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Wolfspeed (WOLF) Gains As Market Dips: What You Should Know
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In the latest trading session, Wolfspeed (WOLF - Free Report) closed at $110.19, marking a +0.33% move from the previous day. The stock outpaced the S&P 500's daily loss of 1.72%. At the same time, the Dow lost 1.62%, and the tech-heavy Nasdaq gained 0.09%.
Coming into today, shares of the maker of energy-efficient lighting had lost 9.1% in the past month. In that same time, the Computer and Technology sector lost 11.99%, while the S&P 500 lost 9.09%.
Investors will be hoping for strength from Wolfspeed as it approaches its next earnings release. In that report, analysts expect Wolfspeed to post earnings of -$0.05 per share. This would mark year-over-year growth of 76.19%. Meanwhile, our latest consensus estimate is calling for revenue of $239.76 million, up 53.1% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.13 per share and revenue of $1.07 billion, which would represent changes of +126% and +43.14%, respectively, from the prior year.
Any recent changes to analyst estimates for Wolfspeed should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about 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, 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 past month, the Zacks Consensus EPS estimate has moved 1.36% higher. Wolfspeed is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Wolfspeed is currently trading at a Forward P/E ratio of 854.23. For comparison, its industry has an average Forward P/E of 11.41, which means Wolfspeed is trading at a premium to the group.
The Semiconductor - Discretes industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 200, putting it in the bottom 21% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Wolfspeed (WOLF) Gains As Market Dips: What You Should Know
In the latest trading session, Wolfspeed (WOLF - Free Report) closed at $110.19, marking a +0.33% move from the previous day. The stock outpaced the S&P 500's daily loss of 1.72%. At the same time, the Dow lost 1.62%, and the tech-heavy Nasdaq gained 0.09%.
Coming into today, shares of the maker of energy-efficient lighting had lost 9.1% in the past month. In that same time, the Computer and Technology sector lost 11.99%, while the S&P 500 lost 9.09%.
Investors will be hoping for strength from Wolfspeed as it approaches its next earnings release. In that report, analysts expect Wolfspeed to post earnings of -$0.05 per share. This would mark year-over-year growth of 76.19%. Meanwhile, our latest consensus estimate is calling for revenue of $239.76 million, up 53.1% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.13 per share and revenue of $1.07 billion, which would represent changes of +126% and +43.14%, respectively, from the prior year.
Any recent changes to analyst estimates for Wolfspeed should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about 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, 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 past month, the Zacks Consensus EPS estimate has moved 1.36% higher. Wolfspeed is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Wolfspeed is currently trading at a Forward P/E ratio of 854.23. For comparison, its industry has an average Forward P/E of 11.41, which means Wolfspeed is trading at a premium to the group.
The Semiconductor - Discretes industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 200, putting it in the bottom 21% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.