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
Cree, Inc just released a new multichip MC-E LED, the XLamp MC-E. This product combines red, white, green and blue LED chips in a single LED light. With their color-changing capabilities and small size, these lights are ideal for architectural and entertainment uses. As a bonus, their footprint is 80% smaller than that of the existing XLamp color LEDs.
CREE is also demonstrating a new cool white LED lamp at this week’s LIHGTFAIR International … Read the rest
Cree Inc (CREE) reported after the bell today and beat lowered expectations by posting a non GAAP EPS of .13/share (beating estimates by .02) on revenues of $131 million which was basically in line with estimates. While the company beat estimates and guided revenues a touch higher for next quarter, the growth over the year ago quarter was relatively flat. Earnings were down 7% from the year ago quarter while revenues were up 5%. That’s … Read the rest
Echelon’s (ELON) LonWorks technology will be used in California’s first smart streetlight project in San Jose which is part of the City’s Green Vision. The plan calls for a transformation of San Jose into an epicenter of clean technology and innovation in order to promote green energy and limit energy use.
125 streetlights will be converted to use LED and will be controlled with Echelon’s power line networking technology and segment controllers, improving quality, decreasing … Read the rest
Despite the faltering economy, Cree Inc’s CEO Chuck Swoboda told Reuters that he expects demand for LED lighting to grow in the next year. Although he described the company’s third quarter as a "quiet period," he remained optimistic about the future, saying
"When you look at energy efficiency there aren’t many things that can have as big an opportunity in the near term as switching to more efficient lighting," Swoboda said.
He also advised that … Read the rest
PowerSecure Intl (POWR) is announcing $10 million in new orders from utilities and businesses for its smart grid and efficient LED lighting systems. Orders include:
– Interactive Distributed Generation (IDG) Systems: smart grid enabled distributed generation systems supported by PowerSecure’s monitoring team who forecast peak electricity demand and deliver more efficient power when needed and ensure customers are protected against power loss
– NexGear Systems: switchgear systems and electronic controls to connect the grid to … Read the rest
Rubicon Technology (RBCN), which makes components for LED lighting is off about 4% in after hours trading after missing analyst estimates with a wider loss than expected last quarter. The company reported a loss of .09/share vs estimates of .06/share. Revenues came in at 4 million vs the expectation of 4.82 million. After growing rapidly over the past few years and producing its first profitable year last year, this is a company going backwards in … Read the rest
Energy Focus (EFOI), a leading energy efficient lighting specialist is up more than 20% today (keep in mind it’s a penny stock) after it announced it’s been recognized as an official GSA Schedule contractor to the US Government which opens up it’s product line for the potential use in projects determined by the $787 economic stimulus package.
“Becoming a recognized GSA Schedule contractor will expedite the procurement of Energy Focus’ energy efficient and green products … Read the rest
Yesterday, Cree Inc (CREE) announced that it has come to a resolution in its LED patent dispute with California startup Bridglux. As part of the agreement, CREE has granted Bridgelux a license for the patents in exchange for fees and royalties and will now be a major supplier for Bridgelux
“This agreement creates a collaborative environment between Bridgelux and Cree, while affirming the commitment of both companies to the protection of intellectual property,” stated Mark … Read the rest