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Cree: Q1 Earnings Insights

Benzinga Insights
·1 min read

Shares of Cree (NASDAQ:CREE) decreased 2.62% in after-market trading after the company reported Q1 results.

Quarterly Results

Earnings per share were down 533.33% over the past year to ($0.19), which beat the estimate of ($0.21).

Revenue of $216,600,000 decreased by 10.79% from the same period last year, which beat the estimate of $209,880,000.

Looking Ahead

Cree Sees Q2 EPS $(0.27)-$(0.23) Vs. $(0.18) Est.

Conference Call Details

Date: Oct 28, 2020

Time: 05:00 PM

View more earnings on CREE

ET Webcast URL: https://edge.media-server.com/mmc/p/cqa9zsxn

Recent Stock Performance

Company's 52-week high was at $77.19

52-week low: $27.77

Price action over last quarter: Up 4.60%

Company Overview

Cree Inc is a United States-based company which is involved in the manufacturing of wide bandgap semiconductor products for power and radio-frequency (RF) applications, lighting-class light-emitting diode (LED) products, and lighting products. It operates in two reportable segments: Wolfspeed and LED products. The Wolfspeed segment's products consist of silicon carbide and gallium nitride materials, power devices and RF devices based on silicon and wide bandgap semiconductor materials. The LED products segment, which is the key revenue driver, consist of LED chips and LED components. Geographically, the company conducts business in the United States, China, Europe, and other areas.

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