Wolfspeed Inc (NYSE:WOLF) shares are trading lower by 5.54% to $74.65 Monday afternoon. Shares of several semiconductor and chip companies are trading lower Monday, weakness may be in continued reaction to Intel Corp’s worse-than-expected fourth-quarter report, which has weighed on sector sentiment ahead of earnings. The broader market is also lower ahead of this week’s Fed decision.
Intel said fourth-quarter revenue fell 32% year-over-year to $14 billion, below analyst estimates of $14.49 billion, according to Benzinga Pro. Full-year revenue was $63.1 billion, down 20% year-over year.
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Intel also said it prioritized rationalizing its investments and “right-sizing” the organization over the fourth quarter.
The company reported a loss of 16 cents per share in the fourth quarter, missing analyst estimates of 20 cents per share. Intel said full-year EPS was $1.94…Read More
According to data from Benzinga Pro, Wolfspeed Inc has a 52-week high of $125.48 and a 52-week low of $58.07.
