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Wolfspeed (WOLF) Outpaces Stock Market Gains: What You Should Know
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Wolfspeed (WOLF - Free Report) closed at $65.26 in the latest trading session, marking a +0.9% move from the prior day. This move outpaced the S&P 500's daily gain of 0.74%. Meanwhile, the Dow gained 0.25%, and the Nasdaq, a tech-heavy index, added 11.47%.
Heading into today, shares of the maker of energy-efficient lighting had gained 11.36% over the past month, outpacing the Computer and Technology sector's gain of 2.44% and the S&P 500's gain of 3.34% in that time.
Wall Street will be looking for positivity from Wolfspeed as it approaches its next earnings report date. The company is expected to report EPS of -$0.20, down 900% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $223.36 million, down 2.25% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for Wolfspeed. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 17.82% lower within the past month. Wolfspeed is holding a Zacks Rank of #3 (Hold) right now.
The Semiconductor - Discretes industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 237, putting it in the bottom 6% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Wolfspeed (WOLF) Outpaces Stock Market Gains: What You Should Know
Wolfspeed (WOLF - Free Report) closed at $65.26 in the latest trading session, marking a +0.9% move from the prior day. This move outpaced the S&P 500's daily gain of 0.74%. Meanwhile, the Dow gained 0.25%, and the Nasdaq, a tech-heavy index, added 11.47%.
Heading into today, shares of the maker of energy-efficient lighting had gained 11.36% over the past month, outpacing the Computer and Technology sector's gain of 2.44% and the S&P 500's gain of 3.34% in that time.
Wall Street will be looking for positivity from Wolfspeed as it approaches its next earnings report date. The company is expected to report EPS of -$0.20, down 900% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $223.36 million, down 2.25% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for Wolfspeed. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 17.82% lower within the past month. Wolfspeed is holding a Zacks Rank of #3 (Hold) right now.
The Semiconductor - Discretes industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 237, putting it in the bottom 6% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.