Qsemble Capital Management LP Invests $802,000 in Wolfspeed, Inc. (NYSE:WOLF)

Qsemble Capital Management LP acquired a new stake in Wolfspeed, Inc. (NYSE:WOLF) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 82,631 shares of the company’s stock, valued at approximately $802,000. Qsemble Capital Management LP owned 0.06% of Wolfspeed as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in WOLF. Mather Group LLC. lifted its holdings in shares of Wolfspeed by 385.5% in the 2nd quarter. Mather Group LLC. now owns 1,175 shares of the company’s stock valued at $27,000 after buying an additional 933 shares during the period. Eastern Bank acquired a new stake in Wolfspeed in the third quarter valued at $27,000. GAMMA Investing LLC boosted its position in shares of Wolfspeed by 416.4% during the 3rd quarter. GAMMA Investing LLC now owns 4,544 shares of the company’s stock worth $44,000 after purchasing an additional 3,664 shares in the last quarter. Signaturefd LLC increased its holdings in shares of Wolfspeed by 284.3% in the 2nd quarter. Signaturefd LLC now owns 2,087 shares of the company’s stock valued at $48,000 after purchasing an additional 1,544 shares in the last quarter. Finally, Advisors Asset Management Inc. increased its holdings in shares of Wolfspeed by 64.8% in the 1st quarter. Advisors Asset Management Inc. now owns 1,757 shares of the company’s stock valued at $52,000 after purchasing an additional 691 shares in the last quarter.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on WOLF. Mizuho lowered their target price on shares of Wolfspeed from $10.00 to $6.00 and set an “underperform” rating on the stock in a research report on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft lowered their price target on Wolfspeed from $17.00 to $14.00 and set a “hold” rating on the stock in a report on Thursday, August 22nd. JPMorgan Chase & Co. reduced their price objective on Wolfspeed from $20.00 to $17.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. TD Cowen lowered their target price on Wolfspeed from $25.00 to $15.00 and set a “hold” rating on the stock in a report on Thursday, August 22nd. Finally, Bank of America decreased their price objective on shares of Wolfspeed from $25.00 to $15.00 and set an “underperform” rating on the stock in a research report on Friday, August 23rd. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Wolfspeed has a consensus rating of “Hold” and a consensus price target of $17.21.

Wolfspeed Stock Down 10.8 %

Shares of NYSE:WOLF opened at $8.87 on Wednesday. The company has a current ratio of 3.14, a quick ratio of 2.54 and a debt-to-equity ratio of 9.82. The firm has a market cap of $1.13 billion, a price-to-earnings ratio of -1.49 and a beta of 1.46. The stock’s 50-day moving average price is $10.74 and its two-hundred day moving average price is $16.60. Wolfspeed, Inc. has a 12-month low of $6.10 and a 12-month high of $47.43.

Insider Transactions at Wolfspeed

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

Wolfspeed Company 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.