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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 $29.90, denoting a +1.36% adjustment from its last day's close. The stock's change was more than the S&P 500's daily loss of 0.2%. Meanwhile, the Dow lost 0.6%, and the Nasdaq, a tech-heavy index, added 0.11%.
Coming into today, shares of the maker of energy-efficient lighting had gained 3.76% in the past month. In that same time, the Computer and Technology sector gained 2.99%, while the S&P 500 gained 3.32%.
Market participants will be closely following the financial results of Wolfspeed in its upcoming release. 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 Zacks Consensus Estimate for revenue is projecting net sales of $201.49 million, down 11.9% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$2.35 per share and a revenue of $837.95 million, signifying shifts of -62.07% and -9.11%, respectively, from the last year.
Investors might also notice recent changes to analyst estimates for Wolfspeed. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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 an unchanged state. Wolfspeed is holding a Zacks Rank of #3 (Hold) right now.
The Semiconductor - Discretes industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 204, finds itself in the bottom 20% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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 follow all of these stock-moving metrics, and many more, on Zacks.com.
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Wolfspeed (WOLF) Advances While Market Declines: Some Information for Investors
The latest trading session saw Wolfspeed (WOLF - Free Report) ending at $29.90, denoting a +1.36% adjustment from its last day's close. The stock's change was more than the S&P 500's daily loss of 0.2%. Meanwhile, the Dow lost 0.6%, and the Nasdaq, a tech-heavy index, added 0.11%.
Coming into today, shares of the maker of energy-efficient lighting had gained 3.76% in the past month. In that same time, the Computer and Technology sector gained 2.99%, while the S&P 500 gained 3.32%.
Market participants will be closely following the financial results of Wolfspeed in its upcoming release. 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 Zacks Consensus Estimate for revenue is projecting net sales of $201.49 million, down 11.9% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$2.35 per share and a revenue of $837.95 million, signifying shifts of -62.07% and -9.11%, respectively, from the last year.
Investors might also notice recent changes to analyst estimates for Wolfspeed. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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 an unchanged state. Wolfspeed is holding a Zacks Rank of #3 (Hold) right now.
The Semiconductor - Discretes industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 204, finds itself in the bottom 20% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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 follow all of these stock-moving metrics, and many more, on Zacks.com.