Cree, Inc. provides lighting-class light emitting diode (LED), lighting, and semiconductor products for power and radio-frequency (RF) applications in the United States, China, Europe, South Korea, Japan, Malaysia, Taiwan, and internationally. Its Lighting Products segment offers LED lighting systems and bulbs for use in settings, such as office and retail space, restaurants and hospitality, schools and universities, manufacturing, healthcare, airports, municipal, residential, street lighting and parking structures, and other applications This segment sells its products to distributors, retailers, and customers. The company's LED Products segment provides blue and green LED chip products for use in various applications, including video screens, gaming displays, function indicator lights and automotive backlights, headlamps, and directional indicators. It also offers XLamp LED components and LED modules for lighting applications; and surface mount and through-hole packaged LED products for video, signage, general illumination, transportation, gaming, and specialty lighting applications. In addition, this segment provides silicon carbide (SiC) materials for RF, power switching, gemstones, and other applications. Its Power and RF Products segment offers SiC-based power products consisting of Schottky diodes, SiC metal semiconductor field-effect transistors, and SiC power modules for use in power supplies used in computer servers, solar inverters, uninterruptible power supplies, industrial power supplies, and other applications. This segment also provides gallium nitride (GaN) high electron mobility transistors (HEMTs) and monolithic microwave integrated circuits (MMICs) for military, telecom, and other commercial applications; and custom die manufacturing services for GaN HEMTs and MMICs. Cree, Inc. was founded in 1987 and is headquartered in Durham, North Carolina.
Dont look now CREE longs, but tomorrow is going to be ugly! CREE misses estimates and its own forecast badly. $367 mil revenues, 13-15 cents Non-GAAP EPS vs. expectations for $414 mil and 24 cents.
Reported after close today (4/26/16) Earnings: EPS $0.17 Revenue $366.9M Estimates: EPS $0.16 Revenue $376.3M
Q1 ER Estimates: Earnings Whisper: $0.13 Consensus: $0.12 Revenue: $324.15 Mil Date & Time of ER: Tuesday Oct 18 4:00 PM ET
Reported after close today (10/18/16) Earnings: EPS $0.15 Revenue $321.3M Estimates: EPS $0.11 Revenue $324.2M Down 9.72% after hours
Looks like a lot of people cashed out on that ER. Huge volume in that candle, and price has quickly fallen below that level. Looking for a pullback to 26.25 for a short. Company is currently unprofitable, and even the forward P/E=42 with negative EPS growth (-10%) the next 5 years. Recent news (http://www.bizjournals.com/triangle...eon-wolfspeed-deal-closure-now-uncertain.html):
