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Wolfspeed (WOLF) Outpaces Stock Market Gains: What You Should Know
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Wolfspeed (WOLF - Free Report) closed the most recent trading day at $67.54, moving +1.17% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.71%. Elsewhere, the Dow gained 1.06%, while the tech-heavy Nasdaq added 4.62%.
Heading into today, shares of the maker of energy-efficient lighting had gained 25.8% over the past month, outpacing the Computer and Technology sector's gain of 2.78% and the S&P 500's gain of 2.65% in that time.
Wall Street will be looking for positivity from Wolfspeed as it approaches its next earnings report date. In that report, analysts expect Wolfspeed to post earnings of -$0.20 per share. This would mark a year-over-year decline of 900%. Meanwhile, our latest consensus estimate is calling for revenue of $223.36 million, down 2.25% from the prior-year quarter.
Investors might also notice recent changes to analyst estimates for Wolfspeed. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 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 currently a Zacks Rank #4 (Sell).
The Semiconductor - Discretes industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 246, which puts it in the bottom 3% 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) Outpaces Stock Market Gains: What You Should Know
Wolfspeed (WOLF - Free Report) closed the most recent trading day at $67.54, moving +1.17% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.71%. Elsewhere, the Dow gained 1.06%, while the tech-heavy Nasdaq added 4.62%.
Heading into today, shares of the maker of energy-efficient lighting had gained 25.8% over the past month, outpacing the Computer and Technology sector's gain of 2.78% and the S&P 500's gain of 2.65% in that time.
Wall Street will be looking for positivity from Wolfspeed as it approaches its next earnings report date. In that report, analysts expect Wolfspeed to post earnings of -$0.20 per share. This would mark a year-over-year decline of 900%. Meanwhile, our latest consensus estimate is calling for revenue of $223.36 million, down 2.25% from the prior-year quarter.
Investors might also notice recent changes to analyst estimates for Wolfspeed. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 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 currently a Zacks Rank #4 (Sell).
The Semiconductor - Discretes industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 246, which puts it in the bottom 3% 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.