Oak Harbor Wealth Partners LLC decreased its holdings in shares of Wolfspeed, Inc. (NYSE:WOLF – Free Report) by 15.2% in the second quarter, HoldingsChannel reports. The fund owned 19,808 shares of the company’s stock after selling 3,550 shares during the quarter. Oak Harbor Wealth Partners LLC’s holdings in Wolfspeed were worth $451,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also recently modified their holdings of the business. Norges Bank purchased a new stake in Wolfspeed in the 4th quarter worth $308,701,000. Cibc World Markets Corp purchased a new stake in Wolfspeed in the 4th quarter worth $34,808,000. Vanguard Group Inc. lifted its stake in Wolfspeed by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 13,079,067 shares of the company’s stock worth $385,832,000 after purchasing an additional 449,732 shares in the last quarter. Artisan Partners Limited Partnership lifted its stake in Wolfspeed by 15.5% in the 4th quarter. Artisan Partners Limited Partnership now owns 2,626,081 shares of the company’s stock worth $114,261,000 after purchasing an additional 352,609 shares in the last quarter. Finally, Neuberger Berman Group LLC lifted its stake in Wolfspeed by 256.0% in the 4th quarter. Neuberger Berman Group LLC now owns 188,216 shares of the company’s stock worth $8,189,000 after purchasing an additional 135,348 shares in the last quarter.
Wolfspeed Trading Down 7.9 %
Wolfspeed stock traded down $1.05 during midday trading on Friday, reaching $12.18. The stock had a trading volume of 8,498,854 shares, compared to its average volume of 4,528,875. The company has a quick ratio of 4.00, a current ratio of 4.58 and a debt-to-equity ratio of 5.55. Wolfspeed, Inc. has a 52-week low of $11.53 and a 52-week high of $49.32. The firm has a market cap of $1.53 billion, a price-to-earnings ratio of -1.89 and a beta of 1.60. The company has a fifty day moving average of $21.10 and a 200 day moving average of $24.72.
Wall Street Analysts Forecast Growth
Read Our Latest Research Report on Wolfspeed
Insiders Place Their Bets
In related news, Director Marvin Riley bought 1,866 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were acquired at an average cost of $27.05 per share, for a total transaction of $50,475.30. Following the purchase, the director now directly owns 13,297 shares of the company’s stock, valued at $359,683.85. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.62% of the company’s stock.
Wolfspeed Profile
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.
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Want to see what other hedge funds are holding WOLF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wolfspeed, Inc. (NYSE:WOLF – Free Report).
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