Piper Jaffray is out with a bullish call as well following the CREE earnings report and is maintaining its Overweight rating and raising the price target from $70 to $88. Hat tip to Street Insider for the following analyst comment:
“LED market remains a compelling growth opportunity. The LED market was roughly $6B in 2008 and we expect it to triple to $18B in 2013 (43% CAGR). Growth rates this high in markets this large … Read the rest
Cree Inc (CREE) is selling off in after hours trading more than 5% as traders “sell the news”. A big quarter was already priced in and traders are taking some profits. CREE beat both the consensus estimate of .44/share and the whisper number of .46 by posting a non GAAP EPS number of .47/share on revenues of $234 million. These numbers also beat the company’s estimate of revenues in the $215 – 225 million range … Read the rest
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While I find Apple’s sales pitch–“A magical and revolutionary product at an unbelievable price”–over the … Read the rest
The upgrades just keep coming for Cree Inc (CREE). Morgan Joseph upgraded the company from Neutral to Buy this morning and set a $100 price target. Hat tip to Street Insider for the following analyst comment:
“On Tuesday, after the close of trading, we expect Cree to announce F3Q10 sales and non-GAAP EPS of $220mm and $0.43, respectively, compared to Street expectations of approximately $223mm and $0.44, respectively. We expect LED sales to continue driving … Read the rest
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Cree just announced that their high brightness LEDs are being used in the American Airlines Center’s high definition video screens. The screens, which are made by Lighthouse Technology, are used to deliver images (like instant replays and scores) at sporting events, concerts and other entertainment events held at the center.
In a press release, Paul Thieken, Cree director of marketing, LED components, commented on the news:
“Cree’s … Read the rest
===> Click Here For Your FREE Cree Analysis
Cree Inc (CREE) has announced this morning the availability of the new XLamp XP-C color LED’s which are 10 – 50% brighter than its current line of midrange color LED’s. They are designed for .5 – 1 watt operation and compatible with existing optical designs, reducing design costs.
Cree Marketing Director Paul Thieken commented: “Cree continues to expand design options within our industry-leading XLamp XP LED family. … Read the rest
First Solar (FSLR) and Cree Inc (CREE) are two stocks moving in opposite directions, but they have one thing in common – the Chairman of both companies, Michael Ahearn at FSLR and Chuck Swoboda at CREEl, have been dumping stock. According to Street Insider, Ahearn has sold off 43% of his holdings or nearly $150 million just days after the company reported earnings. A move like that doesn’t exactly exude confidence and the stock … Read the rest
Two LED lighting plays that were on fire last year appear to be in the beginning stages of rolling over after torrid runs and downgrades from Merriman Curhan today didn’t help.
Hat tip to Street Insider for the analyst comments which are nearly identical.
CREE was downgraded from Buy to Neutral “We are concerned that extraordinarily strong MOCVD tool bookings from 2H09 to 1H10 could lead to near term over capacity that could in turn … Read the rest
Cree just announced a new distribution agreement with Arrow Electronics. Under the agreement, Arrow will distribute Cree’s SiC Junction Barrier Schottky (JBS) products, including the 600-V Schottky diodes and the 1200-V Schottky diode line.
In a press release, Bob Pollock, Cree’s senior VP of sales, commented on the news:
“Together, Cree and Arrow intend to accelerate the adoption of silicon carbide power semiconductors to create more efficient switching power supplies , alternative energy converters … Read the rest
Another very impressive quarter for Cree Inc (CREE) and traders are responding after hours by sending the stock up nearly 10% back to the big resistance area around 60. It will be interesting to see if it can take out that level and find a new level of support. I’m skeptical and if I were holding this stock into earnings, I’d be taking some profits off the table into the gap up tomorrow.
The company … Read the rest