Cree, Inc. (NASDAQ:CREE) has been given an average recommendation of “Hold” by the twenty-two brokerages that are presently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a sell rating, twelve have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $43.98.

CREE has been the subject of a number of analyst reports. ValuEngine raised shares of Cree from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 18th. BidaskClub downgraded shares of Cree from a “buy” rating to a “hold” rating in a report on Thursday, August 16th. Roth Capital raised shares of Cree from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $50.00 to $60.00 in a report on Tuesday, September 11th. Canaccord Genuity initiated coverage on shares of Cree in a report on Friday, August 3rd. They set a “buy” rating and a $61.00 price objective for the company. Finally, Cowen reaffirmed a “hold” rating and set a $45.00 price objective on shares of Cree in a report on Thursday, August 9th.

Cree stock traded down $1.60 during mid-day trading on Wednesday, reaching $38.05. The company had a trading volume of 1,957,600 shares, compared to its average volume of 1,392,783. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.58 and a quick ratio of 2.39. Cree has a 52 week low of $26.45 and a 52 week high of $51.78. The company has a market cap of $4.12 billion, a PE ratio of -253.67 and a beta of 0.55.

Cree (NASDAQ:CREE) last released its quarterly earnings data on Tuesday, August 14th. The LED producer reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.03. The company had revenue of $409.45 million during the quarter, compared to the consensus estimate of $399.69 million. Cree had a negative net margin of 18.74% and a negative return on equity of 0.74%. The firm’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same period last year, the firm earned $0.04 EPS. analysts expect that Cree will post 0.13 earnings per share for the current fiscal year.

In related news, EVP David Todd Emerson sold 22,500 shares of Cree stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $45.84, for a total transaction of $1,031,400.00. Following the completion of the transaction, the executive vice president now directly owns 159,097 shares of the company’s stock, valued at approximately $7,293,006.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.55% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. D L Carlson Investment Group Inc. increased its position in Cree by 18.2% in the 2nd quarter. D L Carlson Investment Group Inc. now owns 197,385 shares of the LED producer’s stock valued at $8,205,000 after acquiring an additional 30,375 shares in the last quarter. SG Americas Securities LLC increased its position in Cree by 12.6% in the 2nd quarter. SG Americas Securities LLC now owns 32,104 shares of the LED producer’s stock valued at $1,335,000 after acquiring an additional 3,588 shares in the last quarter. BlackRock Inc. increased its position in Cree by 6.3% in the 2nd quarter. BlackRock Inc. now owns 11,800,582 shares of the LED producer’s stock valued at $490,550,000 after acquiring an additional 699,285 shares in the last quarter. Schwab Charles Investment Management Inc. increased its position in Cree by 4.8% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 828,549 shares of the LED producer’s stock valued at $34,443,000 after acquiring an additional 38,055 shares in the last quarter. Finally, Raymond James & Associates increased its position in Cree by 21.7% in the 2nd quarter. Raymond James & Associates now owns 575,303 shares of the LED producer’s stock valued at $23,915,000 after acquiring an additional 102,570 shares in the last quarter.

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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Analyst Recommendations for Cree (NASDAQ:CREE)

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