Benzinga | Aug 17, 2021 04:38PM EDT

Recap: Cree Q4 Earnings

Shares of Cree (NASDAQ:CREE) fell 5.7% in after-market trading after the company reported Q4 results.

Quarterly Results

Earnings per share fell 27.78% year over year to ($0.23), which beat the estimate of ($0.24).

Revenue of $145,800,000 declined by 29.12% year over year, which beat the estimate of $145,170,000.

Looking Ahead

Q1 EPS expected to be between ($0.25) and ($0.21).

Q1 revenue expected to be between $144,000,000 and $154,000,000.

Details Of The Call

Date: Aug 17, 2021

Time: 05:00 PM

ET Webcast URL: https://edge.media-server.com/mmc/p/oqdhenz7

Recent Stock Performance

52-week high: $129.90

Company's 52-week low was at $56.39

Price action over last quarter: down 16.27%

Company Description

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.