Welcome to our dedicated page for CREE news (Ticker: CREE), a resource for investors and traders seeking the latest updates and insights on CREE stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect CREE's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of CREE's position in the market.
Cree, Inc. (Nasdaq: CREE) announced its upcoming presentations at three virtual investor conferences. Neill Reynolds, CFO, will present at the Evercore ISI Inaugural TMT Conference on June 7, 2021, at 3:30 PM ET. On June 8, 2021, Gregg Lowe, CEO, and Neill Reynolds will present at the Bank of America Global Technology Conference at 11:30 AM ET. Lastly, both leaders will present at the Citi Silicon Valley Virtual IT Hardware Bus Tour on June 11, 2021, at 10:00 AM ET. Live webcasts will be accessible on the Investor section of Cree’s website.
About Cree, Inc. Cree is a leading innovator in Wolfspeed® power and RF semiconductors.
Cree, a leader in silicon carbide technology, will have CEO Gregg Lowe and CFO Neill Reynolds present at the J.P. Morgan 49th Annual Global Technology, Media and Communications Conference on May 25, 2021, at 11:45 AM ET. The event will be accessible via a live webcast on Cree's investor website. Cree specializes in Wolfspeed power and RF semiconductors for applications including electric vehicles and telecommunications.
Cree, Inc. reported third-quarter fiscal 2021 revenue of $137.3 million, up 21% year-over-year and 8% sequentially. However, the company faced a GAAP net loss of $66.5 million or $0.59 per diluted share, worsening from a loss of $56.2 million in Q3 FY2020. On a non-GAAP basis, the loss stood at $24.7 million. Cree completed the sale of its former LED segment for up to $300 million, marking a transition to a semiconductor focus. For Q4 FY2021, Cree targets revenue of $142 million to $148 million with a GAAP net loss forecast of $68 million to $73 million.
Cree, Inc. (Nasdaq: CREE) will hold a conference call on April 28, 2021, at 5:00 p.m. Eastern Time to discuss its third quarter fiscal 2021 results and business outlook. Earnings details will be released after market close on the same day. Investors can access the earnings press release on Cree's website and listen to a live audio webcast of the call. For over 30 years, Cree has been a leader in silicon carbide technology, providing solutions for diverse sectors such as electric vehicles, fast charging, and renewable energy.
Cree, a leader in silicon carbide technology through its Wolfspeed business, announced that Cengiz Balkas, Senior Vice President, will present at the 33rd Annual Roth Conference on March 15, 2021, at 3:00 PM ET. A live webcast of this presentation can be accessed via Cree’s investor website. For over 30 years, Cree has driven the transition from silicon to silicon carbide, offering innovative solutions for electric vehicles, 5G, and renewable energy. More information about the company and its products is available on their official website.
Cree, Inc. (Nasdaq: CREE) has finalized the sale of its LED Products unit to SMART Global Holdings, Inc. for up to $300 million. The transaction includes a $50 million cash payment at closing and a $125 million seller note due in 2023, with a potential earn-out of another $125 million based on Cree LED's performance. This move marks a pivotal shift towards becoming a focused semiconductor leader as Cree plans to rebrand as Wolfspeed. Cree aims to enhance its silicon carbide capabilities, particularly for EV and 5G markets.
Cree, Inc. (Nasdaq: CREE) will have its CEO Gregg Lowe and CFO Neill Reynolds present virtually at the Morgan Stanley 2021 Global Technology, Media and Telecom Conference on March 1, 2021, at 9:30 AM ET. A live webcast of the presentation will be accessible on Cree's Investor Relations website. Cree is known for its innovation in Wolfspeed® power and RF semiconductors, as well as lighting-class LEDs, catering to various industries including electric vehicles and telecommunications.
Cree, Inc. (Nasdaq: CREE) has successfully completed an equity offering, selling 4,222,511 shares of its common stock for approximately $500 million in gross proceeds. This offering is part of an at-the-market equity program established under a shelf registration statement filed in February 2021. CEO Gregg Lowe stated that the additional capital will enhance the company's balance sheet and support its Wolfspeed business expansion efforts, focused on silicon carbide technology.
Cree, Inc. announced revenue of $127.0 million for Q2 FY2021, marking a 5% increase year-over-year and a 10% increase from Q1 FY2021. The GAAP net loss was $54.3 million or $0.49 per diluted share, improving from a $57.9 million loss a year ago. Non-GAAP net loss was $26.6 million or $0.24 per diluted share. For Q3 FY2021, Cree targets revenue between $127 million and $133 million with a projected GAAP net loss of $66 million to $71 million. A major transaction to sell the LED Products unit for up to $300 million is also in progress.
Cree, Inc. (Nasdaq: CREE) appointed Marvin A. Riley to its Board of Directors, effective January 25, 2021. Riley, CEO of EnPro, brings extensive experience in global manufacturing and automotive sectors, which Cree aims to leverage for growth in silicon carbide applications. He replaces Anne Whitaker, who has been a board member since 2013. Chairman Darren Jackson expressed optimism about Riley's contributions to Cree's strategic goals, particularly in the transition from silicon to silicon carbide technology.
