Cree, Inc. provides lighting-class light emitting diode (LED) and semiconductor products for power and radio-frequency (RF) applications in the United States, China, Europe, and internationally. It operates in two segments, Wolfspeed and LED Products. The Wolfspeed segment offers silicon carbide (SiC) materials for RF, power switching, gemstones, and other applications. It also provides SiC power device products, including SiC Schottky diodes, metal oxide semiconductor field effect transistors (MOSFETs), power modules, and gate driver boards for electric vehicles, including charging infrastructure, server power supplies, solar inverters, uninterruptible power supplies, industrial power supplies, and other applications. In addition, this segment offers gallium nitride (GaN) die, high-electron mobility transistors (HEMTs), monolithic microwave integrated circuits (MMICs), and laterally diffused MOSFET (LDMOS) power transistors for telecommunications infrastructure, military, and other commercial applications; and custom die manufacturing services for GaN HEMTs and MMICs. The LED Products segment provides blue and green LED chip products for 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. The company was founded in 1987 and is headquartered in Durham, North Carolina.
IPO Year: 1993
Exchange: NASDAQ
Website: cree.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 9/27/2021 | $100.00 → $90.00 | Hold | Deutsche Bank |
| 9/17/2021 | $93.00 | Neutral → Underperform | BofA Securities |
| 8/18/2021 | $140.00 → $93.00 | Buy → Neutral | BofA Securities |
| 8/18/2021 | $110.00 → $80.00 | Neutral | Piper Sandler |
| 8/18/2021 | $132.00 → $136.00 | Buy | Canaccord Genuity |
| 8/18/2021 | $115.00 → $85.00 | Equal-Weight | Wells Fargo |
| 8/16/2021 | $150.00 → $115.00 | Outperform | Cowen & Co. |
| 7/12/2021 | $126.00 → $132.00 | Buy | Canaccord Genuity |
Deutsche Bank reiterated coverage of Cree with a rating of Hold and set a new price target of $90.00 from $100.00 previously
BofA Securities downgraded Cree from Neutral to Underperform and set a new price target of $93.00
BofA Securities downgraded Cree from Buy to Neutral and set a new price target of $93.00 from $140.00 previously
Piper Sandler reiterated coverage of Cree with a rating of Neutral and set a new price target of $80.00 from $110.00 previously
Canaccord Genuity reiterated coverage of Cree with a rating of Buy and set a new price target of $136.00 from $132.00 previously
Wells Fargo reiterated coverage of Cree with a rating of Equal-Weight and set a new price target of $85.00 from $115.00 previously
Cowen & Co. reiterated coverage of Cree with a rating of Outperform and set a new price target of $115.00 from $150.00 previously
Canaccord Genuity reiterated coverage of Cree with a rating of Buy and set a new price target of $132.00 from $126.00 previously
JP Morgan upgraded Cree from Underweight to Neutral and set a new price target of $108.00
JP Morgan upgraded Cree from Underweight to Neutral
DURHAM, N.C.--(BUSINESS WIRE)--Cree, Inc. (Nasdaq: CREE), the global leader in silicon carbide technology, announced today that Marvin A. Riley has been appointed to the Company’s Board of Directors, effective January 25, 2021. Mr. Riley is president and chief executive officer of EnPro (NYSE: NPO), a leading industrial technology company using materials science to push boundaries in semiconductor, life sciences, and other technology-enabled sectors. “Marvin’s extensive experience in the global manufacturing and automotive sectors will be a unique asset for the company as we work with the executive team to capitalize on the vast opportunities ahead for Cree’s silicon carbide in a
DURHAM, N.C.--(BUSINESS WIRE)--Cree, Inc. (Nasdaq: CREE), the global leader in silicon carbide technology, announced today that Marvin A. Riley has been appointed to the Company’s Board of Directors, effective January 25, 2021. Mr. Riley is president and chief executive officer of EnPro (NYSE: NPO), a leading industrial technology company using materials science to push boundaries in semiconductor, life sciences, and other technology-enabled sectors. “Marvin’s extensive experience in the global manufacturing and automotive sectors will be a unique asset for the company as we work with the executive team to capitalize on the vast opportunities ahead for Cree’s silicon carbide in a
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Cree, Inc. (NASDAQ:CREE) today announced revenue from continuing operations of $145.8 million for its fourth quarter of fiscal 2021, ended June 27, 2021. This represents a 35% increase compared to revenue from continuing operations of $108.4 million reported for the fourth quarter of fiscal 2020, and a 6% increase compared to the third quarter of fiscal 2021. GAAP net loss from continuing operations for the fourth quarter of fiscal 2021 was $145.2 million, or $1.26 per diluted share, compared to GAAP net loss from continuing operations of $44.2 million, or $0.41 per diluted share, for the fourth quarter of fiscal 2020. On a non-GAAP basis, net loss from continuing operations for the fourth
Cree, Inc. (NASDAQ:CREE), the global leader in silicon carbide technology through its Wolfspeed business, will conduct a conference call and audio webcast to discuss its fourth quarter fiscal 2021 results and business outlook on August 17, 2021, at 5:00 p.m. Eastern Time. After the close of the market on August 17, and prior to the conference call, Cree will issue a copy of the earnings press release via Business Wire. The press release may also be viewed on Cree's website at www.cree.com. To listen to a live webcast of the call, simply go to http://investor.cree.com/events.cfm and follow the login instructions. The recorded webcast will also be available at the site for replay. About Cr
Cree, Inc. (NASDAQ:CREE) today announced revenue from continuing operations of $137.3 million for its third quarter of fiscal 2021, ended March 28, 2021. This represents a 21% increase compared to revenue from continuing operations of $113.9 million reported for the third quarter of fiscal 2020, and an 8% increase compared to the second quarter of fiscal 2021. GAAP net loss from continuing operations for the third quarter of fiscal 2021 was $66.5 million, or $0.59 per diluted share, compared to GAAP net loss from continuing operations of $56.2 million, or $0.52 per diluted share, for the third quarter of fiscal 2020. On a non-GAAP basis, net loss from continuing operations for the third qua
DURHAM, N.C.--(BUSINESS WIRE)--Cree, Inc. (Nasdaq: CREE) today announced revenue from continuing operations of $127.0 million for its second quarter of fiscal 2021, ended December 27, 2020. This represents a 5% increase compared to revenue from continuing operations of $120.7 million reported for the second quarter of fiscal 2020, and a 10% increase compared to the first quarter of fiscal 2021. GAAP net loss from continuing operations for the second quarter of fiscal 2021 was $54.3 million, or $0.49 per diluted share, compared to GAAP net loss from continuing operations of $57.9 million, or $0.54 per diluted share, for the second quarter of fiscal 2020. On a non-GAAP basis, net loss
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Company Begins Trading Today Under New Ticker "WOLF" on NYSE Following a massive four-year transformation, involving the divestiture of two-thirds of the business and a repositioning of the company's overall core strategy, today marks the creation of Wolfspeed, Inc. (NYSE:WOLF), the global leader in Silicon Carbide technology and production. 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 campaign. Wolfspeed has served as the brand for the company's Silicon Carbide materials and semiconductor devices business unit for the past six years. Built on a 30-year heritage of d
Cree, Inc. (NASDAQ:CREE), the global leader in Silicon Carbide technology through its Wolfspeed business, today announced that it will transfer the listing of its common stock to the New York Stock Exchange ("NYSE") from The Nasdaq Global Select Market. 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. As previously announced, the Company will also change its corporate name from Cree, Inc. to Wolfspeed, Inc. effective October 4, 2021. "We are pleased to join the NYSE, one of the world's most prestig
Cree, Inc. (NASDAQ:CREE), the global leader in silicon carbide technology through its Wolfspeed business, today announced that Cengiz Balkas, senior vice president and general manager of materials, and Tyler Gronbach, vice president of investor relations, will present virtually at the Citi 2021 Virtual Global Technology Conference on Wednesday, September 15, 2021 at 9:40AM ET. A live webcast of the presentation will be available on the Investor section of Cree's website. To access the webcast, please visit http://investor.cree.com/events.cfm. About Cree, Inc. Cree is an innovator of Wolfspeed® power and radio frequency (RF) semiconductors. Cree's Wolfspeed product families include silico
PR n°C3026C Cree | Wolfspeed and STMicroelectronics Expand 150mm Existing Silicon Carbide Wafer Supply Agreement Durham, N.C. and Geneva, Aug. 17, 2021 — Cree, Inc. (NASDAQ:CREE), the global leader in silicon carbide technology through its Wolfspeed® business, and STMicroelectronics (NYSE:STM), a global semiconductor leader serving customers across the spectrum of electronics applications, announced today the expansion of an existing multi-year, long-term silicon carbide wafer supply agreement. The amended agreement, which calls for Cree to supply ST with 150mm silicon carbide bare and epitaxial wafers over the next several years, is now worth more than $800 million. "This latest exp
Cree, Inc. (NASDAQ:CREE), the global leader in silicon carbide technology through its Wolfspeed® business, and STMicroelectronics (NYSE:STM), a global semiconductor leader serving customers across the spectrum of electronics applications, announced today the expansion of an existing multi-year, long-term silicon carbide wafer supply agreement. The amended agreement, which calls for Cree to supply ST with 150mm silicon carbide bare and epitaxial wafers over the next several years, is now worth more than $800 million. "This latest expansion to our long-term wafer supply agreement with Cree will continue to contribute to the flexibility of our global silicon carbide substrate supply. It will
Cree, Inc. (NASDAQ:CREE) today announced revenue from continuing operations of $145.8 million for its fourth quarter of fiscal 2021, ended June 27, 2021. This represents a 35% increase compared to revenue from continuing operations of $108.4 million reported for the fourth quarter of fiscal 2020, and a 6% increase compared to the third quarter of fiscal 2021. GAAP net loss from continuing operations for the fourth quarter of fiscal 2021 was $145.2 million, or $1.26 per diluted share, compared to GAAP net loss from continuing operations of $44.2 million, or $0.41 per diluted share, for the fourth quarter of fiscal 2020. On a non-GAAP basis, net loss from continuing operations for the fourth
Cree, Inc. (NASDAQ:CREE), the global leader in silicon carbide technology through its Wolfspeed business, will conduct a conference call and audio webcast to discuss its fourth quarter fiscal 2021 results and business outlook on August 17, 2021, at 5:00 p.m. Eastern Time. After the close of the market on August 17, and prior to the conference call, Cree will issue a copy of the earnings press release via Business Wire. The press release may also be viewed on Cree's website at www.cree.com. To listen to a live webcast of the call, simply go to http://investor.cree.com/events.cfm and follow the login instructions. The recorded webcast will also be available at the site for replay. About Cr
Cree, Inc. (NASDAQ:CREE), the global leader in silicon carbide technology through its Wolfspeed® business, today announced that John Palmour, Chief Technology Officer, will present virtually at the Canaccord Genuity 41st Annual Growth Conference on Tuesday, August 10 at 12:00PM ET. A live webcast of the presentation will be available on the Investor section of Cree's website. To access the webcasts, please visit http://investor.cree.com/events.cfm. About Cree, Inc. Cree is an innovator of Wolfspeed® power and radio frequency (RF) semiconductors. Cree's Wolfspeed product families include silicon carbide materials, power-switching devices and RF devices targeted for applications such as el
Cree, Inc. (NASDAQ:CREE), the global leader in Silicon Carbide (SiC) technology through its Wolfspeed business, today announced the expansion of the operations leadership team as part of the Company's accelerated growth and capacity expansion plans and planned retirement of Rick McFarland, Cree's Senior Vice President of Global Operations, in the Summer of 2022. Rex Felton, currently directing the construction of the company's new silicon carbide facility in Marcy, NY, will now oversee the company's fab operations, planning functions and quality efforts reporting to Cree CEO Gregg Lowe. McFarland will continue to lead the company's materials and back end operations along with facilities an
New GaN on SiC Linearization Solution enables 5G base stations to support more high-speed data for mobile users MaxLinear, Inc. (NYSE:MXL), a leading provider of radio frequency (RF), analog, digital and mixed-signal integrated circuits, and Cree, Inc. (NASDAQ:CREE), the global leader in Silicon Carbide (SiC) technology through its Wolfspeed business, announced breakthrough performance when combining MaxLinear's ultra-wideband linearization solution (MaxLin) and Cree's Wolfspeed® Gallium Nitride (GaN) on SiC mid-band power amplifiers. The new solution increases wireless capacity of a 5G base station, supporting more simultaneous users and increasing the speed of data transmissions. The u