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Wolfspeed (WOLF) Increases Despite Market Slip: Here's What You Need to Know
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Wolfspeed (WOLF - Free Report) closed the most recent trading day at $27.46, moving +0.59% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.31%. On the other hand, the Dow registered a loss of 0.41%, and the technology-centric Nasdaq decreased by 0.27%.
Heading into today, shares of the maker of energy-efficient lighting had gained 14.85% over the past month, outpacing the Computer and Technology sector's gain of 3.86% and the S&P 500's gain of 3.05% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Wolfspeed in its upcoming earnings disclosure. 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. Meanwhile, the latest consensus estimate predicts the revenue to be $201.49 million, indicating a 11.9% decrease compared to the same quarter of the previous year.
WOLF's full-year Zacks Consensus Estimates are calling for earnings of -$2.35 per share and revenue of $837.95 million. These results would represent year-over-year changes of -62.07% and -9.11%, respectively.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Wolfspeed. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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 remained unchanged. Wolfspeed is holding a Zacks Rank of #3 (Hold) right now.
The Semiconductor - Discretes industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 201, putting it in the bottom 21% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Wolfspeed (WOLF) Increases Despite Market Slip: Here's What You Need to Know
Wolfspeed (WOLF - Free Report) closed the most recent trading day at $27.46, moving +0.59% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.31%. On the other hand, the Dow registered a loss of 0.41%, and the technology-centric Nasdaq decreased by 0.27%.
Heading into today, shares of the maker of energy-efficient lighting had gained 14.85% over the past month, outpacing the Computer and Technology sector's gain of 3.86% and the S&P 500's gain of 3.05% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Wolfspeed in its upcoming earnings disclosure. 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. Meanwhile, the latest consensus estimate predicts the revenue to be $201.49 million, indicating a 11.9% decrease compared to the same quarter of the previous year.
WOLF's full-year Zacks Consensus Estimates are calling for earnings of -$2.35 per share and revenue of $837.95 million. These results would represent year-over-year changes of -62.07% and -9.11%, respectively.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Wolfspeed. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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 remained unchanged. Wolfspeed is holding a Zacks Rank of #3 (Hold) right now.
The Semiconductor - Discretes industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 201, putting it in the bottom 21% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.