Cree said LED component demand has improved post the Chinese New Year, but that revenue is below previous targets.
Cree already advertises an LED lamp it says reaches 200 lumens per watt under some circumstances.
Witnessing an increase in orders for all its business division, Cree claims that the LED market dynamics are improving.
FORBES: Cree's Earnings: Looking For Signs Of A Sustained Recovery
Cree slumped after the LED lighting company reported fiscal third-quarter results that missed consensus analyst estimates and provided downbeat fourth-quarter outlook.
Last year Cree began selling a dimmable LED version of common recessed ceiling fixtures.
Shares of LED lighting company Cree are trading lower after hours following an in-line fiscal first quarter and disappointing Q2 profit guidance.
Shares of LED lighting company Cree are trading sharply higher this morning following bullish comments on the stock by Morgan Stanley analyst Joshua Paradise.
However, while we continue to see Cree as a differentiated technology player in the LED space, we believe they are subject to the challenges facing LED adoption, notably price declines, new product acceptance, and improving offerings from competitive technology.
The Cree news is taking a toll on the whole LED lighting sector.
Second, I wanted to let you know that on June 13th, next Monday, the President will travel to Durham, North Carolina, to meet with the Jobs and Competitiveness Council at the corporate and U.S. manufacturing headquarters of Cree, a leading manufacturer of energy-efficient LED lighting.
Being one of the leading players, we believe Cree is in a strong position to leverage growth in the LED market.
FORBES: Cree's Earnings: Looking For Signs Of A Sustained Recovery
Cree currently accounts for 10% of the market share for LED, and we see this going up to 13% by the end of our forecast period.
The disappointing forecast is weighing on Cree shares, as well as those of other players in the LED lighting business.
Clearly, Cree is a large part of a hot industry, and its LED lighting products are likely to continue to show robust growth as more households and businesses switch over from more energy intensive incandescent bulbs.
FORBES: Illuminating Thought: Cree Is Not Terribly Expensive
Cree shares are trading lower Monday morning after CLSA Asia-Pacific Markets analyst Mark Heller chopped his rating on the LED lighting to company to Underperform from Outperform.
FORBES: Cree Slumps As Analyst Advises Investors To Sell The Rally
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