Possible upside targets $48 & $55
Stochastic and RSI in reversal
Recent upgrade
Morgan Stanley analyst Craig Hettenbach initiated coverage of Cree with an Overweight rating and $62 price target. Cree is "a key enabler" for the inflection coming in electric vehicles given its leadership in Silicon Carbide, or SiC, Hettenbach tells investors.
Short interest 8%
Company profile
Cree, Inc. is a manufacturer of lighting-class light emitting diode (LED) products, lighting products and semiconductor products for power and radio-frequency (RF) applications. It operates through the following segments: Wolfspeed, LED Products, and Lighting Products. The Wolfspeed segment products consists of silicon carbide (SiC) and gallium nitride (GaN) materials, power devices and RF devices based on silicon (Si) and wide bandgap semiconductor materials. The LED Products segment includes LED chips, LED components and SiC materials. The Lighting Products segment consists of LED lighting systems and bulbs for the commercial, industrial and consumer markets. The Power and RF Products segment includes power devices and RF devices. The company was founded by Calvin H. Carter Jr., John W. Palmour, F. Neal Hunter, Eric Hunter, and John Edmond in 1987 and is headquartered in Durham, NC.
Stochastic and RSI in reversal
Recent upgrade
Morgan Stanley analyst Craig Hettenbach initiated coverage of Cree with an Overweight rating and $62 price target. Cree is "a key enabler" for the inflection coming in electric vehicles given its leadership in Silicon Carbide, or SiC, Hettenbach tells investors.
Short interest 8%
Company profile
Cree, Inc. is a manufacturer of lighting-class light emitting diode (LED) products, lighting products and semiconductor products for power and radio-frequency (RF) applications. It operates through the following segments: Wolfspeed, LED Products, and Lighting Products. The Wolfspeed segment products consists of silicon carbide (SiC) and gallium nitride (GaN) materials, power devices and RF devices based on silicon (Si) and wide bandgap semiconductor materials. The LED Products segment includes LED chips, LED components and SiC materials. The Lighting Products segment consists of LED lighting systems and bulbs for the commercial, industrial and consumer markets. The Power and RF Products segment includes power devices and RF devices. The company was founded by Calvin H. Carter Jr., John W. Palmour, F. Neal Hunter, Eric Hunter, and John Edmond in 1987 and is headquartered in Durham, NC.