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Wolfspeed (WOLF) Suffers a Larger Drop Than the General Market: Key Insights
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In the latest trading session, Wolfspeed (WOLF - Free Report) closed at $43.24, marking a -0.62% move from the previous day. The stock's change was less than the S&P 500's daily loss of 0.57%. On the other hand, the Dow registered a gain of 0.07%, and the technology-centric Nasdaq decreased by 1.64%.
The the stock of maker of energy-efficient lighting has risen by 7.56% in the past month, leading the Computer and Technology sector's gain of 4.46% and the S&P 500's gain of 4%.
Investors will be eagerly watching for the performance of Wolfspeed in its upcoming earnings disclosure. The company is expected to report EPS of -$0.63, down 472.73% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $205.94 million, indicating a 4.7% downward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of -$2.35 per share and a revenue of $884.69 million, demonstrating changes of -62.07% and -4.04%, respectively, from the preceding year.
Investors might also notice recent changes to analyst estimates for Wolfspeed. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. At present, Wolfspeed boasts a Zacks Rank of #3 (Hold).
The Semiconductor - Discretes industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 205, finds itself in the bottom 19% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Wolfspeed (WOLF) Suffers a Larger Drop Than the General Market: Key Insights
In the latest trading session, Wolfspeed (WOLF - Free Report) closed at $43.24, marking a -0.62% move from the previous day. The stock's change was less than the S&P 500's daily loss of 0.57%. On the other hand, the Dow registered a gain of 0.07%, and the technology-centric Nasdaq decreased by 1.64%.
The the stock of maker of energy-efficient lighting has risen by 7.56% in the past month, leading the Computer and Technology sector's gain of 4.46% and the S&P 500's gain of 4%.
Investors will be eagerly watching for the performance of Wolfspeed in its upcoming earnings disclosure. The company is expected to report EPS of -$0.63, down 472.73% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $205.94 million, indicating a 4.7% downward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of -$2.35 per share and a revenue of $884.69 million, demonstrating changes of -62.07% and -4.04%, respectively, from the preceding year.
Investors might also notice recent changes to analyst estimates for Wolfspeed. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. At present, Wolfspeed boasts a Zacks Rank of #3 (Hold).
The Semiconductor - Discretes industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 205, finds itself in the bottom 19% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.