Qsemble Capital Management LP Acquires New Position in Wolfspeed, Inc. (NYSE:WOLF)

Qsemble Capital Management LP bought a new stake in Wolfspeed, Inc. (NYSE:WOLF - Free Report) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 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.

Other institutional investors also recently made changes to their positions in the company. Advisors Asset Management Inc. boosted its position in Wolfspeed by 64.8% during 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 during the period. Lazard Asset Management LLC increased its holdings in shares of Wolfspeed by 292,375.0% in the 1st quarter. Lazard Asset Management LLC now owns 70,194 shares of the company's stock worth $2,070,000 after acquiring an additional 70,170 shares during the period. Janus Henderson Group PLC increased its holdings in shares of Wolfspeed by 2.0% in the 1st quarter. Janus Henderson Group PLC now owns 720,961 shares of the company's stock worth $21,265,000 after acquiring an additional 14,007 shares during the period. B. Riley Wealth Advisors Inc. bought a new stake in Wolfspeed in the 1st quarter valued at about $245,000. Finally, Tidal Investments LLC grew its position in Wolfspeed by 77.7% in the 1st quarter. Tidal Investments LLC now owns 14,927 shares of the company's stock worth $440,000 after purchasing an additional 6,529 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on WOLF. The Goldman Sachs Group cut their price target on Wolfspeed from $22.00 to $19.00 and set a "buy" rating on the stock in a report on Thursday, November 7th. Morgan Stanley boosted their price target on Wolfspeed from $10.00 to $15.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 16th. 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. Susquehanna reduced their price objective on shares of Wolfspeed from $16.00 to $11.00 and set a "neutral" rating for the company in a report on Thursday, November 7th. Finally, Roth Mkm lowered their target price on shares of Wolfspeed from $25.00 to $20.00 and set a "buy" rating on the stock in a research note on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $17.21.

Wolfspeed Stock Up 1.0 %

Shares of NYSE WOLF traded up $0.09 during trading on Wednesday, hitting $8.96. The company had a trading volume of 1,961,019 shares, compared to its average volume of 7,172,563. Wolfspeed, Inc. has a 52 week low of $6.10 and a 52 week high of $47.43. The business's 50-day moving average is $10.74 and its 200 day moving average is $16.60. The company has a debt-to-equity ratio of 9.82, a current ratio of 3.14 and a quick ratio of 2.54.

Insider Transactions at Wolfspeed

In other news, Director Darren R. Jackson bought 36,975 shares of the company's stock in a transaction dated Wednesday, November 20th. The shares were acquired at an average cost of $6.76 per share, with a total value of $249,951.00. Following the completion of the transaction, the director now directly owns 85,996 shares in the company, valued at approximately $581,332.96. The trade was a 75.43 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Thomas H. Werner purchased 37,500 shares of Wolfspeed stock in a transaction that occurred on Wednesday, November 20th. The stock was purchased at an average price of $6.53 per share, with a total value of $244,875.00. Following the transaction, the chairman now owns 108,549 shares in the company, valued at $708,824.97. This represents a 52.78 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 78,067 shares of company stock valued at $524,747 over the last three months. Company insiders own 0.84% 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.