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Huawei and its affiliates have purchased multiple products from Qorvo’s Mobile Products and Infrastructure and Defense Products operating segments, and sales to Huawei and its affiliates accounted for approximately $469 million or 15% of Qorvo’s total revenue in its fiscal year ended March 30, 2019. Qorvo is continuing to review the impact of the BIS action on its business, including its ability to apply for and obtain licenses to allow it to ship products to Huawei in the future. Pending further developments, Qorvo has ceased shipments to Huawei and its affiliates and cannot predict when it will be able to resume such shipments.
Cree gets new Street-high target Jun. 17, 2019 6:58 AM ET|About: Cree, Inc. (CREE)|By: Brandy Betz, SA News Editor JMP Securities raises its Cree (NASDAQ:CREE) PT from $71 to $81 and maintains a Market Outperform rating.
Last week, Cree cut its Q4 outlook due to the U.S. actions against Huawei and softer demand for LED products.
Cree shares closed Friday down 5.8% to $54.58.
Cree has a Neutral Quant rating, SA Authors' rating, and Sell Side rating.
Update with details from the note:
Analyst Joseph Osha praises Cree's expansion of its silicon carbide capacity and says a recent meeting with management left him with "more visibility into the company’s financial model."
Osha sees Cree' semi business growing 30% to 40% annually for several years.
STM expects their SiC sales to grow from $100m last to $200m in 2019.
They are also very bullish on the acceleration of 5G. They are using GaN on Si from Macom for their 5G products so I find their less than overwhelming endorsement of Macom interesting. Macom had some pretty big layoffs at the end of June.
For silicon carbide products, we continue to increase revenues and the number of design-in activities with multiple customers. We now have 33 ongoing programs. This number includes both Automotive and Industrial programs, awarded or in production. We are on track for over $200 million of revenues this year.
Yes. One on your 5G market opportunity. You target more than 50% market share in supply for base stations mid-term. Do you have the design wins already in your hand today? And what kind of market size opportunity are we talking about here, please?
So, Marco will take it.
Yes. Okay. So, I think you have mainly related to the -- our collaboration with MACOM. So, what we can say in this moment is that we acknowledge the change of management at MACOM and we are continuously working with them and develop the market with them. So, we have no further update from this point of view.
Cree and ON Semiconductor Announce Multi-Year Silicon Carbide Wafer Supply Agreement AUGUST 6, 2019 Agreement to boost commercial expansion of SiC in automotive and industrial applications
DURHAM, N.C. – Cree, Inc. (Nasdaq: CREE) and ON Semiconductor Corporation (NASDAQ: ON) announced the execution of a multi-year agreement where Cree will produce and supply its Wolfspeed® silicon carbide wafers to ON Semiconductor, a global semiconductor leader serving customers across the spectrum of electronics applications. The agreement, valued at more than $85 million, provides for the supply of Cree’s advanced 150mm silicon carbide (SiC) bare and epitaxial wafers to ON Semiconductor for use in high-growth markets, such as electric vehicle and industrial applications.
“ON Semiconductor continues to be a leader in driving the development of energy efficient innovations and devices,” said ON Semiconductor Vice President & Chief Procurement Officer Jeffrey Wincel. “Partnering with Cree is essential in maintaining a world-class supply base. This agreement supports our commitment to growing automotive and industrial applications and ensuring the availability of industry-leading silicon carbide that helps engineers solve their unique design challenges.”
“We are committed to leading the global semiconductor market’s transition from silicon to silicon carbide solutions and are pleased to support ON Semiconductor as we work to accelerate this market,” said Cree CEO Gregg Lowe. “This is the fourth major long-term agreement for silicon carbide materials that we have announced in the past year and a half. We will continue to drive silicon carbide adoption and availability through ongoing wafer supply agreements, such as this, and our recently announced major capacity expansion.”
Wolfspeed, A Cree Company, is the global leader in the production of silicon carbide and epitaxial wafers.
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.
What: Cree, Inc.(CREE) Q4 2019 Quarterly Earnings Webcast When: Aug. 20, 2019 at 5:00 p.m. EDT Where: investor.cree.com How: Live over the Internet -- Simply log in at the address above. The recorded webcast will also be available at the address above for replay.