Dynamic Technology Lab Private Ltd bought a new stake in Cree, Inc. (NASDAQ:CREE) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 38,499 shares of the LED producer’s stock, valued at approximately $1,458,000.

A number of other institutional investors have also recently bought and sold shares of CREE. Riverhead Capital Management LLC raised its position in shares of Cree by 31.4% during the third quarter. Riverhead Capital Management LLC now owns 10,456 shares of the LED producer’s stock worth $396,000 after acquiring an additional 2,500 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Cree by 8.9% during the third quarter. JPMorgan Chase & Co. now owns 78,854 shares of the LED producer’s stock worth $2,986,000 after acquiring an additional 6,445 shares during the last quarter. Tower Research Capital LLC TRC raised its position in shares of Cree by 70.5% during the third quarter. Tower Research Capital LLC TRC now owns 4,954 shares of the LED producer’s stock worth $188,000 after acquiring an additional 2,049 shares during the last quarter. Brown Advisory Inc. raised its position in shares of Cree by 139.1% during the third quarter. Brown Advisory Inc. now owns 58,243 shares of the LED producer’s stock worth $2,206,000 after acquiring an additional 33,885 shares during the last quarter. Finally, Parkwood LLC bought a new position in shares of Cree during the third quarter worth about $364,000.

A number of equities analysts have recently issued reports on CREE shares. Canaccord Genuity set a $60.00 price objective on Cree and gave the stock a “buy” rating in a research report on Tuesday, August 14th. BidaskClub downgraded Cree from a “buy” rating to a “hold” rating in a research report on Thursday, August 16th. Roth Capital set a $50.00 price objective on Cree and gave the stock a “hold” rating in a research report on Wednesday, August 15th. TheStreet upgraded Cree from a “c” rating to a “b-” rating in a research report on Wednesday, August 15th. Finally, ValuEngine upgraded Cree from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 18th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Cree currently has an average rating of “Hold” and an average price target of $45.87.

NASDAQ CREE opened at $43.87 on Friday. Cree, Inc. has a one year low of $30.78 and a one year high of $51.78. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.15 and a current ratio of 4.19.

Cree (NASDAQ:CREE) last released its earnings results on Tuesday, October 16th. The LED producer reported $0.22 EPS for the quarter, topping the consensus estimate of $0.12 by $0.10. Cree had a negative return on equity of 0.10% and a negative net margin of 17.60%. The business had revenue of $408.28 million during the quarter, compared to analysts’ expectations of $407.32 million. During the same quarter last year, the firm posted $0.04 earnings per share. The firm’s revenue was up 13.3% on a year-over-year basis. On average, equities research analysts forecast that Cree, Inc. will post 0.33 EPS for the current fiscal year.

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Cree Company Profile

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.

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Institutional Ownership by Quarter for Cree (NASDAQ:CREE)

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