Healthcare of Ontario Pension Plan Trust Fund Has $1.42 Million Stock Holdings in Wolfspeed, Inc. (NYSE:WOLF)

Healthcare of Ontario Pension Plan Trust Fund raised its position in Wolfspeed, Inc. (NYSE:WOLF) by 9.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 146,014 shares of the company’s stock after acquiring an additional 12,839 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Wolfspeed were worth $1,416,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Iridian Asset Management LLC CT increased its position in shares of Wolfspeed by 319.9% during the third quarter. Iridian Asset Management LLC CT now owns 521,158 shares of the company’s stock valued at $5,055,000 after purchasing an additional 397,057 shares during the period. Primecap Management Co. CA increased its holdings in Wolfspeed by 5.0% in the 3rd quarter. Primecap Management Co. CA now owns 6,349,180 shares of the company’s stock valued at $61,587,000 after buying an additional 303,870 shares during the period. Principal Financial Group Inc. increased its holdings in Wolfspeed by 41.4% in the 3rd quarter. Principal Financial Group Inc. now owns 592,599 shares of the company’s stock valued at $5,748,000 after buying an additional 173,409 shares during the period. Rheos Capital Works Inc. raised its stake in shares of Wolfspeed by 140.8% in the 3rd quarter. Rheos Capital Works Inc. now owns 427,500 shares of the company’s stock valued at $4,147,000 after buying an additional 250,000 shares in the last quarter. Finally, Boston Partners bought a new position in shares of Wolfspeed during the 1st quarter worth about $1,621,000.

Insider Buying and Selling at Wolfspeed

In other Wolfspeed news, Chairman Thomas H. Werner bought 37,500 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were bought at an average cost of $6.53 per share, for a total transaction of $244,875.00. Following the transaction, the chairman now owns 108,549 shares in the company, valued at approximately $708,824.97. This trade represents a 52.78 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Glenda Dorchak purchased 3,592 shares of the stock in a transaction dated Friday, November 22nd. The shares were acquired at an average price of $8.33 per share, with a total value of $29,921.36. Following the transaction, the director now owns 18,688 shares in the company, valued at $155,671.04. This trade represents a 23.79 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 78,067 shares of company stock worth $524,747. Insiders own 0.84% of the company’s stock.

Wolfspeed Price Performance

WOLF opened at $9.58 on Monday. The company has a debt-to-equity ratio of 9.82, a current ratio of 3.14 and a quick ratio of 2.54. The stock has a market capitalization of $1.22 billion, a P/E ratio of -1.61 and a beta of 1.46. The company’s 50 day simple moving average is $10.78 and its 200-day simple moving average is $16.23. Wolfspeed, Inc. has a one year low of $6.10 and a one year high of $47.43.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on WOLF shares. Canaccord Genuity Group lowered their target price on shares of Wolfspeed from $25.00 to $18.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. New Street Research cut Wolfspeed from a “buy” rating to a “neutral” rating and set a $18.00 target price for the company. in a report on Wednesday, August 7th. The Goldman Sachs Group decreased their price target on Wolfspeed from $22.00 to $19.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Morgan Stanley increased their price objective on Wolfspeed from $10.00 to $15.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Finally, JPMorgan Chase & Co. reduced 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. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, Wolfspeed currently has an average rating of “Hold” and an average price target of $17.21.

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.