Cree, Inc. (NASDAQ:CREE), related to semiconductor and LED industry, is all set to come out with its second quarter results on Jan. 18, Tuesday after the closing bell. Analysts are targeting the company to report double-digit growth in it topline as well as bottomline.
Currently analyst expects the company to report profit of 58 cents a share, 20 cents a higher than the profit of 38 cents in a year ago quarter. Revenue is also estimated to grow by 38.70% to $276.59 billion, compared to $199.48 million in year ago quarter.
Traders have high expectations from the company after Intel Corporation (NASDAQ:INTC) reported higher-than-estimated earnings during the last week.
In the past four quarter, the company had beaten the Wall Street’s estimates in all the four quarters.
However, investors followed a cautious approach before the earnings as the stock slid over 4% during the past week. The stock closed 2.58% lower on Friday at $63.77.
Cree, Inc. (Cree) develops and manufactures semiconductor materials and devices primarily based on silicon carbide (SiC), gallium nitride (GaN) and related compounds.
