NEW YORK (TheStreet) -- Shares of Cree were gaining 8.3% to $5.03 after-hours Tuesday after the LED maker beat analysts' estimates for earnings and revenue in the fiscal second quarter. Cree reported earnings of 33 cents a share for the second quarter, beating analysts' estimates of 11 cents a share. Revenue fell 0.5% year over year to $413.15 million, but still beat analysts' estimates of $412.12 million. "We made solid progress in Q2 with operating margin higher than targeted due to an improvement in gross margins in our lighting business," CEO Chuck Swobod said in a statement. "The market for LED lighting is still in the early stages, our new product pipeline is strong, sales momentum is building and our brand is growing in the market." Exclusive Report: Jim Cramer's Best Stocks for 2015 STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more. TheStreet Ratings team rates CREE INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation: "We rate CREE INC (CREE) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, unimpressive growth in net income and weak operating cash flow." You can view the full analysis from the report here: CREE Ratings Report CREE data by YCharts STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.
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