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Wolfspeed (WOLF) Dips More Than Broader Market: What You Should Know
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Wolfspeed (WOLF - Free Report) closed at $38.25 in the latest trading session, marking a -0.68% move from the prior day. This move lagged the S&P 500's daily loss of 0.39%. Meanwhile, the Dow lost 0.19%, and the Nasdaq, a tech-heavy index, lost 0.59%.
Shares of the maker of energy-efficient lighting have appreciated by 14.41% over the course of the past month, outperforming the Computer and Technology sector's gain of 6.19% and the S&P 500's gain of 5.08%.
The investment community will be paying close attention to the earnings performance of Wolfspeed in its upcoming release. In that report, analysts expect Wolfspeed to post earnings of -$0.64 per share. This would mark a year-over-year decline of 481.82%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $205.94 million, down 4.7% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$2.40 per share and a revenue of $884.69 million, indicating changes of -65.52% and -4.04%, respectively, from the former year.
Investors should also take note of any recent adjustments to analyst estimates for Wolfspeed. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Wolfspeed is holding a Zacks Rank of #3 (Hold) right now.
The Semiconductor - Discretes industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 92, this industry ranks in the top 37% of all industries, numbering over 250.
The Zacks Industry Rank is ordered 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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Wolfspeed (WOLF) Dips More Than Broader Market: What You Should Know
Wolfspeed (WOLF - Free Report) closed at $38.25 in the latest trading session, marking a -0.68% move from the prior day. This move lagged the S&P 500's daily loss of 0.39%. Meanwhile, the Dow lost 0.19%, and the Nasdaq, a tech-heavy index, lost 0.59%.
Shares of the maker of energy-efficient lighting have appreciated by 14.41% over the course of the past month, outperforming the Computer and Technology sector's gain of 6.19% and the S&P 500's gain of 5.08%.
The investment community will be paying close attention to the earnings performance of Wolfspeed in its upcoming release. In that report, analysts expect Wolfspeed to post earnings of -$0.64 per share. This would mark a year-over-year decline of 481.82%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $205.94 million, down 4.7% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$2.40 per share and a revenue of $884.69 million, indicating changes of -65.52% and -4.04%, respectively, from the former year.
Investors should also take note of any recent adjustments to analyst estimates for Wolfspeed. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Wolfspeed is holding a Zacks Rank of #3 (Hold) right now.
The Semiconductor - Discretes industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 92, this industry ranks in the top 37% of all industries, numbering over 250.
The Zacks Industry Rank is ordered 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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.