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Wolfspeed (WOLF) Stock Moves -0.82%: What You Should Know
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The latest trading session saw Wolfspeed (WOLF - Free Report) ending at $34, denoting a -0.82% adjustment from its last day's close. This change was narrower than the S&P 500's daily loss of 0.85%. Elsewhere, the Dow lost 0.75%, while the tech-heavy Nasdaq lost 0.96%.
Heading into today, shares of the maker of energy-efficient lighting had lost 13.3% over the past month, lagging the Computer and Technology sector's loss of 2.07% and the S&P 500's loss of 3.02% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Wolfspeed in its upcoming earnings disclosure. The company's earnings report is set to go public on October 30, 2023. The company's earnings per share (EPS) are projected to be -$0.68, reflecting a 1600% decrease from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $202.2 million, indicating a 16.2% downward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of -$2.66 per share and a revenue of $913.64 million, demonstrating changes of -83.45% and -0.9%, respectively, from the preceding year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Wolfspeed. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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 past month, the Zacks Consensus EPS estimate has shifted 4.13% downward. As of now, Wolfspeed holds 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 97, placing it within the top 39% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Wolfspeed (WOLF) Stock Moves -0.82%: What You Should Know
The latest trading session saw Wolfspeed (WOLF - Free Report) ending at $34, denoting a -0.82% adjustment from its last day's close. This change was narrower than the S&P 500's daily loss of 0.85%. Elsewhere, the Dow lost 0.75%, while the tech-heavy Nasdaq lost 0.96%.
Heading into today, shares of the maker of energy-efficient lighting had lost 13.3% over the past month, lagging the Computer and Technology sector's loss of 2.07% and the S&P 500's loss of 3.02% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Wolfspeed in its upcoming earnings disclosure. The company's earnings report is set to go public on October 30, 2023. The company's earnings per share (EPS) are projected to be -$0.68, reflecting a 1600% decrease from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $202.2 million, indicating a 16.2% downward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of -$2.66 per share and a revenue of $913.64 million, demonstrating changes of -83.45% and -0.9%, respectively, from the preceding year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Wolfspeed. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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 past month, the Zacks Consensus EPS estimate has shifted 4.13% downward. As of now, Wolfspeed holds 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 97, placing it within the top 39% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.