Cree Company Profile (NASDAQ:CREE)

Cree trades on the NASDAQ under the ticker symbol "CREE."

Cree, Inc. (NASDAQ:CREE) released its quarterly earnings results on Tuesday, April, 25th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.09 by $0.20. The company earned $341.51 million during the quarter, compared to analyst estimates of $339.41 million. Cree had a negative net margin of 7.36% and a positive return on equity of 0.33%. Cree's revenue was down 6.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.17 EPS. View Cree's Earnings History.

Cree is scheduled to release their next quarterly earnings announcement on Tuesday, August, 22nd 2017. View Earnings Estimates for Cree.

Cree updated its fourth quarter earnings guidance on Friday, May, 19th. The company provided earnings per share guidance of $0.02-0.07 for the period, compared to the Thomson Reuters consensus estimate of $0.04. The company issued revenue guidance of $340-360 million, compared to the consensus revenue estimate of $349.86 million.

12 brokerages have issued 1 year price objectives for Cree's shares. Their predictions range from $17.00 to $29.00. On average, they anticipate Cree's share price to reach $24.71 in the next twelve months. View Analyst Ratings for Cree.

Here are some recent quotes from research analysts about Cree stock:

• 1. According to Zacks Investment Research, "Cree, Inc. is a market-leading innovator and manufacturer of semiconductors that enhance the value of solid-state lighting, power and communications products by significantly increasing their energy performance and efficiency. Key to Cree's market advantage is its world-class materials expertise in silicon carbide and gallium nitride for chips and packaged devices that can handle more power in a smaller space while producing less heat than other available technologies, materials and products. Cree drives its increased performance technology into multiple applications, including exciting alternatives in brighter and more-tunable light for general illumination, backlighting for more-vivid displays, optimized power management for high-current switch-mode power supplies and variable-speed motors, and more-effective wireless infrastructure for data and voice communications. Cree customers range from innovative lighting-fixtures makers to defense-related federal agencies. " (7/18/2017)
• 2. Needham & Company LLC analysts commented, "We are actually incrementally more positive on CREE after termination of the Wolfspeed divestiture to Infineon [Not Rated] due to regulatory concerns. While management's strategy is to transform Cree from a device manufacturer to becoming a lighting company, we have been concerned about the unintended consequence of the deal. Since selling Wolfspeed would offload a large profit contributor, we believe CREE could be hastened to quickly redeploy that capital in acquisitions, ultimately leading to buying a "wrong" asset. We like the decision to keep Wolfspeed especially as it appears the business is entering a new growth phase and contributing solid profits to the overall company. With the model in flux and the loss of a cash for downside support for the stock, we maintain our Hold." (2/17/2017)
• 3. UBS AG analysts commented, "Cree's had in line results excluding the $0.13 EPS benefit from its legal settlement with Feit. We keep a Sell rating as it is at the high end of its historical range at 50x its FY18E EPS of $0.54 despite sales trends just starting to stabilize. We believe the stock could trade higher in the near term as its main peer Acuity Brands missed guidance and Cree hit its guidance. We estimate the settlement from FEIT in the quarter was $27M and negative reserve effects for a defective driver in its lighting products were $8M. Lighting sales and margins were in line with expectations when excluding these impacts. Cree reported strong quoting activity and its Mar-17 lighting sales were guided better than the normal -5% q/q seasonality. Cree expects this to more positively impact sales in late FY2017 and into FY2018 given the 9-12 month conversion cycle." (1/25/2017)
• 4. Canaccord Genuity analysts commented, "Cree's pivot towards being an LED lighting pure-play will take time, as the core commercial lighting business stays more muted and (recent) encouraging signs in LED component pricing (and potential micro LED capacity absorption in the industry) are too early to suggest a sustainable trend toward margin expansion, in our view. Pivots take time, and the Street should be looking toward ~F2018 as a time frame to measure related progress, in our view." (1/19/2017)

Cree saw a increase in short interest during the month of June. As of June 30th, there was short interest totalling 12,822,600 shares, an increase of 24.1% from the June 15th total of 10,336,517 shares. Based on an average trading volume of 1,893,058 shares, the days-to-cover ratio is currently 6.8 days. Currently, 13.3% of the company's stock are short sold.

Some companies that are related to Cree include Siliconware Precision Industries Company (SPIL), Cypress Semiconductor Corporation (CY), Cavium (CAVM), Monolithic Power Systems (MPWR), Integrated Device Technology (IDTI), Sanmina Corporation (SANM), Silicon Laboratories (SLAB), Advanced Energy Industries (AEIS), Vishay Intertechnology (VSH), Semtech Corporation (SMTC), Tower Semiconductor (TSEM), Power Integrations (POWI), Mellanox Technologies (MLNX), Rogers Corporation (ROG), Cabot Microelectronics Corporation (CCMP), Celestica (CLS), Plexus Corp. (PLXS) and MaxLinear (MXL).

Cree's management team includes the folowing people:

• Charles M. Swoboda, Chairman of the Board, President, Chief Executive Officer
• Michael E. McDevitt, Chief Financial Officer, Executive Vice President
• Norbert W. G. Hiller, Executive Vice President - Lighting
• Robert A. Ingram, Lead Independent Director
• John Replogle, Director
• Alan J. Ruud, Director
• Anne Clem Whitaker, Director
• Clyde R. Hosein, Independent Director

Cree's stock is owned by many different of institutional and retail investors. Top institutional investors include Nisa Investment Advisors LLC (0.04%), Aperio Group LLC (0.04%), State Treasurer State of Michigan (0.04%), Horrell Capital Management Inc. (0.04%), Oregon Public Employees Retirement Fund (0.04%) and Clean Yield Group (0.03%). Company insiders that own Cree stock include Anne Clem Whitaker, Charles M Swoboda, Darren R Jackson, John B Replogle, Michael E Mcdevitt and Robert Alexander Ingram. View Institutional Ownership Trends for Cree.

Cree's stock was sold by a variety of institutional investors in the last quarter, including Capstone Asset Management Co. and Creative Planning. View Insider Buying and Selling for Cree.

Cree's stock was bought by a variety of institutional investors in the last quarter, including Horrell Capital Management Inc., Fox Run Management L.L.C., Aperio Group LLC, Nisa Investment Advisors LLC, Clean Yield Group, Oregon Public Employees Retirement Fund, Eqis Capital Management Inc. and LS Investment Advisors LLC. Company insiders that have bought Cree stock in the last two years include Charles M Swoboda, Darren R Jackson, John B Replogle and Michael E Mcdevitt. View Insider Buying and Selling for Cree.

Shares of Cree can be purchased through any online brokerage account. Popular online brokerages include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Scottrade, Fidelity and Charles Schwab.

One share of Cree stock can currently be purchased for approximately $26.46.