82,631 Shares in Wolfspeed, Inc. (NYSE:WOLF) Bought by Qsemble Capital Management LP

Qsemble Capital Management LP acquired a new stake in Wolfspeed, Inc. (NYSE:WOLF) in the third quarter, HoldingsChannel reports. The institutional investor acquired 82,631 shares of the company’s stock, valued at approximately $802,000.

Other large investors also recently modified their holdings of the company. Algert Global LLC boosted its stake in Wolfspeed by 173.6% during the 3rd quarter. Algert Global LLC now owns 145,216 shares of the company’s stock valued at $1,409,000 after acquiring an additional 92,140 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Wolfspeed by 2.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 871,191 shares of the company’s stock valued at $8,451,000 after buying an additional 21,143 shares during the last quarter. Primecap Management Co. CA grew its position in shares of Wolfspeed by 5.0% during the third quarter. Primecap Management Co. CA now owns 6,349,180 shares of the company’s stock worth $61,587,000 after acquiring an additional 303,870 shares during the last quarter. Intech Investment Management LLC increased its holdings in shares of Wolfspeed by 13.8% in the 3rd quarter. Intech Investment Management LLC now owns 55,700 shares of the company’s stock worth $540,000 after acquiring an additional 6,757 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in Wolfspeed by 1,158.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 833,201 shares of the company’s stock valued at $8,082,000 after purchasing an additional 766,971 shares during the last quarter.

Analyst Ratings Changes

WOLF has been the subject of several recent analyst reports. Bank of America decreased their target price on shares of Wolfspeed from $25.00 to $15.00 and set an “underperform” rating for the company in a research report on Friday, August 23rd. Deutsche Bank Aktiengesellschaft cut their target price on Wolfspeed from $17.00 to $14.00 and set a “hold” rating for the company in a research report on Thursday, August 22nd. The Goldman Sachs Group lowered their price target on Wolfspeed from $22.00 to $19.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. TD Cowen decreased their target price on Wolfspeed from $25.00 to $15.00 and set a “hold” rating for the company in a research note on Thursday, August 22nd. Finally, Piper Sandler reissued an “overweight” rating and set a $18.00 target price (down from $20.00) on shares of Wolfspeed in a research note on Thursday, November 7th. Two research 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 data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $17.21.

Insider Activity at Wolfspeed

In other news, Director Darren R. Jackson bought 36,975 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was bought at an average price of $6.76 per share, for a total transaction of $249,951.00. Following the completion of the purchase, the director now owns 85,996 shares of the company’s stock, valued at approximately $581,332.96. The trade was a 75.43 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Glenda Dorchak acquired 3,592 shares of Wolfspeed stock in a transaction on Friday, November 22nd. The stock was acquired at an average cost of $8.33 per share, for a total transaction of $29,921.36. Following the purchase, 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 disclosure for this purchase can be found here. Insiders have acquired a total of 78,067 shares of company stock valued at $524,747 over the last quarter. 0.84% of the stock is owned by company insiders.

Wolfspeed Price Performance

Shares of NYSE:WOLF opened at $8.87 on Wednesday. The firm has a market capitalization of $1.13 billion, a PE ratio of -1.49 and a beta of 1.46. The company has a current ratio of 3.14, a quick ratio of 2.54 and a debt-to-equity ratio of 9.82. Wolfspeed, Inc. has a 1-year low of $6.10 and a 1-year high of $47.43. The business’s 50 day moving average is $10.74 and its 200-day moving average is $16.60.

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.