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Wolfspeed (WOLF) Dips More Than Broader Markets: What You Should Know
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Wolfspeed (WOLF - Free Report) closed the most recent trading day at $103.80, moving -0.76% from the previous trading session. This change lagged the S&P 500's daily loss of 0.67%. At the same time, the Dow lost 0.33%, and the tech-heavy Nasdaq lost 0.22%.
Heading into today, shares of the maker of energy-efficient lighting had lost 12.37% over the past month, lagging the Computer and Technology sector's loss of 5.64% and the S&P 500's loss of 3.76% in that time.
Investors will be hoping for strength from Wolfspeed as it approaches its next earnings release, which 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%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $239.76 million, up 53.1% from the year-ago period.
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.
Investors might also notice recent changes to analyst estimates for Wolfspeed. Recent revisions tend to reflect the latest 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. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Wolfspeed is currently sporting a Zacks Rank of #1 (Strong Buy).
Digging into valuation, Wolfspeed currently has a Forward P/E ratio of 813.48. Its industry sports an average Forward P/E of 9.99, so we one might conclude that Wolfspeed is trading at a premium comparatively.
The Semiconductor - Discretes industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 198, which puts it in the bottom 22% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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) Dips More Than Broader Markets: What You Should Know
Wolfspeed (WOLF - Free Report) closed the most recent trading day at $103.80, moving -0.76% from the previous trading session. This change lagged the S&P 500's daily loss of 0.67%. At the same time, the Dow lost 0.33%, and the tech-heavy Nasdaq lost 0.22%.
Heading into today, shares of the maker of energy-efficient lighting had lost 12.37% over the past month, lagging the Computer and Technology sector's loss of 5.64% and the S&P 500's loss of 3.76% in that time.
Investors will be hoping for strength from Wolfspeed as it approaches its next earnings release, which 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%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $239.76 million, up 53.1% from the year-ago period.
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.
Investors might also notice recent changes to analyst estimates for Wolfspeed. Recent revisions tend to reflect the latest 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. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Wolfspeed is currently sporting a Zacks Rank of #1 (Strong Buy).
Digging into valuation, Wolfspeed currently has a Forward P/E ratio of 813.48. Its industry sports an average Forward P/E of 9.99, so we one might conclude that Wolfspeed is trading at a premium comparatively.
The Semiconductor - Discretes industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 198, which puts it in the bottom 22% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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.