SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

   Technology StocksCree Inc.


Previous 10 Next 10 
From: slacker7119/27/2018 12:50:46 PM
   of 10461
 
Sanan Optoelectronics LED plant hit by explosion

digitimes.com

Siu Han, Taipei; Adam Hwang, DIGITIMES Thursday 27 September 2018 0 Toggle Dropdown
An explosion hit Sanan Optoelectronics' AlGaInP LED epitaxial wafer and chip plant in Tianjin, northern China, in mid-September, according to industry sources.

Since AlGaInP LED chips are used to make fine-pitch displays which sees robust demand currently and restoration of the China-based firm's production lines at the factory will take one to two months, the market may see short-term tight supply of such chips, the sources said.

China-based AlGaInP LED chip makers HC SemiTek and Xiamen Changelight and Taiwan-based Epistar may receive orders shifted from Sanan due to the accident, the sources indicated.

Sanan has over 400 MOCVD sets, and 50-60 of them are used to produce AlGaInP LED epitaxial wafers and chips, which account for 15% of the firm's consolidated revenues, the sources noted.

Share RecommendKeepReplyMark as Last ReadRead Replies (1)


To: slacker711 who wrote (9880)9/27/2018 12:51:46 PM
From: slacker711
   of 10461
 
Trade war set to hit China LED lighting makers

digitimes.com

Siu Han, Taipei; Adam Hwang, DIGITIMES Thursday 27 September 2018 0 Toggle Dropdown
The latest US plan to impose 25% of tariffs on China-made products beginning January 1, 2019 is expected to drive LED lighting vendors to reduce orders for China-based makers and shift some to Taiwan.

Over 30 LED lighting product items are included in the latest tariff list, and they account for nearly 80% of the value of China's lighting product exports to the US. As LED light bulbs and tubes are large-volume standardized products, vendors are expected to bear the additional tariffs to keep prices unchanged or slightly higher in the US market. But embedded and customized lighting products are much more expensive than light bulbs and tubes, and vendors will hike prices to reflect the tariff or seek suppliers outside China.

China-based makers have disclosed that they have received many rush orders with delivery by year-end 2018 to avoid the 25% tariffs.

The US announced its first-round of duties on China-made products in April 2018, covering only a few LED lighting product items. But China makers' exports to the US have since decreased much more than originally estimated as clients turned conservative.

Taiwan-based LED lighting makers, as their production cost is currently 10-15% higher than China-based competitors, may see clients shift orders from China. Taiwan-based Unity Opto Technology has already received inquiries from US-based vendors, industry sources have disclosed.

Share RecommendKeepReplyMark as Last Read


From: slacker71110/9/2018 8:33:40 AM
   of 10461
 
Cree rating change at JPMorgan Cree upgraded to Neutral from Underweight at JPMorgan. JPMorgan analyst Paul Coster upgraded Cree to Neutral with an unchanged price target of $35. The analyst sees a more balanced risk/reward following the recent underperformance of the shares. He cites valuation for the upgrade to Neutral.

Read more at:
thefly.com

Share RecommendKeepReplyMark as Last Read


From: slacker71110/16/2018 10:07:34 AM
   of 10461
 
Cree reports after the close today.

Nice outperformance so far today. I have a feeling trade issues will be front and center on the call. Hopefully, Cree has plans in place to mitigate the impact of the tariffs as much as possible.

Slacker

Share RecommendKeepReplyMark as Last Read


From: slacker71110/16/2018 4:06:50 PM
   of 10461
 
Cree Reports Financial Results for the First Quarter of Fiscal Year 2019
Tue October 16, 2018 4:01 PM|Business Wire|About: CREE
Q1: 10-06-18 Earnings Summary
Transcript News
EPS of $0.22 beats by $0.10 Revenue of $408.27M (+ 13.3% Y/Y) beats by $0.98M
DURHAM, N.C.--(BUSINESS WIRE)-- Cree, Inc. (CREE) today announced financial results for its first quarter of fiscal 2019, ended September 23, 2018. Revenue for the first quarter of fiscal 2019 was $408 million, which represents a 13% increase compared to revenue of $360 million for the first quarter of fiscal 2018. GAAP net loss for the first quarter of fiscal 2019 was $11 million, or $0.11 per diluted share. This compares to a GAAP net loss of $20 million, or $0.20 per diluted share, for the first quarter of fiscal 2018. On a non-GAAP basis, net income for the first quarter of fiscal 2019 was $22 million, or $0.22 per diluted share, compared to non-GAAP net income for the first quarter of fiscal 2018 of $4 million, or $0.04 per diluted share.

“Fiscal year 2019 is off to a strong start, with first quarter non-GAAP earnings per share that exceeded the top end of our target range driven by another quarter of robust growth in Wolfspeed combined with strong gross margin improvement in LED Products and Lighting," stated Gregg Lowe, Cree CEO. "This is an excellent result given the headwinds facing the businesses related to tariffs and global trade tensions. While these headwinds may persist for some time, we remain optimistic about the opportunity to increase shareholder value over the long term by executing our strategic plan.”

Business Outlook:

For its second quarter of fiscal 2019 ending December 30, 2018, Cree targets revenue in a range of $398 million to $418 million. GAAP net loss is targeted at $5 million to $10 million, or $0.05 to $0.10 per diluted share. Non-GAAP net income is targeted to be in a range of $15 million to $19 million, or $0.15 to $0.19 earnings per diluted share. Targeted non-GAAP income excludes $25 million of expenses, net of tax, related to stock-based compensation expense, the amortization or impairment of acquisition-related intangibles and interest accretion on our convertible notes' issue costs and fair value adjustments. The GAAP and non-GAAP targets do not include any estimated change in the fair value of Cree’s Lextar investment.

Share RecommendKeepReplyMark as Last Read


From: slacker71110/16/2018 4:12:02 PM
   of 10461
 
Cree, Inc. Announces Long-Term Silicon Carbide Wafer Supply Agreement with a Leading Global Semiconductor Company
OCTOBER 16, 2018
DURHAM, N.C. -- Cree, Inc. (Nasdaq: CREE) announces that it signed a strategic long-term agreement to produce and supply its Wolfspeed® silicon carbide wafers to one of the world’s leading power device companies. The agreement, valued at more than $85 million, governs Cree’s supply of advanced 150 mm silicon carbide bare and epitaxial wafers during this period of extraordinary growth and demand for silicon carbide power devices.

“Cree is committed to increasing and accelerating the adoption of silicon carbide-based solutions throughout the semiconductor industry. This customer’s importance to the power device industry is well known, so partnering with a leading power semiconductor company such as this is another big step in that commitment,” said Gregg Lowe, CEO of Cree. “We are extremely pleased to help drive adoption of silicon carbide in even more applications. As the world leader in silicon carbide, Cree is continuing to expand capacity to meet market demands with our industry-leading wafer technology to help achieve a new, more efficient future.”

Wolfspeed, A Cree Company, is the global leader in the manufacture of silicon carbide wafers and epitaxial wafers. The supply agreement, to be fulfilled through a Cree distributor, enables silicon carbide applications in broad markets such as renewable energy and storage, electric vehicles, charging infrastructure, industrial power supplies, traction and variable speed drives.

Share RecommendKeepReplyMark as Last Read


From: slacker71110/17/2018 9:49:31 AM
   of 10461
 
Random thoughts from the earnings report.

- The tariffs are having a substantial impact on the LED and lighting businesses. 3 cents and 75 basis of gross margin during the December quarter and another 5 cents in the March quarter. There is also a lag between the start of tariffs and their impact so I am not sure that 5 cents will be the maximum as the current 10% tariffs are supposed to go to 25% in January and there could be another round on the rest of Chinese imports.

- Wolfspeed continues to perform well. They had 16% sequential growth vs. the target of 13%. The doubling of capacity was completed during the September quarter which was a quarter ahead of plan. They are targeting another doubling of capacity over the next 24 months. Expect another 5% sequential growth in the December quarter.

- They are competing for power design wins worth over $1 billion. It sounded like most of that was in the EV sector.

- Lighting gross margins continue to improve with a 2.9% sequential improvement. They are targeting further improvement in Q2 and said that a "normal" lighting business should have GM's 5 to 7 percent higher than they were in Q1.

- LED gross margins were better than expected on better ASP's and factory execution. It seems to me that the strength in Wolfspeed is allowing them to pick their spots in the LED business. The capacity is fungible between the two businesses and Wolfspeed has higher gross margins.

- Share count increased by roughly 1% sequentially and 4.2% YoY. This is insane and will transfer much of the value that Cree will create from shareholders to insiders.

Slacker

Share RecommendKeepReplyMark as Last ReadRead Replies (1)


To: slacker711 who wrote (9886)10/19/2018 4:38:48 PM
From: Lou Weed
   of 10461
 
Nice summary Slacker.....

If they could just jettison the Lighting division we'd be a lot better off ;-)

BB

Share RecommendKeepReplyMark as Last Read


From: slacker71110/23/2018 8:41:45 AM
   of 10461
 
Cree Announces Annual Shareholders Meeting Election Results
OCTOBER 22, 2018
DURHAM, N.C., October 22, 2018 — Cree, Inc. (NASDAQ: CREE) announced today that the following changes have been made to its board of directors:

Mr. John C. Hodge and Ms. Duy-Loan T. Le have been elected to the board of directors.
Mr. Darren R. Jackson was appointed as chairman by the board of directors.
Mr. Robert A. Ingram and Mr. C. Howard Nye retired from their positions on the board of directors, upon expiration of their terms.
These changes were effective immediately following the 2018 Annual Meeting of Shareholders earlier today at the company’s headquarters in Durham.

“We are pleased to welcome Mr. Hodge and Ms. Le to the Cree board of directors,” said Darren Jackson, newly appointed chairman of Cree’s board of directors. “They will assist the leadership in shaping our vision to create a world-class semiconductor company. Their breadth of industry experience will be invaluable as we drive market expansion for SiC and GaN-based innovations focused on a variety of applications across diverse sectors such as automotive, telecommunications and energy. As we welcome our new directors, we would also like to thank Mr. Ingram and Mr. Nye for their dedication and service over their tenures on the board.”

Mr. Hodge brings a wealth of experience in private equity, corporate finance and merger and acquisition transactions, in addition to over 25 years as an investor and advisor to the global semiconductor and technology industry. He also has extensive experience as a director of semiconductor companies, including Silicon Image, Inc. (NASDAQ: SIMG) from 2007 to 2014 and Freescale Semiconductor, Ltd. (NYSE: FSL) from 2008 to 2011. In his current role, Mr. Hodge is a founding partner of private-equity firm Rubicon Technology Partners, which he founded in 2012. Prior to that, he was a senior advisor and senior managing director with Blackstone Group (NYSE: BX), a private equity firm, from 2006 to 2011.

Ms. Le has 33 years of experience in semiconductors, specifically in chip design, silicon manufacturing technology development and advanced technology manufacturing from concept to high volume production. Additionally, she has an extensive understanding of global business including managing R&D centers, joint ventures, foundries and partnerships. Ms. Le retired from Texas Instruments, Inc. (NASDAQ: TXN) in July 2017, most recently holding the title of senior fellow since 2002. During her 33-year career at Texas Instruments, Ms. Le held various leadership positions including advanced technology ramp manager for the embedded processing division and worldwide project manager for the memory division. She is currently a member of the board of directors of Ballard Power Systems (NASDAQ: BLDP) and National Instruments Corp. (NASDAQ: NATI).

Mr. Jackson joined Cree’s board of directors in May 2016. From July 2004 to January 2016, he served on the board of directors of Advance Auto Parts, Inc. (NYSE: AAP) and served as its CEO from January 2008 to January 2016. Mr. Jackson also served as president of Advance Auto Parts, Inc. from January 2008 to January 2009 and from January 2012 to April 2013. Prior to his tenure at Advance Auto Parts, he served in various executive positions with Best Buy Co., Inc. (NYSE: BBY) and Nordstrom, Inc. (NASDAQ: JWN). Mr. Jackson has also served as a director of Fastenal Company (NASDAQ: FAST), which sells industrial and construction supplies, since July 2012.

Share RecommendKeepReplyMark as Last Read


To: slacker711 who wrote (9845)10/24/2018 9:34:05 AM
From: slacker711
1 Recommendation   of 10461
 
STM says that they are now involved with 30 SiC projects (up from 25 last quarter). $100m in revenues this year for STM with the market growing to $3 billion in 2025.

seekingalpha.com

Andrew M. Gardiner - Barclays Capital Securities Ltd.


Understood. I had to try. Just perhaps another one on silicon carbide, you mentioned a few wins in the recent quarter. Can you give us a better sense as to when those might start to ship? I presume it's not next year, but in terms of 2020, 2021 sort of how you're thinking about the ramp over time? Thank you.


Jean-Marc Chery - STMicroelectronics NV


Well, this is – clearly with the usual product development lead time and incubation, okay, it will be more impact on 2020 and beyond for ST. But for the time being, I confirm that this year, we will execute and we will achieve $100 million revenue from silicon carbide. Our manufacturing machine is performing well according expectation, and these 30 (00:47:28) projects are simply consistent with our mission to be a leader of the silicon carbide market. And we know that with this market, we grow very fast, okay. For the time being, we have visibility to see $3 billion in 2025, and we want to perform this market consistently with our current market share generally speaking in Automotive well above 30%.

Share RecommendKeepReplyMark as Last ReadRead Replies (1)
Previous 10 Next 10