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Wolfspeed (WOLF) Stock Sinks As Market Gains: What You Should Know
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In the latest market close, Wolfspeed (WOLF - Free Report) reached $44.43, with a -1% movement compared to the previous day. The stock's performance was behind the S&P 500's daily gain of 0.17%. On the other hand, the Dow registered a loss of 0.05%, and the technology-centric Nasdaq increased by 0.2%.
Prior to today's trading, shares of the maker of energy-efficient lighting had gained 33.81% over the past month. This has outpaced the Computer and Technology sector's gain of 4.37% and the S&P 500's gain of 4.71% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Wolfspeed in its upcoming earnings disclosure. In that report, analysts expect Wolfspeed to post earnings of -$0.63 per share. This would mark a year-over-year decline of 472.73%. Our most recent consensus estimate is calling for quarterly revenue of $205.94 million, down 4.7% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$2.35 per share and a revenue of $884.69 million, representing changes of -62.07% and -4.04%, respectively, from the prior year.
Any recent changes to analyst estimates for Wolfspeed should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Wolfspeed presently features a Zacks Rank of #3 (Hold).
The Semiconductor - Discretes industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 93, positioning it in the top 37% of all 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Wolfspeed (WOLF) Stock Sinks As Market Gains: What You Should Know
In the latest market close, Wolfspeed (WOLF - Free Report) reached $44.43, with a -1% movement compared to the previous day. The stock's performance was behind the S&P 500's daily gain of 0.17%. On the other hand, the Dow registered a loss of 0.05%, and the technology-centric Nasdaq increased by 0.2%.
Prior to today's trading, shares of the maker of energy-efficient lighting had gained 33.81% over the past month. This has outpaced the Computer and Technology sector's gain of 4.37% and the S&P 500's gain of 4.71% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Wolfspeed in its upcoming earnings disclosure. In that report, analysts expect Wolfspeed to post earnings of -$0.63 per share. This would mark a year-over-year decline of 472.73%. Our most recent consensus estimate is calling for quarterly revenue of $205.94 million, down 4.7% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$2.35 per share and a revenue of $884.69 million, representing changes of -62.07% and -4.04%, respectively, from the prior year.
Any recent changes to analyst estimates for Wolfspeed should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Wolfspeed presently features a Zacks Rank of #3 (Hold).
The Semiconductor - Discretes industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 93, positioning it in the top 37% of all 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.