Cree Inc (CREE) has announced plans for a new production lines that will produce 150mm LED wafers that are more than double the size of current ones helping to make LED lighting more cost-effective. The new lines will be installed over the next few quarters and start producing by next summer.
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"150mm LED wafers are an important step in enabling the next phase of LED … Read the rest
Morgan Joseph is out reiterating its Buy rating on CREE after last night’s earnings report. They also maintain the price target of $100. Hat tip to Street Insider for the following analyst comment.
“Given solid execution and the stronger than expected LED business, we are again increasing our CY2010 revenue and non-GAAP EPS estimates to $1.05bn and $2.00, respectively, from $987mm and $1.88. We are also increasing our CY2011 revenue estimate to $1.34bn from $1.31bn, … Read the rest