Cree is expanding their LED manufacturing capacity in North Carolina. This year, they will add an additional 275 jobs at their Durham, North Carolina facility. They have also begun manufacturing LEDs at the Flextronics facility in Mecklenburg County, N.C.
In a press release, Cree CEO Chuck Swoboda commented on the expansion:
“We are seeing tremendous growth for LED lighting. Energy-efficient lighting has its roots right here in North Carolina, and Cree is proud to be … Read the rest
Kaufman Bros. is downgrading CREE from Buy to Hold based on valuation.
Hat tip to StreetInsider.com for the following analyst comment:
“Given the optimism in the market, we would not be surprised to see Cree shares climb higher, but the stock has reached our target and we would recommend investors remain on the sidelines until the shares present a better buying opportunity. CREE shares are now trading at 4x tangible book and 48x our calendar … Read the rest
Cree has been on a roll in the past several months with quite a few upgrades, increasing awareness about LED’s and Cree’s leadership role, not to mention the doubling of its stock price. Let the good times roll. The company reported a strong quarter after the bell today and the stock is surging about 7% after hours on the news. They beat the EPS estimate by a penny, posting .18/share in profit which is a … Read the rest
Merriman Curhan Ford is upgrading Cree Inc (CREE) from Neutral to Buy this morning, saying the LED outlook is getting brighter.
Hat tip to StreetInsider.com for the following analyst comment:
“Cree recently raised its June quarter outlook and we believe the company could meet or exceed the high end of its recently revised guidance. LEDs are rapidly replacing CCFLs in TV backlighting and quickly gaining acceptance in the general lighting market that is benefiting Cree … Read the rest
I missed this earlier this morning which certainly helped push the stock significantly higher for the 2nd day in a row. Canaccord Adams upgraded Cree Inc (CREE) from Sell to Hold and raised the price target from $17 to $29.
Hat tip to StreetInsider.com for the following analyst comment.
“Our sources in the supply chain indicate that Cree is likely to see better margins this quarter, and we expect the company could likely beat the … Read the rest
Cree just announced that its LED lights have been used to illuminate North Carolina’s first LEED-certified McDonald’s franchise. The store, which was rebuilt to achieve LEED gold certification, expects to have the certification confirmed by October.
CREE’s LED lights make up 97% of the lighting system in the building, which uses a whopping 78% less energy that conventional lighting. The building is also designed with skylights to allow natural light to enter the store, and … Read the rest
Morgan Joseph has initiated coverage on Cree Inc (CREE) this morning with Hold saying the stock is fairly valued at current levels. The firm believes Cree is the best play on LED’s and is gaining market share of 1-2% per year while its largest competitor, Nichia, continues to lose share. They don’t believe LED’s are a fad, but rather a long term growth story. The other publicly traded LED play to keep an eye on … Read the rest
Cree, Inc just announced the release of a new line of Z-Rec Silicon-Carbide power diodes: 600V SiC Junction Barrier Schottky (JBS) diodes. These diodes are mainly used in boost diode applications in power factor correction (PFC) circuits, where their improved efficiency gives them an edge over silicon diodes, shrinking AC-DC power supply losses by 10%, due to zero reverse-recovery current.
In a company press release, Cree’s VP and GM for power and RF, Dr. … Read the rest
Cree Inc (CREE) has been on fire over the past several months and clearly emerging as a leader in the LED space. Today they announced the first commercially available water resistant LEDs for outdoor video screens. Previously, LED’s screens had to be protected from the elements, costing customers time and money so the encapsulation at the LED level is a big improvement. The red-green-blue LED has an IPx5 rating indicating it’s protected from low … Read the rest
Cree Inc (CREE) continues to trend up along that 50 day moving average and will get another nice pop up in the morning after the company came out after the bell and raised guidance due to stronger LED demand for both lighting and notebook computers. For the 4th quarter ending June 28th, the company now targets revenue in the range of $143 – $150 million and non GAAP earnings of .15 – .17/share. On their … Read the rest