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Wolfspeed (WOLF) Beats Stock Market Upswing: What Investors Need to Know
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Wolfspeed (WOLF - Free Report) closed the latest trading day at $26.02, indicating a +1.84% change from the previous session's end. The stock outperformed the S&P 500, which registered a daily gain of 0.52%. On the other hand, the Dow registered a gain of 0.12%, and the technology-centric Nasdaq increased by 0.9%.
Coming into today, shares of the maker of energy-efficient lighting had lost 21.51% in the past month. In that same time, the Computer and Technology sector gained 1.9%, while the S&P 500 gained 3.85%.
The investment community will be closely monitoring the performance of Wolfspeed in its forthcoming earnings report. It is anticipated that the company will report an EPS of -$0.64, marking a 392.31% fall compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $201.49 million, reflecting a 11.9% fall from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$2.35 per share and revenue of $837.95 million, which would represent changes of -62.07% and -9.11%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Wolfspeed. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
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 witnessed a 0.71% decrease. Currently, Wolfspeed is carrying a Zacks Rank of #3 (Hold).
The Semiconductor - Discretes industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 98, placing it within the top 39% of over 250 industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within 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) Beats Stock Market Upswing: What Investors Need to Know
Wolfspeed (WOLF - Free Report) closed the latest trading day at $26.02, indicating a +1.84% change from the previous session's end. The stock outperformed the S&P 500, which registered a daily gain of 0.52%. On the other hand, the Dow registered a gain of 0.12%, and the technology-centric Nasdaq increased by 0.9%.
Coming into today, shares of the maker of energy-efficient lighting had lost 21.51% in the past month. In that same time, the Computer and Technology sector gained 1.9%, while the S&P 500 gained 3.85%.
The investment community will be closely monitoring the performance of Wolfspeed in its forthcoming earnings report. It is anticipated that the company will report an EPS of -$0.64, marking a 392.31% fall compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $201.49 million, reflecting a 11.9% fall from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$2.35 per share and revenue of $837.95 million, which would represent changes of -62.07% and -9.11%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Wolfspeed. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
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 witnessed a 0.71% decrease. Currently, Wolfspeed is carrying a Zacks Rank of #3 (Hold).
The Semiconductor - Discretes industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 98, placing it within the top 39% of over 250 industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within 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.