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Wolfspeed (WOLF) Rises But Trails Market: What Investors Should Know
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In the latest trading session, Wolfspeed (WOLF - Free Report) closed at $43.33, marking a +0.02% move from the previous day. The stock fell short of the S&P 500, which registered a gain of 0.45% for the day.
The investment community will be closely monitoring the performance of Wolfspeed in its forthcoming earnings report. In that report, analysts expect Wolfspeed to post earnings of -$0.63 per share. This would mark a year-over-year decline of 472.73%. Meanwhile, the latest consensus estimate predicts the revenue to be $205.94 million, indicating a 4.7% decrease compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of -$2.35 per share and a revenue of $884.69 million, demonstrating changes of -62.07% and -4.04%, respectively, from the preceding year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Wolfspeed. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Wolfspeed presently features a Zacks Rank of #3 (Hold).
The Semiconductor - Discretes industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 92, putting it in the top 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Wolfspeed (WOLF) Rises But Trails Market: What Investors Should Know
In the latest trading session, Wolfspeed (WOLF - Free Report) closed at $43.33, marking a +0.02% move from the previous day. The stock fell short of the S&P 500, which registered a gain of 0.45% for the day.
The investment community will be closely monitoring the performance of Wolfspeed in its forthcoming earnings report. In that report, analysts expect Wolfspeed to post earnings of -$0.63 per share. This would mark a year-over-year decline of 472.73%. Meanwhile, the latest consensus estimate predicts the revenue to be $205.94 million, indicating a 4.7% decrease compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of -$2.35 per share and a revenue of $884.69 million, demonstrating changes of -62.07% and -4.04%, respectively, from the preceding year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Wolfspeed. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Wolfspeed presently features a Zacks Rank of #3 (Hold).
The Semiconductor - Discretes industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 92, putting it in the top 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.