from $40.00 to $30.00 and set a “neutral” rating on the stock in a report on Tuesday, July 21st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Wolfspeed in a report on Wednesday, June 24th. Finally, Wall Street Zen downgraded shares of Wolfspeed from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 1st. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Wolfspeed presently has an average rating of “Hold” and an average price target of $25.00.

Wolfspeed Company Profile

Wolfspeed, Inc (NYSE: WOLF) is a leading developer and manufacturer of silicon carbide (SiC) and gallium nitride (GaN) semiconductor materials and devices. The company’s product portfolio addresses high-growth markets such as electric vehicles, renewable energy, fast-charging infrastructure, aerospace and defense, and telecommunications. By leveraging proprietary materials and device designs, Wolfspeed delivers solutions that offer improved energy efficiency, higher power density and greater thermal performance compared to conventional silicon-based semiconductors.

Founded as part of Cree, Inc and spun off to form an independent public company in October 2021, Wolfspeed traces its roots to the mid-1980s when it pioneered the commercial use of wide-bandgap semiconductor technology.