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Wolfspeed (WOLF) Stock Moves -0.72%: What You Should Know
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In the latest trading session, Wolfspeed (WOLF - Free Report) closed at $115.07, marking a -0.72% move from the previous day. This move was narrower than the S&P 500's daily loss of 1.03%. At the same time, the Dow lost 1.15%, and the tech-heavy Nasdaq gained 0.33%.
Prior to today's trading, shares of the maker of energy-efficient lighting had gained 3.67% over the past month. This has outpaced the Computer and Technology sector's loss of 4.49% and the S&P 500's loss of 3.51% in that time.
Wall Street will be looking for positivity from Wolfspeed as it approaches its next earnings report date. This is expected to be October 26, 2022. On that day, Wolfspeed is projected to report earnings of -$0.05 per share, which would represent year-over-year growth of 76.19%. Our most recent consensus estimate is calling for quarterly revenue of $239.76 million, up 53.1% from the year-ago period.
WOLF's full-year Zacks Consensus Estimates are calling for earnings of $0.13 per share and revenue of $1.07 billion. These results would represent year-over-year changes of +126% and +43.14%, respectively.
It is also important to note the recent changes to analyst estimates for Wolfspeed. 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. The Zacks Consensus EPS estimate has moved 1.36% higher within the past month. Wolfspeed is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Wolfspeed currently has a Forward P/E ratio of 901.52. This valuation marks a premium compared to its industry's average Forward P/E of 10.7.
The Semiconductor - Discretes industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 87, putting it in the top 35% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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) Stock Moves -0.72%: What You Should Know
In the latest trading session, Wolfspeed (WOLF - Free Report) closed at $115.07, marking a -0.72% move from the previous day. This move was narrower than the S&P 500's daily loss of 1.03%. At the same time, the Dow lost 1.15%, and the tech-heavy Nasdaq gained 0.33%.
Prior to today's trading, shares of the maker of energy-efficient lighting had gained 3.67% over the past month. This has outpaced the Computer and Technology sector's loss of 4.49% and the S&P 500's loss of 3.51% in that time.
Wall Street will be looking for positivity from Wolfspeed as it approaches its next earnings report date. This is expected to be October 26, 2022. On that day, Wolfspeed is projected to report earnings of -$0.05 per share, which would represent year-over-year growth of 76.19%. Our most recent consensus estimate is calling for quarterly revenue of $239.76 million, up 53.1% from the year-ago period.
WOLF's full-year Zacks Consensus Estimates are calling for earnings of $0.13 per share and revenue of $1.07 billion. These results would represent year-over-year changes of +126% and +43.14%, respectively.
It is also important to note the recent changes to analyst estimates for Wolfspeed. 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. The Zacks Consensus EPS estimate has moved 1.36% higher within the past month. Wolfspeed is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Wolfspeed currently has a Forward P/E ratio of 901.52. This valuation marks a premium compared to its industry's average Forward P/E of 10.7.
The Semiconductor - Discretes industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 87, putting it in the top 35% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.