10-22-2018: Cree, Inc. (CREE): Trying Product Line Diversification and Innovation to Stay Competitive

(WAIT FOR PAGE TO LOAD COMPLETELY BEFORE LINKS WORK.)

Corporate Webpages
Company Profile
Company History
News
Comparison with Peers
Bond Issue
Zenith Index
Financial Statements
Avg. P/E to Current P/E
Financial Ratios
Intrinsic Value (Disc. CashFlow)
Fair Value Estimator
Projected Earnings
Research Reports
Analysts' Opinions
Insider Activity
Institutional Activity
Sentiment
Short Interest
Standard & Poor's
Management's Discussion
Channel Potential
MACD Histogram
Intraday Chart
Val Idea
Stock Consultant
Point & Figure Chart
Wall Street Analyzer
Marketspace Chart
Time Series Forecast
Neural Network Prediction
Stock Options
Ultimate Trading Systems
Recommendation

Cree, Inc.

Cree, Inc. (CREE) is a hi-tech company based in the Research Triangle area of North Carolina. It has an excellent website describing its various products and exhibits shareholder concern. It has three reportable segments, one of which includes power inverters used for charging electric cars, solar panels, and radio frequency applications. This is apparently the "white hope" of this corporation if its placement and description on its website is any indication as being the biggest potential revenue generator. It was marketing products under the name "Wolfspeed Power and RF Division." Probably most investors are looking at that part of the operation as the key to future potential earnings. The same segment apparently also includes providing silicon carbide and gallium nitride semiconductor materials used in radio frequency applications. Segment #2 includes light emitting diode semiconductor chips used in various applications such as video screens, and actual LED products, namely light bulbs. The last segment includes actual light fixture products used in a variety of indoor and outdoor applications including street lighting and hi-bay commercial/industrial lighting fixtures.

The thing which jumped out at us most were a couple of news items from the past which we found hard to understand. In July, 2016, the comany announced an agreement to sell what it considered its highest-potential product "Wolfspeed Power" products to Infineon, a German corporation, for $850 million in cash. Now this is what makes this stock a "story stock" in our opinion because from 2014 on, for four straight years, the company had losses and was obviously in trouble. A lot of these losses were apparently coming from its commercial light fixture division because we note in recent company reports under new management the management proposes a "fix" for that division. Apparently, the U.S. Government's "Committee on Foreign Investment" rejected the sale proposal on "security concerns" as some of Wolfspeed's products are used in national defense. Where the story gets weird is that Cree then turned around and did the opposite, purchasing Infineon's RF power business for $345 million Euros. So, what it wanted to sell became its most profit-potential division, apparently after a major change in management in 2017.

Looking at the history of this company, as one which did a lot of innovative research into LED products, and then acquiring a light fixture manufacturer (Rudd), which apparently was troubled, it changed its focus several times to try to find an area in which it could compete against considerable foreign competition. We think that lack of focus has been damaging to the company but also understandable under the arena in which it was competing.

As to where it will go next, analysts are turning positive on a turnaround potential with stronger projected earnings for next year by a considerable number of analysts, but overwhelmingly negative reviews from researchers based upon previous performance. The company stock has been all over the map recently with high volatility. This happens to be the review written at a time when two of our most important research organization reviewers were snatched away from us, both Market Grader and Market Edge (expanded version) because they are no longer free, and we try to restrict ourselves to free sites believing these have the greatest influence on the greatest number of investors. Their opinions may not always be accurate in predicting the future, but the fact that free sites have more readers and more followers gives them a higher potential to have "self-fulfilling prophecies."

Institutions are net sellers, but Dimensional Fund Advisors (DFA) is among major shareholders, both good in the sense that DFA is among them but bad in the sense that DFA is unloading considerable shares recently.

GMI Analyst is neutral to negative on the corporation's accounting methods. We note that around the time of the Infineon acquisition stories, class action lawsuit attorneys were lining up at the door. This usually implies suspicion of misleading management statements but occurred before some management changes happened subsequently.

Standard & Poor's is neutral to negative on the stock thus far.

While this review and subsequent ones have been "dented" by our loss of a key source affecting things like analyst assessments and projected earnings data, we think our Decision Matrix narrowly placed this stock in the "Sell" candidate category suggesting it might make a good short sale. Certain recently momentum and sentiment favors a further downmove, but caution is needed because it could be a potential strong turnaround situation. There are some gaps in stock share pricing recently, quantum jumps, and a recently price range suggesting a very wide swing.

Finally, while it may be quite unfair to say this, we have noted that companies in North Carolina have tended not to do well, in an area hit by the cigarette and tobacco use reduction assault, competition from foreign furniture makes and clothing manufacturers who use foreign cotton or no cotton, wiping out the three key major industries. Why this would have anything to do with hi-tech products is questionable, except that again we see management stating it has manufacturing facilities in Italy, India, and China, as well as four other U.S. states beside N. Carolina. Current tariff regulations are certainly not helping it there as the current administration seeks to bring jobs back to the U.S. It helps U.S. tech companies in one way, but not when they and invest use overseas manufacturing to stay competitive. There are a huge number of "risk factors" described in the Management's Discussion section of this review by the corporation itself to which investors should pay careful attention.



[Home]
Corporate Wepages

Trade Mark
01
2
3
4
5
6
7
8
9
10
11

12
13
14
15
16
17
18
19
20
21
22
23
24



[Home]
Company Profile

Profile



[Home]
Company History
6 7 8 9 10


[Home]
News

Click Here for News Archives



[Home]
Comparison

Comparison

Groups 1
Groups 2
Groups 3


Companies 1
Companies 2
Companies 2
Companies 2

Similar Companies Performance:

55 56
57 58
59 60


[Home]
Bond Issue

The sale of this particular bond issue is governed by SEC rules regarding the private sales of securities to institutions.

22 23



[Home]
Zenith Index

Under current market conditions, a Zenith Index Score of 1.20 or above is required for a positive rating on this factor. 1.21 -1.30 is considered acceptable, 1.30-1.40 is considered strong and
> 1.40 is considered exceptionally strong. Accounting statements in this section often contain mistakes, especially in earlier years' totals, but data is deemed sufficient for us to give a rating. More accurate financial statements follow in the next section.

Cree, Inc. (CREE)                                         Exchange: Nasdaq
4600 Silicon Drive
Durham, NC 27703                 Sector: Technology
United States                    Industry: Semiconductors

Cree, Inc. provides lighting-class light emitting diode (LED), lighting,
and semiconductor products for power and radio-frequency (RF)
applications in the United States, China, Europe, South Korea, Japan,
Malaysia, Taiwan, and internationally. It operates in three segments:
Wolfspeed, LED Products, and Lighting Products. The Wolfspeed segment
offers silicon carbide (SiC) materials for RF, power switching,
gemstones, and other applications. It also provides SiC power device
products, including SiC Schottky diodes, metal oxide semiconductor field
effect transistors (MOSFETs), power modules, and gate driver boards for
electric vehicles, including charging infrastructure, server power
supplies, solar inverters, uninterruptible power supplies, industrial
power supplies, and other applications. In addition, this segment offers
gallium nitride (GaN) die, high-electron mobility transistors (HEMTs),
monolithic microwave integrated circuits (MMICs), and laterally diffused
MOSFET (LDMOS) power transistors for telecommunications infrastructure,
military, and other commercial applications; and custom die
manufacturing services for GaN HEMTs and MMICs. The LED Products segment
provides blue and green LED chip products for video screens, gaming
displays, function indicator lights and automotive backlights,
headlamps, and directional indicators. It also offers XLamp LED
components and LED modules for lighting applications; and surface mount
and through-hole packaged LED products for video, signage, general
illumination, transportation, gaming, and specialty lighting
applications. The Lighting Products segment offers LED lighting systems
and lamps for to distributors, retailers, and customers for offices,
retail spaces, restaurants, hospitality, schools, universities,
manufacturing, healthcare, airports, municipal, residential, street
lighting, parking structures, and other applications. The company was
founded in 1987 and is headquartered in Durham, North Carolina.

Last Trade:  39.46                           52-Week Range:  51.78 -  30.78
Employees: 6,796                             Avg.Volume:   1,622,456 Shares

Corporate Governance:
P pillar scores are Audit: 1; Board: 3; Shareholder Rights: 3;
         (A lower number means less governance risk.)

EPS: -2.81    Dividend Amount: $ 0.00          Yield:  0.00%
             Ex-Dividend Date: N/A             Payout Ratio:   0.00

Key Statistics:

    Trailing P/E:   0.00              Forward P/E (est.):  30.72
                                           Target Price:  45.60

Qrtly Stock Price Growth (yoy):  15.52%               Beta:   0.00
Qrtly S&P Index   Growth (yoy):  14.10%        Short Ratio:   7.54%
    Qrtly Revenue Growth (yoy):   9.68%         Shares Out:  100860000
   Qrtly Earnings Growth (yoy):   0.00%

          Book Value:  20.47                    Debt/Equity:  14.09%
    Price/Book Value:   1.85        Operating Profit Margin:  -4.00%
         Price/Sales:   2.55                  Profit Margin: -18.74%
         Market Cap:   3,811,000,000       Return on Equity: -13.03%
    Enterprise Value:   3,450,000,000      Return on Assets:  -1.41%

    Operating Cash Flow:    167,360,000
         Free Cash Flow:    -13,070,000



Annual Income Statement:                          (All numbers in thousands)
  Period Ending                             06/24/2018   6/25/2017   6/26/2016

  Total Revenue                              1,493,680   1,473,000   1,616,627
  Cost of Revenue                            1,080,613   1,038,428   1,129,553
  Gross Profit                                 413,067     434,572     487,074

Operating Expenses:
  Research & Development                       164,321     158,549     168,848
  Selling, General & Administrative            277,754     277,175     279,709
  Non-Recurring Expenses                             0           0           0
  Other Operating Expenses                           0           0           0
  Total Operating Expenses                   1,553,460   1,501,651   1,606,842

Operating Income or Loss                       -59,780     -28,651       9,785

Income from Continuing Operations:
  Total Other Income/Expenses Net             -257,665      23,987     -33,291
  Earnings Before Interest & Taxes             -59,780                -28,651  E
arnings Before Interest & Taxes               9,785
  Interest Expense                                   0           0           0
  Income Before Taxes                         -317,445      -4,664     -23,506
  Income Tax Expense                           -37,522      93,454      -1,970
  Minority Interest                              4,945       4,945       4,945

Net Income from Continuing Op.s               -279,923     -98,118     -21,536

Non-recurring Events:
  Discontinued Operations                            0           0           0
  Extraordinary Items                                0           0           0
  Effect of Accounting Changes                       0           0           0
  Other Items                                        0           0           0
  Net Income                                  -279,968     -98,118     -21,536
  Preferred Stock & Other Adjustments                0           0           0

Net Income Avail to Common Shares             -279,968     -98,118     -21,536



Annual Cash Flow Statement:                   (All numbers in thousands)
  Period Ending                         06/24/2018     6/25/2017     6/26/2016

  Net Income                              -279,923       -98,118       -21,536

Operating Activities:
  Depreciation                             132,251       129,648       138,824
  Adjustments to Net Income                258,473       120,406        82,518
  Changes in Accounts Recv'bls              -4,764        16,955        21,800
  Changes in Liabilities                    14,296        -4,818       -12,090
  Changes in Investories                    10,998        17,918       -23,269
  Changes in other Oper'g Acts              14,386        13,049        -3,252

Total Cash Flow f Operations               167,358       215,900       203,316

Investing Activities:
  Capital Exenditures                     -185,688       -86,928      -120,018
  Investments                              200,464       -47,309       133,775
  Other Cash Flows fr Investing                  0             0             0

Total Cash Flows from Investing           -423,887      -145,250        -7,903

Financing Activities:
  Dividends Paid                                 0             0             0
  Sale of Purchase of Stock                      0             0             0
  Net Borrowings                           147,000       -15,000       -40,000
  Other Cash Flows fr Financing              3,050        -2,777             0

Total Cash Flows from Financing            242,671      -104,078             0

  Effect of Exchange Rate Chg                    0             0             0

Change in Cash & Cash Equiv.                  -129        -1,110             0



Annual Balance Sheets:                              (All Numbers in Thousands)
  Period Ending                          06/24/2018     6/25/2017     6/26/2016
Current Assets:
  Cash & Cash Equivalents                   118,924       132,597       166,154
  Short Term Investments                    268,161       478,341       439,151
  Net Receivables                           156,309       156,432       171,915
  Inventory                                 296,015       284,385       303,542
  Other Current Assets                       22,371        25,570        49,135
  Total Current Assets                    1,398,102       598,984       690,746

  Long-Term Investments                      57,501        50,366        40,179
  Property, Plant & Equipt                  661,319       581,263       599,723
  Goodwill                                  620,330       618,828       618,828
  Intangible Assets                         390,054       274,315       302,810
  Accumulated Amortization                        0             0             0
  Other Assets                               18,251        24,465        47,813
  Deferred LT Asset Charges                   6,451        11,763        38,564

Total Assets                              2,637,545     2,649,867     2,766,060

Current Liabilities:
  Accounts Payable                          151,307       133,185       132,286
  Current Portion LT Debt                   292,000       145,000       160,000
  Other Current Liabilities                  23,805        24,779        32,927
  Total Current Liabilities                 467,112       302,964        325,213

  Long Term Debt                            151,307       133,185       132,286
  Other Liabilities                         292,000       145,000       160,000
  Deferred LT Liab. Charges                  23,805        24,779        32,927
  Minority Interest                           4,945         4,945         4,945
  Negative Goodwill                           4,945             0             0

Total Liabilities                           789,228       518,003       500,450

Stockholder Equity:
  Misc. Options, Warrants                         0             0             0
  Redeemable Preferred Stock                      0             0             0
  Preferred Stock                                 0             0             0
  Common Stock                                  127           121           125
  Retained Earnings                        -482,710      -202,742          -613
  Treasury Stock                                596         5,909         8,728
  Capital Surplus                         2,549,123     2,419,517     2,359,584
  Other Stockhohlder Equity                     596         5,909         8,728
  Total Stockholder Equity                2,067,136     2,222,805     2,367,824

Net Tangible Assets                       1,056,752     1,329,662     1,446,186


Cree, Inc. (CREE)                           [Indices near +3.0, near zero,
                                            or < zero bear special attention.]
P/E Ratio Tests:
P/E Ratio < 28?            0.0000          P/E Ratio > 5?             0.0000
P/E Ratio Vs Growth Rate:  0.0000          Forward P/E Ratio < 28?    0.9115
Price/Sales Ratio < 2.3?   0.9020          Inventory/Sales < 5%?      0.2523
Sales < $1 Billion?        0.6695          Operating Margin < 7.5%?  -1.8750

Balance Sheet Tests:
Debt/Equity < 0.40?        2.8389          Long-Term Debt Service:    3.0000
LTD Being Reduced?        -3.0000          Short-Term Debt Service:   3.0000
Current Ratio > 2?         1.4965          Working Capital >= 1.5?    0.5078
Leverage Ratio < 20%?      0.9576          Debt/Assets < 1?           3.0000
Quick Ratio > 1?           3.0000          Inventory Turnover > 1?    0.1906
Share Equity Increase:     1.8687          Market Cap.< 1.5 Billion?  0.3936
                                           Intangibles < 3% Assets?   0.0783
Income Tests:
Profit Margin < 7.5%?     -2.4986          EPS Annual Growth > 10%?   0.0350
Dividend Yield > 2.0%?     0.0000          EPS 3-yr Growth > 15?      0.0115
Enterprise Value/Revenue   2.5515          EPS Growth Consistent?    -2.0000
Enterprise Value/EBITDA:  -3.0000          Collection < 45 days?      1.1781
EPS Qrtly Growth > 10%?    0.0000          Gross Pft/Cur. LTD > 1?    1.4146
                                           Borrowing Int. Rate < 6%?  3.0000
Stock Performance Tests:
Volatility > 25%?          1.6222          % Held by Insiders < 5%?   3.0000
Beta > 1.25?               0.0000          % Held by Institut. < 50?  0.4691
50 Da MA > 200 Da MA?     -0.2775          % Held by Institut. > 30?  3.0000
52-Wk Change vs. S&P 500:  1.6033          Short Ratio > 5?           1.5080
Price/Book Value < 3?      1.5563          Short % of Float > 20?     0.8265
Return on Assets > 17%?   -0.0829          Average Volume > 100,000?  3.0000

Cash Flow Tests:
Oper. C.F. > Lever'd C.F: -3.0000          Positive Free Cash Flow?  -1.0000
Positive Oper. Cash Flow?  3.0000          Price to C.F.Ratio < 14?:  3.0000
                                           Cash Flow / Assets > 10%?  3.0000

CREE   Cree, Inc.                          Overall Zenith Index:      0.8188


[Home]
Financial Statements

CREE INC  (CREE)                            INCOME STATEMENT

Fiscal year ends in June.                            2014-06         2015-06         2016-06         2017-06         2018-06             TTM           

Revenue                                        1,647,640,960   1,632,504,960   1,616,626,944   1,472,999,936   1,493,680,000   1,541,549,056
Cost of revenue                                1,028,846,016   1,157,549,056   1,129,553,024   1,038,428,032   1,086,038,016   1,106,071,040
Gross profit                                     618,795,008     474,956,000     487,073,984     434,572,000     407,641,984     435,478,016


Operating expenses
Research and development                         181,382,000     182,796,992     168,848,000     158,548,992     164,320,992     168,427,008
Sales, General and administrative                268,460,000     290,729,984     283,052,000     277,175,008     283,488,992     293,215,008
Other operating expenses                          31,988,000      26,220,000      28,732,000      27,499,000      30,772,000      32,475,000
Total operating expenses                         481,830,016     499,747,008     480,632,000     463,223,008     478,582,016     494,116,992

Operating income                                 136,964,992     -24,791,000       6,442,000     -28,651,000     -70,940,000     -58,639,000
Other income (expense)                            10,605,000     -58,111,000     -29,948,000      23,987,000    -246,504,992    -252,610,000
Income before taxes                              147,570,000     -82,902,000     -23,506,000      -4,664,000    -317,444,992    -311,248,992
Provision for income taxes                        23,379,000     -18,851,000      -1,970,000      93,454,000     -37,522,000     -40,065,000
Net income from continuing operations            124,191,000     -64,051,000     -21,536,000     -98,118,000    -279,923,008    -271,184,000
Other                                                      0               0               0               0         -45,000           6,000
Net income                                       124,191,000     -64,051,000     -21,536,000     -98,118,000    -279,968,000    -271,177,984
Net income available to common shareholders      124,191,000     -64,051,000     -21,536,000     -98,118,000    -279,968,000    -271,177,984

Earnings per share
Basic                                                   1.03           -0.57           -0.21           -1.00           -2.81           -2.72 
Diluted                                                 1.01           -0.57           -0.21           -1.00           -2.81           -2.72 

Weighted average shares outstanding
Basic                                            120,623,000     113,022,000     101,783,000      98,487,000      99,530,000     100,548,248
Diluted                                          122,914,000     113,022,000     101,783,000      98,487,000      99,530,000     100,548,248

____________________________________________________________________________________________________________________________________________


CREE INC  (CREE)                            BALANCE SHEET

Fiscal year ends in June.                            2014-06         2015-06         2016-06         2017-06         2018-06             

Assets

Current assets

Cash

Short-term investments                           875,641,984     573,481,024     439,151,008     478,340,992     268,160,992
Total cash                                     1,162,466,048     713,190,976     605,305,024     610,937,984     387,084,992

Receivables                                      255,374,000     246,968,992     217,691,008     205,516,000     215,076,992
Inventories                                      284,780,000     280,576,000     303,542,016     284,384,992     296,015,008
Deferred income taxes                             29,414,000      39,190,000               0               0               0
Prepaid expenses                                  72,071,000      29,932,000      26,810,000      23,305,000      28,310,000
Other current assets                             -30,214,000      -1,608,000       3,359,000     -23,514,000     -36,397,000
Total current assets                           1,773,890,944   1,308,249,984   1,156,706,944   1,100,630,016     890,089,984

Non-current assets

Property, plant and equipment
Gross property, plant and equipment            1,570,439,936   1,674,952,960   1,738,950,016   1,826,227,968   1,959,532,032
Accumulated Depreciation                        -964,726,976  -1,039,881,024  -1,139,227,008  -1,244,964,992  -1,298,212,992
Net property, plant and equipment                605,713,024     635,072,000     599,723,008     581,262,976     661,318,976

Equity and other investments                               0      57,595,000      40,179,000      50,366,000      57,501,000
Goodwill                                         616,345,024     616,345,024     618,828,032     618,828,032     620,329,984
Intangible assets                                336,423,008     317,153,984     302,809,984     274,315,008     390,054,016
Deferred income taxes                                      0               0      38,564,000      11,763,000       6,451,000
Other long-term assets                            11,997,000      19,984,000       9,249,000      12,702,000      11,800,000
Total non-current assets                       1,570,477,952   1,646,150,016   1,609,352,960   1,549,236,992   1,747,454,976

Total assets                                   3,344,368,896   2,954,400,000   2,766,060,032   2,649,867,008   2,637,544,960 

Liabilities and stockholders' equity

Liabilities

Current liabilities
Accounts payable                                 202,294,000     163,128,000     132,286,000     133,185,000     151,307,008
Taxes payable                                     34,683,000      15,970,000      12,720,000      11,148,000       8,053,000
Accrued liabilities                               69,678,000      75,688,000      77,993,000      67,690,000      88,933,000
Total current liabilities                        306,655,008     254,786,000     222,999,008     212,023,008     248,292,992

Non-current liabilities
Long-term debt                                             0     200,000,000     160,000,000     145,000,000     292,000,000
Deferred taxes liabilities                        12,173,000      12,174,000         943,000      49,860,000       3,056,000
Minority interest                                          0               0               0               0       4,945,000
Other long-term liabilities                       35,395,000      21,084,000      14,294,000      20,179,000      22,115,000
Total non-current liabilities                     47,568,000     233,258,000     175,236,992     215,039,008     322,116,000

Total liabilities                                354,223,008     488,044,000     398,236,000     427,062,016     570,409,024 

Stockholders' equity

Common stock                                         149,000         131,000         125,000         121,000         127,000
Additional paid-in capital                     2,190,010,880   2,285,553,920   2,359,584,000   2,419,516,928   2,549,123,072
Retained earnings                                788,580,992     174,872,992        -613,000    -202,742,000    -482,710,016
Accumulated other comprehensive income            11,405,000       5,798,000       8,728,000       5,909,000         596,000
Total stockholders' equity                     2,990,146,048   2,466,355,968   2,367,823,872   2,222,804,992   2,067,136,000
Total liabilities and stockholders' equity     3,344,368,896   2,954,400,000   2,766,060,032   2,649,867,008   2,637,544,960

____________________________________________________________________________________________________________________________________________


CREE INC  (CREE)                            Statement of CASH FLOW

Fiscal year ends in June. USD.                       2014-06         2015-06         2016-06         2017-06         2018-06             TTM           

Cash Flows From Operating Activities
Net income                                       124,191,000     -64,051,000     -21,536,000     -98,118,000    -279,923,008    -271,184,000
Depreciation & amortization                      162,971,008     172,286,000     159,144,992     150,508,000     153,936,992     156,348,992
Amortization of debt discount/premium and is      10,158,000       6,152,000       5,314,000       5,427,000       4,809,000       4,286,000
Investment/asset impairment charges                3,200,000         254,000               0               0     247,455,008               0
Deferred income taxes                                      0     -20,950,000     -15,839,000      74,918,000     -40,038,000     -43,173,000
Stock based compensation                          61,686,000      64,299,000      58,728,000      47,725,000      43,203,000      45,121,000
Change in working capital                        -26,353,000     -46,034,000     -16,811,000      43,104,000      34,916,000       1,725,000
Accounts receivable                              -32,651,000      37,853,000      21,800,000      16,955,000      -4,764,000     -52,327,000
Inventory                                        -87,012,000       3,528,000     -23,269,000      17,918,000      10,998,000      -6,106,000
Prepaid expenses                                  10,635,000     -11,112,000       8,103,000      17,438,000      -5,358,000     -14,585,000
Accounts payable                                  66,297,000     -44,796,000     -12,090,000      -4,818,000      14,296,000       4,151,000
Accrued liabilities                               16,378,000     -31,507,000     -11,355,000      -4,389,000      19,744,000      70,592,000
Other non-cash items                             -16,545,000      69,298,000      34,315,000      -7,664,000       2,999,000     254,103,008
Net cash provided by operating activities        319,308,000     181,254,000     203,316,000     215,900,000     167,358,000     147,227,008

Cash Flows From Investing Activities
Investments in property, plant, and equipmen    -178,556,992    -206,160,000    -120,018,000     -86,928,000    -185,688,000    -185,827,008
Property, plant, and equipment reductions            117,000         285,000       5,296,000       1,392,000         614,000         517,000
Acquisitions, net                                          0               0     -12,513,000               0    -429,161,984               0
Purchases of investments                        -625,820,032    -430,368,000    -220,823,008    -200,404,992    -200,688,000    -228,924,000
Sales/Maturities of investments                  582,177,984     639,596,992     354,598,016     153,096,000     401,152,000     362,340,000
Purchases of intangibles                         -20,183,000     -19,491,000     -14,443,000     -12,405,000     -10,115,000     -10,792,000
Other investing activities                                 0               0               0               0               0    -429,161,984
Net cash used for investing activities          -242,264,992     -16,137,000      -7,903,000    -145,250,000    -423,887,008    -491,848,000

Cash Flows From Financing Activities
Debt issued                                                0     695,000,000     653,000,000     468,000,000     670,000,000   1,244,999,936
Debt repayment                                             0    -495,000,000    -693,000,000    -483,000,000    -523,000,000    -811,000,000
Common stock issued                              100,006,000      36,929,000      21,682,000      17,716,000      97,521,000     107,993,000
Common stock repurchased                         -99,699,000    -549,676,992    -149,552,992    -104,017,000               0               0
Excess tax benefit from stock based compe         19,235,000       1,395,000          12,000          -2,000               0               0
Other financing activities                                 0               0               0      -2,775,000      -1,850,000     -12,938,000
Net cash provided by (used for) financing         19,542,000    -311,352,992    -167,859,008    -104,078,000     242,671,008     529,055,008
Effect of exchange rate changes                      170,000        -878,000      -1,110,000        -129,000         185,000        -175,000
Net change in cash                                96,755,000    -147,114,000      26,444,000     -33,557,000     -13,673,000     184,259,008
Cash at beginning of period                      190,068,992     286,824,000     139,710,000     166,154,000     132,597,000     152,058,000
Cash at end of period                            286,824,000     139,710,000     166,154,000     132,597,000     118,924,000     336,316,992

Free Cash Flow
Operating cash flow                              319,308,000     181,254,000     203,316,000     215,900,000     167,358,000     147,227,008
Capital expenditure                             -198,740,000    -225,651,008    -134,460,992     -99,333,000    -195,803,008    -196,619,008
Free cash flow                                   120,568,000     -44,397,000      68,855,000     116,567,000     -28,445,000     -49,392,000
____________________________________________________________________________________________________________________________________________





[Home]
Average to Current P/E Ratios
              (CREE)     Cree Inc.

                               2013    2014    2015    2016    2017

          Annual Earnings:     1.01   -0.57   -0.21   -1.00   -2.81
Average Price During Year:    56.02   49.02   29.64   26.41   26.63

                P/E Ratio:    55.46   86.00  141.16   26.41    9.48

 Average 5-Year P/E Ratio  =  63.70
             Current Price =  38.81

Previous 5 Quarter Earnings:  -0.06   -0.20    0.14   -2.40   -0.33

           Current Annualized (Last Four Quarters) Earnings =  -2.59
                                                           ________
                                 Average PE / Current PE =    -4.25
                                                           --------

                                      ...a number above 1.00 is good
                                                1.00 or below is bad


[Home]
Financial Ratios

. . . . . . . . . . . . Lowest to Highest, Compared to Industry



[Home]
Intrinsic Value (DCF)

Intrinsic Value by Discounted Cash Flow Method:

Intrinsic Value



[Home]
Fair Value Estimator

Fair Value Estimate:

Fair ValueFair Value



[Home]
Projected Earnings

Earnings Estimates



[Home]
Research Reports

Click Here for Research Reports



[Home]
Analysts' Opinions

Analysts' Opinion 1
Analysts' Opinion 1
Analysts' Opinion 1
Analysts' Opinion 1
Analysts' Opinion 2



[Home]
Insider Activity

Insiders Chart Insider Trades
Insider Trades
Executive Compensation Executive Compensation



[Home]
Institutional Activity

Institutional Orders to Buy or Sell:

institutions 1
Ownership:

institutions 2


[Home]
Sentiment

sentiment

Zenith uses the "sentiment" score above or below 50 to award a positive or negative point in the Decision Matrix.

sentiment sentiment sentiment



[Home]
Short Interest Ratio

As the short interest rises as a percentage of average daily share volume (Days to Cover), this is considered a measure of negative sentiment. Similarly, a decrease in that percentage is considered positive sentiment.

short interest short interest


[Home]
Standard & Poor's

S&P Stock Report (Requires Adobe Acrobat Reader)



[Home]
Management's Discussion of Results of Operations Excerpts

Click Here for Management's Discussion Excerpts



[Home]
Channeling Potential

 
The summary below includes a value for `Degree,' which refers on a
scale of 1 to 10 the range of a channel in the period under consi-
deration compared to the total range of price movement. It also looks
for the last closing price to be within the channel, otherwise zeroed.
The `Index' is the `Degree' weighted for volatility.  Generally, the
the higher the index, the more suitable is the stock for trading as
a `rolling stock' between channel high and low points.

Results for CREE INC.:
Symbol? CREE
Total Months Available:  25
       Months in Cycle?   4

Months Covered by Periods:  12

Period 1           Period 2          Period 3
   H1      L1        H2      L2        H3      L3
  40.24   29.25     50.67   35.87     51.78   33.72

RANGE   =  51.78  TO   29.25            Close =  38.81
CHANNEL =  40.24  TO   35.87           Degree =   2
Volatility =  11.26%                    Index =   2
Channel Chart



[Home]
MACD Histogram Divergence

The theory is that connecting the two most recent peaks or valleys of the MACD histogram will signal the direction of the next major move.



[Home]
Intraday Chart

2 Days:



[Home]
Val Idea

0 out of 8 favorable, (negative opinion.)

Val Idea


[Home]
Stock Consultant

Stock Consultant Stock Consultant


[Home]
Point & Figure Chart

P & F Chart


[Home]
Wall Street Analyzer



[Home]
Marketspace Chart

Marketspace Chart



[Home]
Time Series Forecast

Time Series 1 Time Series 2


[Home]
Neural Network Prediction

"Neurostock" can only track long trades. Therefore its performance, as tracked by itself on stocks which are consistently falling, may not appear as good as it could if each "sell" signal were a "short sale."

Neural Chart
Heading
Neural Trades Neural Prediction



[Home]
Ultimate Trading Systems

2 out of 3 of the ultimate systems favor an upmove.


System Below:
Short term outlook: Positive: Bright Green, Negative: Bright Red
Long term outlook: Postive: Dark Green, Negative: Dark Red.




[Home]
Recommendation

Decision Weighting Factors
FactorsWeighted Points
News - 1
Comparison + 1
Industry - 1
Bond Issue + 1
Zenith Index - 1
Non-GAAP vs. GAAP Earnings + 1
Cash Flow + 1
Average to Current P/E - 1
Ratios + 1
Intrinsic Value DCF - 1
Fair Value Estimator - 1
Projected Earnings + 1
Research Reports - 1
Analysts + 1
Executive Perquisites - 1
Insider Activity - 1
Institutional Activity - 1
Management Reporting + 1
Short Interest - 1
Sentiment - 1
Standard & Poor's - 1
MACD Histogram Divergence + 1
Val Idea - 1
Stock Consultant + 1
Point & Figure - 1
Wall Street Analyzer + 1
Marketspace Chart + 1
Time Series Chart - 1
Neural Network + 1
Stock Options + 1
Ultimate Trading Systems + 1
Total - 1
Place 840 shares of Cree, Inc. (CREE) on the Active List.