Last $48.48 USD
Change Today -0.44 / -0.90%
Volume 586.9K
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As of 11:53 AM 07/11/14 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

4600 Silicon Drive

Durham, NC 27703

United States

Phone: 919-407-5300

Fax: 919-313-5558

Cree, Inc. develops and manufactures semiconductor materials and devices primarily based on silicon carbide (SiC), gallium nitride (GaN) and related compounds. The company’s products are targeted for applications, such as indoor and outdoor lighting, video displays, transportation, electronic signs and signals, power supplies, inverters and wireless systems. The company’s light emitting diode (LED) products consist of LED components, LED chips and SiC materials. Its lighting products consist of both LED and traditional lighting systems. The company designs, manufactures, and sells lighting fixtures and lamps for the commercial, industrial and consumer markets. In addition, the company develops, manufactures, and sells power and radio-frequency (RF) devices. Segments As of June 30, 2013, the company has three reportable segments: LED Products, Lighting Products, and Power and RF Products. LED PRODUCTS The LED Products segment includes LED chips, LED components and SiC materials. LED Chips: The company’s LED chip products include blue and green LED chips based on GaN and related materials. LED chips or die are solid state electronic components used in various applications, and are available in various brightness levels, wavelengths (colors) and sizes. The company uses its LED chips in the manufacturing of its LED components. Some of its customers use its blue and green LED chips in various applications including video screens, gaming displays, function indicator lights and automotive backlights, headlamps, and directional indicators. Other customers combine its blue LED chips with phosphors to create white LEDs, which are used in various applications for indoor and outdoor illumination and backlighting, full-color display screens, liquid crystal display (LCD) backlighting, white keypads and the camera flash function. LED Components: The company’s LED components include a range of packaged LED products, from its XLamp LED components and LED modules for lighting applications to its high brightness LED components. Its XLamp LED components and LED modules are lighting class packaged LED products designed to meet a range of market needs for lighting applications, including general illumination (both indoor and outdoor applications), portable, architectural, signal and transportation lighting. The company also uses its XLamp LED components in its own lighting products. The company’s high brightness LED components consist of surface mount (SMD) and through-hole packaged LED products. The company’s SMD LED component products are available in a range of colors designed to meet a range of market needs, including video, signage, general illumination, transportation, gaming and specialty lighting. SiC Materials: The company’s SiC materials are targeted for customers who use them to manufacture products for RF, power switching, gemstone and other applications. Corporate, government and university customers also buy SiC materials for research and development directed at RF and high power devices. The company sells its SiC materials products in bulk form, as a bare wafer and with SiC or GaN epitaxial films. LIGHTING PRODUCTS The Lighting Products segment consists of both LED and traditional lighting systems. The company’s portfolio of lighting products is designed for use in settings, such as office and retail space, restaurants and hospitality, schools and universities, manufacturing, healthcare, airports, municipal, residential, street lighting and parking structures, among other applications. During 2012, the company expanded into outdoor lighting through its acquisition of Ruud Lighting, Inc. (Ruud Lighting), a company in outdoor LED lighting. Ruud Lighting added an array of outdoor LED lighting products to its existing portfolio, including the BetaLED and LEDway brands. As part of this acquisition, the company also obtained traditional lighting brands, including Ruud Lighting Direct, E-conolight, Kramer Lighting, Beta/Kramer and Beta Lighting. POWER AND RF PRODUCTS The Power and RF Products segment includes power devices and RF devices. Power Devices: The company’s SiC-based power produ

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Industry Analysis

CREE

Industry Average

Valuation CREE Industry Range
Price/Earnings 49.0x
Price/Sales 3.7x
Price/Book 2.0x
Price/Cash Flow 39.2x
TEV/Sales 3.0x
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