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CREE

Cree

$25.20

0.4 (1.61%)

, IFNNY

Infineon

$17.59

0.307 (1.78%)

19:18
10/18/16
10/18
19:18
10/18/16
19:18

Cree gets second FTC information request over Wolfspeed sale

Cree (CREE) disclosed in a regulatory filing: "As previously announced, Cree reached an agreement to sell the Wolfspeed business to Infineon Technologies (IFNNY). The parties are continuing to work together to obtain the customarily required regulatory approvals in various jurisdictions, including foreign and domestic antitrust approvals, as well as CFIUS approval. The parties received a second request for additional information from the U.S. FTC in late September. Cree and Infineon continue to target closing the transaction around the end of calendar 2016."

CREE

Cree

$25.20

0.4 (1.61%)

IFNNY

Infineon

$17.59

0.307 (1.78%)

  • 18

    Oct

CREE Cree
$25.20

0.4 (1.61%)

08/17/16
NORL
08/17/16
DOWNGRADE
NORL
Market Perform
Cree downgraded to Market Perform from Outperform at Northland
08/24/16
ROTH
08/24/16
INITIATION
Target $34
ROTH
Buy
Cree initiated with a Buy at Roth Capital
Roth Capital analyst Craig Irwin initiated Cree with a Buy and $34 price target saying management is working to strategically reposition the company for accelerating growth in general lighting markets, and expects both revenue and profit acceleration as Wolfspeed proceeds are redeployed.
08/25/16
08/25/16
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Cree (CREE) initiated with a Buy at Roth Capital. 2. Reynolds American (RAI) initiated with a Neutral at UBS. 3. Twilio (TWLO) initiated with a Hold at Argus. 4. Phillips 66 Partners (PSXP) initiated with a Neutral at Goldman. 5. WD-40 (WDFC) initiated with a Hold at Jefferies. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
09/30/16
WILL
09/30/16
INITIATION
Target $23
WILL
Hold
Cree initiated with a Hold at Williams Capital
Williams Capital analyst Cynthia Motz initiated Cree with a Hold and a $23 price target.
IFNNY Infineon
$17.59

0.307 (1.78%)

06/22/16
BERN
06/22/16
NO CHANGE
BERN
Infineon to benefit from proliferation of electric cars, says Bernstein
Bernstein says that Infineon is "ideally positioned" to benefit from the increasing popularity of electric cars. The firm explains that electric cars need multiple times more semiconductors than traditional vehicles.. It says that Infineon's low production cost and technology advantages make it "ideally positioned" to exploit this trend. The firm keeps an Outperform rating on the shares.
07/15/16
BERN
07/15/16
NO CHANGE
BERN
Infineon acquisition positive, says Bernstein
After Infineon (IFNNY) agreed to buy Cree's (CREE) Wolfspeed division ,Bernstein says the deal "appears expensive at first." However, the firm, reporting that the unit has double the growth of all of Infineon's divisions, says that the transaction will enable the company "to secure growth for decades to come in power semiconductors." It keeps an Outperform rating on the stock.
08/03/16
UBSW
08/03/16
DOWNGRADE
UBSW
Neutral
Infineon downgraded to Neutral from Buy at UBS
09/12/16
BERN
09/12/16
NO CHANGE
BERN
Infineon can double earnings power by 2021, says Bernstein
Bernstein analyst Pierre Ferragu says that Infineon can double its earnings power over the next three to five years. The company is "uniquely exposed" to "semiconductor sweet spots" in the auto and industrial markets, and it should benefit from margin increases and share gains over the next several years, according to the analyst. Ferragu keeps an EUT17 and Outperform rating on the shares.

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0.4 (1.10%)

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RIG

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MET

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CVE

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