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   Technology StocksCree Inc.

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From: slacker7113/17/2019 8:01:12 PM
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Cree to sell lighting division for $310 million

By Lauren Ohnesorge – Senior Staff Writer, Triangle Business Journal
Mar 15, 2019, 9:41am EDT Updated Mar 15, 2019, 3:41pm EDT
A year after its big pivot, Durham’s Cree (Nasdaq: Cree) is selling its entire lighting division to Illinois-based Ideal Industries Inc. in a $310 million deal

CEO Gregg Lowe was not available to talk about the news Friday.

Cree expects to receive an initial cash payment of $225 million, subject to price adjustments and has the potential to receive a targeted earn-out payment of about $85 million based on the adjusted EBITDA metric for the lighting business over a 12-month period that starts two years after the deal closes.

According to a securities filing, the deal has already been approved by the boards of both companies. The filing also notes that Ideal “is expected to hire most of Cree’s approximately 1300 employees of the lighting products business.”


If all goes as expected, the deal will close in the fourth quarter of fiscal 2019. In its second quarter, announced in January, the lighting business accounted for $132.5 million in revenue.

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From: slacker7113/18/2019 7:31:04 AM
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I'll be disappointed if today's conference call doesnt talk about an acceleration of their SiC capacity plans and moving capacity from LED's seems like an obvious answer.

Epistar, Epileds report losses

Siu Han, Taipei; Adam Hwang, DIGITIMES Monday 18 March 2019 0 Toggle Dropdown

LED epitaxial wafer and chip makers Epistar and Epileds Technologies both saw operations swing into operating losses in fourth-quarter 2018 thanks to price drops resulting from severe chip oversupply.

Although some China-based LED makers began to cut output in fourth-quarter 2018, the oversupply has seen almost no improvements, industry sources said.

But Epistar managed to reduce its inventory value from NT$5.2 billion (US$169 million) at the end of third-quarter 2018 to NT$4.7 billion at the end of the fourth quarter, the sources noted.

Epistar has reported net loss per share of NT$0.42 for 2018, but its board of directors has still decided to distribute a cash dividend of NT$0.30 from reserved earnings and capital reserve. Epistar will raise paid-in capital by issuing 120 million shares for private placement or floating GDR (global depository receipt).

Epileds will also issue 20 million new shares for open sale or floating GDR to raise paid-in capital.

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To: slacker711 who wrote (9960)3/18/2019 8:58:17 AM
From: slacker711
1 Recommendation   of 10228
Very little detail in the call about future plans except that they are doing everything they can to bring in the timeline of doubling capacity within 24 months and the money in this deal is more about the next step beyond that.

Probably the best news in the call is that they plan to have an analyst day after the deal closes in Q4 and it sounds like they will update their plans then.

Overall, this deal increases the focus on Wolfspeed which is an obvious positive, but I really would like to hear more details about an acceleration of their buildout.


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From: slacker7113/20/2019 7:49:30 AM
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JMP Securities Upgrades Cree (CREE) to Market Outperform
March 20, 2019 2:08 AM EDT Send to a Friend
JMP Securities analyst Joseph Osha upgraded Cree (NASDAQ: CREE) from Market Perform to Market Outperform with a price target of $74.00

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To: slacker711 who wrote (9962)3/20/2019 8:37:14 AM
From: slacker711
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Cree +3% after upgrade on "dominant" position
Mar. 20, 2019 8:26 AM ET|About: Cree, Inc. (CREE)|By: Brandy Betz, SA News Editor
JMP Securities upgrades Cree (NASDAQ:CREE) from Market Perform to Market Outperform with a $74 PT citing the recent sale of the lighting business and its "dominant" position as a silicon carbide material supplier.

Cree shares are up 2.7% pre-market to $58.85.

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From: slacker7114/9/2019 5:29:17 PM
2 Recommendations   of 10228

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To: slacker711 who wrote (9964)4/12/2019 8:52:54 AM
From: Lou Weed
1 Recommendation   of 10228
EV is going to be the platform to really validate the SiC MOSFET as a viable high volume option. This should drive costs down over the coming years to open the door to applications that are just not quite there yet with the value add this technology brings.....UPS, motor drives for example. The future looks good....


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From: slacker7114/12/2019 10:11:13 AM
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This entire article is a must read. It highlights the long-term opportunity but also some of the dangers from their own customers. On Semi has also talked about their drive towards vertical integration of their SiC supply chain.

ST Bets Future on Silicon Carbide
By Nitin Dahad, 04.01.19


Speaking at the heart of its SiC plant in Catania last week, Marco Monti, president of ST’s automotive and discrete group, said he believed 50% of the power semiconductors market in 30 years will be based on SiC. While the company currently outsources the supply of ingots and substrates (with the epitaxy and wafer processing carried out in Catania) he said ST wants to have more control of the supply chain and bring it internal.

Monti said while ST already has plans to further integrate Norstel into its supply chain, the company isn’t ready to disclose them, saying it may reveal more at its capital markets day in May. He said the alliance with Cree is important, and the ambition is to be more vertically integrated. While its SiC is currently on 6-inch wafers, it intends to use its Norstel and local research links to push to 8-inch slices, probably by 2025.


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From: slacker7114/12/2019 2:27:12 PM
3 Recommendations   of 10228
The crossover point — when electric vehicles become cheaper than their combustion-engine equivalents — will be a crucial moment for the EV market. All things being equal, upfront price parity makes a buyer’s decision to buy an EV a matter of taste, style or preference — but not, for much longer, a matter of cost.

Every year, that crossover point gets closer. In 2017, a BloombergNEF analysis forecast that the crossover point was in 2026, nine years out. In 2018, the crossover point was in 2024 — six years (or, as I described it then, two lease cycles) out.

The crossover point, per the latest analysis, is now 2022 for large vehicles in the European Union. For that, we can thank the incredible shrinking electric vehicle battery, which isn’t so much shrinking in size as it is shrinking — dramatically — in cost.

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From: Lou Weed4/15/2019 9:16:06 AM
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Oy vay!

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