Cree, Inc., the upstream manufacturer of light-emitting diodes (LEDs), was motivated by Oppenheimer Co.'s investment rating from the wait-and-see to buy, and the stock rose to a new high of more than two months. Barrno`s.com reported on the 3rd that Oppenheimer analyst Andrew Uerkwitz believes that the LED lighting market is about to enter a moderate pricing environment, mainly because the capacity utilization rate of first-line chip companies is high, but cautious about capital expenditures. He advised investors to buy Cree, because the stock is the company that can benefit most from the trend of LED lighting. Cree Semiconductor Index constituent stocks on the 3rd, the news rose 501, closed at 52.83 US dollars, the highest gain of 30 constituent stocks, and hit a new high since April 22. Cree CEO ChuckSwoboda revealed on the earnings conference on April 22 that as the industry enters a consolidation phase, potential acquisition targets may emerge in the next 24 months. Cree's last acquisition was in August 2011, when it acquired RuudLighting for $525 million. As of March 30, 2014, Cree's cash, cash and short-term investments totaled $1.22 billion. NPDDisplaySearch pointed out on June 23 that the average compound annual growth rate (CAGR) of high-power LED shipments for streetlights, direct-lit backlights, spotlights and other high-brightness applications is expected to reach 13 during 2014-2017; high-power LEDs Demand is projected to increase from 18.5 billion in 2014 to 27 billion in 2017. Street lighting applications are expected to account for 28% of total high-power LED shipments this year, but by 2017 it is expected to rise to 41. High-power LED leading manufacturers include Philips Lumileds, OSRAM and Cree.
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