Chip Maker Cree Loses Money Because of Supply Problems. The Stock Takes a Hit. Chip maker Cree took a hit to from investors Wednesday after it reported a revenue loss from supply constraints and predicted losing more money in the coming few months. Shares of Cree (ticker: CREE) slid 7.7%, to $79.60 in afternoon trading.
Why did Cree stock go down?
Nov 17, 2021 · What happened. Shares of Wolfspeed ( WOLF 2.85% ), the company formerly known as Cree, were down 10.5% as of 1 p.m. ET on Wednesday. The semiconductor company, which specializes in silicon carbide ...
Is Cree’s price-to-sales ratio too high or too low?
Aug 18, 2021 · As of 10:49 a.m. EDT, Cree's stock has fallen 7.1%. It's not only the company's disappointing earnings report that's driving investors to hit the sell button; Wall Street is also unimpressed with ...
How has trcree’s price grown since 2018?
Apr 29, 2021 · 10 stocks we like better than Cree When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool ...
Is Cree a good investment?
(NASDAQ:CREE) is not the most popular stock in this group but hedge fund interest is still above average. Our overall hedge fund sentiment score for CREE is 56.4. Stocks with higher number of hedge fund positions relative to other stocks as well as relative to their historical range receive a higher sentiment score.Jul 6, 2021
Is Cree a buy or sell?
Is Cree stock A Buy? Cree holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
What happened Cree?
The company has sold off its LED products and lighting business. On Monday, it officially dropped the name Cree, which will still be used on lighting products sold by other companies now.Oct 4, 2021
Is Wolfspeed a good stock to buy?
Wolfspeed has received a consensus rating of Buy. The company's average rating score is 2.75, and is based on 3 buy ratings, 1 hold rating, and no sell ratings.
Will Cree stock go up?
We believe that Cree stock can rise almost 40% from current levels, to regain its early-2021 high of around $130.Jul 12, 2021
Is Cree publicly traded?
Cree expects to commence trading as a NYSE-listed company at market open on October 4, 2021 under the new ticker symbol 'WOLF'. The Company will continue to trade its common stock on the Nasdaq until the close of the market on October 1, 2021.Sep 16, 2021
Who bought Cree?
SMART Global HoldingsNEWARK, Calif., – March 1, 2021 – SMART Global Holdings, Inc. (“SGH” or “SMART” or the “Company”) (NASDAQ: SGH), today announced that it has completed its acquisition of Cree, Inc.'s (NASDAQ:CREE) Cree LED Products business unit (“Cree LED”).Mar 1, 2021
How much is Cree lighting worth?
For its third quarter of fiscal 2019 ending March 31, 2019, Cree targets revenue from continuing operations in a range of $271 million to $277 million. Wolfspeed revenue is targeted in a range of $139 million to $141 million, and LED Products revenue is targeted in a range of $132 million to $136 million.Mar 14, 2019
Who owns Cree lighting?
IDEAL INDUSTRIES, INC.SYCAMORE, Ill., March 15, 2019 (GLOBE NEWSWIRE) -- IDEAL INDUSTRIES, INC. today announced the acquisition of Cree Lighting, which includes the LED lighting fixtures, lamps and intelligent lighting control solutions business for commercial, industrial and consumer applications of Cree, Inc. (CREE – NASDAQ).Mar 15, 2019
Is Wolfspeed profitable?
According to the 16 industry analysts covering Wolfspeed, the consensus is that breakeven is near. They expect the company to post a final loss in 2023, before turning a profit of US$70m in 2024. The company is therefore projected to breakeven around 3 years from now.Oct 27, 2021
Who are Wolfspeeds customers?
These are sold primarily to customers and distributors for use in electric vehicles, including charging infrastructure, server power supplies, solar inverters, uninterruptible power supplies, industrial power supplies, and other applications.Aug 30, 2019
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 ( WOLF -3.46% ) 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.
Chip Maker Cree Loses Money Because of Supply Problems. The Stock Takes a Hit
Chip maker Cree took a hit to from investors Wednesday after it reported a revenue loss from supply constraints and predicted losing more money in the coming few months.
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