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

Sei Investments Co. purchased a new position in shares of Wolfspeed, Inc. (NYSE:WOLF) in the 1st quarter, HoldingsChannel.com reports. The fund purchased 30,296 shares of the company’s stock, valued at approximately $494,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Canada Pension Plan Investment Board acquired a new stake in Wolfspeed in the 2nd quarter worth about $34,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Wolfspeed during the second quarter valued at approximately $34,000. Summit Securities Group LLC raised its holdings in shares of Wolfspeed by 71.0% during the fourth quarter. Summit Securities Group LLC now owns 2,204 shares of the company’s stock valued at $38,000 after acquiring an additional 915 shares during the last quarter. Marex Group plc acquired a new position in shares of Wolfspeed during the second quarter valued at approximately $44,000. Finally, WINTON GROUP Ltd purchased a new position in shares of Wolfspeed in the second quarter valued at approximately $47,000.

Analyst Upgrades and Downgrades

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

Wolfspeed Price Performance

WOLF opened at $31.81 on Friday. The company’s 50 day simple moving average is $36.88 and its two-hundred day simple moving average is $32.29. Wolfspeed, Inc. has a 1-year low of $8.05 and a 1-year high of $80.82. The firm has a market capitalization of $1.65 billion and a price-to-earnings ratio of -3.01.

Wolfspeed 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.