Cree announced that the company will change its name, officially, to Wolfspeed, Inc., on October 4, the same day the company’s common stock will be traded on the New York Stock Exchange under ticker symbol WOLF.
Full Answer
What happened to Cree Inc?
May 02, 2022 · 9 brokerages have issued 1 year price targets for Cree's shares. Their forecasts range from $80.00 to $120.00. On average, they anticipate Cree's share price to reach $96.78 in …
Should you hold cree (cree) stock?
Apr 29, 2021 · What happened. Shares of power and radio frequency semiconductor specialist Cree ( WOLF 6.09%) are crashing today, down by 13.7% as of 12:45 p.m. EDT, despite the fact …
What companies does Cree own?
Oct 04, 2021 · The company, formerly known as Cree, Inc. (Nasdaq: CREE), officially launches under its new name with the support of a comprehensive, multi-channel, integrated marketing …
Who is the founder of Cree?
Oct 04, 2021 · It's official: Cree is now "Wolfspeed," and the company's stock now trades on the NYSE under ticker symbol "WOLF." Plus: General Motors is a new customer.
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What happened to Cree Company?
Is Cree now Wolfspeed?
Did Wolfspeed Buy CREE?
Who bought CREE?
Is Cree a buy right now?
9 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Cree in the last year. There are currently 1 sell rating...
How were Cree's earnings last quarter?
Cree, Inc. (NASDAQ:CREE) posted its earnings results on Monday, August, 16th. The LED producer reported ($0.23) earnings per share (EPS) for the qu...
What price target have analysts set for CREE?
9 brokerages have issued 1 year price targets for Cree's shares. Their forecasts range from $80.00 to $120.00. On average, they anticipate Cree's s...
Who are Cree's key executives?
Cree's management team includes the following people: Gregg A. Lowe , President, Chief Executive Officer & Director Rick McFarland , Senior Vice...
What is Gregg Lowe's approval rating as Cree's CEO?
102 employees have rated Cree CEO Gregg Lowe on Glassdoor.com . Gregg Lowe has an approval rating of 96% among Cree's employees. This puts Gregg L...
Who are some of Cree's key competitors?
Some companies that are related to Cree include NVIDIA (NVDA) , Broadcom (AVGO) , Intel (INTC) , Texas Instruments (TXN) , Micron Technology (...
What other stocks do shareholders of Cree own?
Based on aggregate information from My MarketBeat watchlists, some companies that other Cree investors own include NVIDIA (NVDA) , Intel (INTC) ,...
What is Cree's stock symbol?
Cree trades on the NASDAQ under the ticker symbol "CREE."
Who are Cree's major shareholders?
Cree's stock is owned by many different retail and institutional investors. Top institutional shareholders include Arbor Capital Management Inc. AD...
What happened
Shares of power and radio frequency semiconductor specialist Cree ( WOLF -3.46% ) are crashing today, down by 13.7% as of 12:45 p.m. EDT, despite the fact that the company exceeded expectations in its fiscal Q3 2021 earnings report last night.
So what
So what has investors so upset with Cree this afternoon? Well, there's the fact that Cree is still losing money, for one thing.
Now what
And you can expect those losses to continue.
When did Cree change its name?
Cree announced that the company will change its name, officially, to Wolfspeed, Inc., on October 4, the same day the company’s common stock will be traded on the New York Stock Exchange under ticker symbol WOLF.
Is Cree now Wolfspeed?
DURHAM – Cree is now officially Wolfspeed. And it has a significant new customer: General Motors.
Who is Scott from Motley Fool?
A member of The Motley Fool since 2006, Scott began contributing content in 2013. His focus includes renewable energy, gold, and water utilities. Follow him on Twitter. . . Follow @scott81236
Is Cree a leader in power?
A leader in power and radio frequency semiconductors as well as LED lighting, Cree ( NYSE:WOLF) reported fourth-quarter 2021 earnings yesterday after the closing bell, and investors are not happy with the company's results. As of 10:49 a.m. EDT, Cree's stock has fallen 7.1%.
What happened
Cree ( WOLF 1.08% ) stock is tumbling, getting pummeled 8.2% (as of 1:40 p.m. EST) after the company reported a bit of a sales beat last night...but an earnings miss, and a warning of worse earnings to come.
So what
Despite beating expectations, Cree's sales declined 14% year over year. Earnings, which already looked pretty bad for being negative, were even more negative when calculated according to generally accepted accounting principles ( GAAP ), rather than the pro forma accounting that analysts focus on.
NYSE: WOLF
Despite all this bad news, Cree CEO Gregg Lowe insisted that, "we continue to see growing momentum for silicon carbide as demonstrated by our robust opportunity pipeline and recent customer wins," and said he sees "several growth opportunities across multiple sectors" in the long term.
Now what
It's the short term, though, that's worrying investors. Wall Street had been hoping to see sales rebound to nearly $238 million at Cree in the third quarter, alongside a shrinking pro forma loss of only $0.07 per share.
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What happened
Shares of Cree (NASDAQ: CREE) slumped on Wednesday after the LED and semiconductor company reported its fiscal fourth-quarter results. While Cree beat analyst estimates for revenue and earnings, a weak first-quarter outlook sent the stock lower. Cree stock was down about 16.2% at 11:30 a.m. EST.
So what
Cree reported fourth-quarter revenue of $251.2 million, down 5% year over year but $2.25 million above the average analyst estimate. Revenue from the Wolfspeed segment grew 22% to $134.2 million, while LED products revenue slumped 25% to $117.0 million.
Now what
That challenging environment will continue into Cree's fiscal first quarter. The company expects to produce first-quarter revenue of $237 million to $243 million, along with a non-GAAP net loss per share between $0.03 and $0.07. Analysts had been expecting revenue guidance of $259.2 million and a non-GAAP profit of $0.15 per share.
