Cree Inc (CREE) has announced the XLamp CXA20 LED array designed to accelerate the LED lighting revolution, providing 60 watt A-lamp equivalent output but consuming just 11 watts.
“Cree continues to bring the broadest family of lighting-class LEDs to market, ensuring that lighting applications have optimized LED light sources,” said Norbert Hiller, Cree vice president and general manager, LED Components. “For lighting manufacturers seeking Cree … Read the rest
Cree Inc (CREE) has had quite a run off the bottom in recent weeks and the run continues this morning with the stock up about another 7% on a few bullish calls.
Morgan Keegan upgraded the stock from Market Perform to Outperform and raised the price target from just $48 to $75 a few days ago. They said the headwinds are dissipating and than the supply/demand balance will be gone by the end of this … Read the rest
24/7 Wall St published their list of the 25 most important alternative energy companies a few days ago and broke it down by category. I thought I’d highlight the companies they consider to be the most important in each category (which I agree with) and add in some of my own thoughts. There is one glaring omission in 24/7 Wall St’s report and that is geothermal. Geothermal remains the red headed step child of the … Read the rest
According to Barrons Barclaysinitiated coverage of the LED sector yesterday with ratings on Cree Inc (CREE), Veeco Instruments (VECO) and Aixtron (AIXG) which are what I’d call the top tier LED plays.
VECO gets the highest rating at Overweight. They like the fact the company is now an LED pure play with growth China.
Yesterday, Deutsche Bank posted some positive comments on the China solar stocks, upgrading Suntech (STP) to Buy and reiterating buys on TSL, SOL and YGE. This morning they are weighing in on two of the big US solar plays MEMC Electronic Materials (WFR) and Sunpower (SPWRA) and aren’t as bullish. They have slashed the price target on WFR from $18 to $15 and the price target on SPWRA from $25 to $17 due to … Read the rest
Cree Inc (CREE) reported another quarter of strong growth, but it wasn’t enough to appease traders who are still looking for perfect quarters from this LED high flyer. The company wasn’t able to achieve perfection this time around, reporting mixed results. They reported a non GAAP EPS of .60/share which beat analyst estimates of .58/share but revenues came in a bit shy of the analyst expectations at $268 million (vs the estimate of $277 million). … Read the rest
According to Barrons, the top tier LED stocks which include Cree Inc (CREE), Veeco Instruments (VECO) and Aixtron (AIXG) are getting hit today after a downgrade this morning from Avian Securities. The firm downgraded both AIXG and VECO to Neutral from Positive citing higher inventories, weaker consumer spending in China and utilization cuts at LCD makers. These stocks are down from 6 – 9% today, VECO getting hit the hardest. For those looking to … Read the rest
Kaufman Bros. has initiated overage of the big 3 LED stocks this morning according to Barrons.
Cree Inc (CREE) was initiated at Hold with a $58 price target. They see CREE as the leader and one that deserves a premium valuation, but the stock is a bit overdone to the upside. CREE is trading up about 1%, but remains relatively weak technically and looks like it wants to test the $50 level at some … Read the rest
A few analyst rating changes to tell you about today.
Bank of America (BAC) is maintaining its Buy rating on Cree Inc (CREE) and increased 2012 EPS estimates to $3.21 per share. Shares of CREE are holding the flat line today despite a healthy down day in the overall market.
Cree Inc (CREE) announced a big breakthrough this morning in the development of silicon carbide technology which is used in the production of a broad range of products including LEDs. They have demonstrated the use of 150mm diameter substrates enabling further cost reduction and greater throughput over the standard 100mm size.