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Wolfspeed (WOLF) Ascends But Remains Behind Market: Some Facts to Note
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Wolfspeed (WOLF - Free Report) closed the most recent trading day at $33.15, moving +1.07% from the previous trading session. The stock's performance was behind the S&P 500's daily gain of 1.18%. Meanwhile, the Dow experienced a rise of 0.87%, and the technology-dominated Nasdaq saw an increase of 1.6%.
The the stock of maker of energy-efficient lighting has fallen by 23.85% in the past month, lagging the Computer and Technology sector's loss of 5.27% and the S&P 500's loss of 5.17%.
Analysts and investors alike will be keeping a close eye on the performance of Wolfspeed in its upcoming earnings disclosure. On that day, Wolfspeed is projected to report earnings of -$0.67 per share, which would represent a year-over-year decline of 1575%. Our most recent consensus estimate is calling for quarterly revenue of $203.73 million, down 15.57% from the year-ago period.
WOLF's full-year Zacks Consensus Estimates are calling for earnings of -$2.56 per share and revenue of $919.21 million. These results would represent year-over-year changes of -76.55% and +0.5%, respectively.
Investors should also take note of any recent adjustments to analyst estimates for Wolfspeed. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 5.13% lower. Wolfspeed is holding a Zacks Rank of #4 (Sell) right now.
The Semiconductor - Discretes industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 213, positioning it in the bottom 16% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Wolfspeed (WOLF) Ascends But Remains Behind Market: Some Facts to Note
Wolfspeed (WOLF - Free Report) closed the most recent trading day at $33.15, moving +1.07% from the previous trading session. The stock's performance was behind the S&P 500's daily gain of 1.18%. Meanwhile, the Dow experienced a rise of 0.87%, and the technology-dominated Nasdaq saw an increase of 1.6%.
The the stock of maker of energy-efficient lighting has fallen by 23.85% in the past month, lagging the Computer and Technology sector's loss of 5.27% and the S&P 500's loss of 5.17%.
Analysts and investors alike will be keeping a close eye on the performance of Wolfspeed in its upcoming earnings disclosure. On that day, Wolfspeed is projected to report earnings of -$0.67 per share, which would represent a year-over-year decline of 1575%. Our most recent consensus estimate is calling for quarterly revenue of $203.73 million, down 15.57% from the year-ago period.
WOLF's full-year Zacks Consensus Estimates are calling for earnings of -$2.56 per share and revenue of $919.21 million. These results would represent year-over-year changes of -76.55% and +0.5%, respectively.
Investors should also take note of any recent adjustments to analyst estimates for Wolfspeed. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 5.13% lower. Wolfspeed is holding a Zacks Rank of #4 (Sell) right now.
The Semiconductor - Discretes industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 213, positioning it in the bottom 16% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.