In a report released today, Colin Rusch from Oppenheimer maintained a Hold rating on Cree (CREE). The company’s shares closed last Monday at $38.67.
According to TipRanks.com, Rusch is a top 100 analyst with an average return of 16.9% and a 50.0% success rate. Rusch covers the Industrial Goods sector, focusing on stocks such as American Superconductor, Capstone Turbine, and Fuelcell Energy.
Cree has an analyst consensus of Hold, with a price target consensus of $46.50.
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Based on Cree’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $240 million and GAAP net loss of $52.8 million. In comparison, last year the company earned revenue of $281 million and had a GAAP net loss of $2.5 million.
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Cree, Inc. is a manufacturer of lighting-class light emitting diode (LED) products, lighting products and semiconductor products for power and radio-frequency (RF) applications. It operates through the following segments: Wolfspeed, LED Products, and Lighting Products. The Wolfspeed segment products consists of silicon carbide (SiC) and gallium nitride (GaN) materials, power devices and RF devices based on silicon (Si) and wide bandgap semiconductor materials. The LED Products segment includes LED chips, LED components and SiC materials. The Lighting Products segment consists of LED lighting systems and bulbs for the commercial, industrial and consumer markets. The Power and RF Products segment includes power devices and RF devices. The company was founded by Calvin H. Carter Jr., John W. Palmour, F. Neal Hunter, Eric Hunter, and John Edmond in 1987 and is headquartered in Durham, NC.
