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Wolfspeed (WOLF) Advances While Market Declines: Some Information for Investors

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The latest trading session saw Wolfspeed (WOLF - Free Report) ending at $28.07, denoting a +0.32% adjustment from its last day's close. This move outpaced the S&P 500's daily loss of 0.11%. Elsewhere, the Dow gained 0.12%, while the tech-heavy Nasdaq lost 0.41%.

Shares of the maker of energy-efficient lighting witnessed a loss of 3.58% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 1.42% and the S&P 500's gain of 2.7%.

The upcoming earnings release of Wolfspeed will be of great interest to investors. The company is predicted to post an EPS of -$0.64, indicating a 392.31% decline compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $201.49 million, indicating a 11.9% 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 $837.95 million, demonstrating changes of -62.07% and -9.11%, respectively, from the preceding year.

Investors should also note any recent changes to analyst estimates for Wolfspeed. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Wolfspeed is currently a Zacks Rank #3 (Hold).

The Semiconductor - Discretes industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 89, finds itself in the top 36% echelons of all 250+ industries.

The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the 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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