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Wolfspeed (WOLF) Stock Sinks As Market Gains: What You Should Know
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Wolfspeed (WOLF - Free Report) closed at $63.16 in the latest trading session, marking a -0.44% move from the prior day. This move lagged the S&P 500's daily gain of 0.03%. At the same time, the Dow added 0.01%, and the tech-heavy Nasdaq lost 1.37%.
Coming into today, shares of the maker of energy-efficient lighting had gained 22.05% in the past month. In that same time, the Computer and Technology sector gained 1.16%, while the S&P 500 gained 3.43%.
Investors will be hoping for strength from Wolfspeed as it approaches its next earnings release. On that day, Wolfspeed is projected to report earnings of -$0.20 per share, which would represent a year-over-year decline of 900%. Our most recent consensus estimate is calling for quarterly revenue of $223.36 million, down 2.25% from the year-ago period.
Any recent changes to analyst estimates for Wolfspeed should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 17.82% lower. Wolfspeed is holding a Zacks Rank of #4 (Sell) right now.
The Semiconductor - Discretes industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 245, which puts it in the bottom 3% of all 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Wolfspeed (WOLF) Stock Sinks As Market Gains: What You Should Know
Wolfspeed (WOLF - Free Report) closed at $63.16 in the latest trading session, marking a -0.44% move from the prior day. This move lagged the S&P 500's daily gain of 0.03%. At the same time, the Dow added 0.01%, and the tech-heavy Nasdaq lost 1.37%.
Coming into today, shares of the maker of energy-efficient lighting had gained 22.05% in the past month. In that same time, the Computer and Technology sector gained 1.16%, while the S&P 500 gained 3.43%.
Investors will be hoping for strength from Wolfspeed as it approaches its next earnings release. On that day, Wolfspeed is projected to report earnings of -$0.20 per share, which would represent a year-over-year decline of 900%. Our most recent consensus estimate is calling for quarterly revenue of $223.36 million, down 2.25% from the year-ago period.
Any recent changes to analyst estimates for Wolfspeed should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 17.82% lower. Wolfspeed is holding a Zacks Rank of #4 (Sell) right now.
The Semiconductor - Discretes industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 245, which puts it in the bottom 3% of all 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.