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Cree, Inc. Message Board

  • getintoh20 getintoh20 Oct 23, 2013 7:53 AM Flag

    Why pay $60 plus when you can it buy under $25 in the next 3 months?

    Just wait , this stock is heading far south for the winter.
    Needham & Company downgraded Cree (NASDAQ: CREE) from Buy to Hold following a second disappointing quarter.

    Analyst Y. Edwin Mok weighs in: "Cree's F1Q14 report confirmed that lighting rebound from last quarter's miss and bulb sales are progressing well. However, guidance below consensus with lower margins pressured the stock in after-hour trading. While Cree seems to be executing its grand vision in LED lighting, we now believe gross margins will not see much upside from current levels, and we are discouraged by the limited topline growth of LED components despite a more stable pricing environment. Cree looks well positioned to leverage LED lighting adoption, but with less earnings growth in our model, we find it hard to justify the high valuation."

    The firm cut FY 2014 EPS from $1.79 to $1.60 and FY 2015 EPS from $2.54 to $2.15.
    No growth earnings decreasing, $2.15 x pe of 10= $21.00 at best

24.97-0.07(-0.28%)Sep 23 4:00 PMEDT