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 Stocks : Cree Inc. -- Ignore unavailable to you. Want to Upgrade?


To: slacker711 who wrote (10434)8/31/2021 7:13:37 AM
From: slacker7111 Recommendation

Recommended By
OldAIMGuy

  Read Replies (1) | Respond to of 10478
 
Cree Q4 2021 Earnings

Revs of $146m

Power saw strong growth constrained by COVID shutdown in Malaysia

Power device revs up 46% YoY

RF rev increased

Materials saw “better order flow”

Fiscal ‘21 rev of $526m, 12% up Yoy

Fiscal rev growth driven by growth in device business while materials were down

$475m in capex net of reimbursements

Guidance of $144 to $154m

GM of 31.5% to 33.5% Modest improvements in Durham offset by Malaysia

$80m in startup costs at MVF $60m in cash costs

Slightly more than $1 billion in design-ins

Materials expansion to 2nd building

$800m agreement with STM runs into the 2nd half of the decade (2026?)

LTA for 150mm total $1.3 billion


Q&A

$1 billion design ins with ? automotive. Doesnt include materials

Automotive customers ramping right now and ramping in ‘23

Malaysia cost 1 point of GM in this and next quarter



Durham to MVF

- Wafer cost 50% lower (doesnt include all benefits of 150 to 200mm transition)

- Cycle times will be >50% greater

- Yields will be higher than 20 to 30% higher than Durham

- Devices will grow faster than materials through ‘24 and even faster after that as the $1 billion in designs ins this quarter ramp.

- $5-$7 million impact from Malaysia, $3-$5m last quarter

- inflection point used to be ‘23/’24, now in FY‘22

- Need to drive more capacity out of Durham to serve demand.

- Pulling in about $100m in capex from ‘23/’24

- Put in 100 tools into Durham