Piper Jaffray Companies initiated coverage on shares of Cree (NASDAQ:CREE) in a research report issued on Wednesday. The brokerage set a “neutral” rating on the LED producer’s stock.

A number of other brokerages have also recently commented on CREE. Northland Securities restated an “under perform” rating and set a $28.00 target price on shares of Cree in a report on Tuesday. They noted that the move was a valuation call. J P Morgan Chase & Co set a $28.00 target price on Cree and gave the company a “sell” rating in a report on Tuesday. Zacks Investment Research cut Cree from a “hold” rating to a “sell” rating in a report on Friday, December 15th. Deutsche Bank set a $45.00 target price on Cree and gave the company a “buy” rating in a report on Wednesday. Finally, KeyCorp restated a “hold” rating on shares of Cree in a report on Monday, December 11th. Eight research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $27.50.

Cree (NASDAQ CREE) traded up $0.10 during midday trading on Wednesday, hitting $37.73. The stock had a trading volume of 1,174,408 shares, compared to its average volume of 1,387,456. Cree has a fifty-two week low of $20.50 and a fifty-two week high of $40.24. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.82 and a quick ratio of 3.61.

Cree (NASDAQ:CREE) last announced its earnings results on Tuesday, October 17th. The LED producer reported $0.04 EPS for the quarter, meeting analysts’ consensus estimates of $0.04. Cree had a negative return on equity of 0.44% and a negative net margin of 8.42%. The company had revenue of $360.00 million during the quarter, compared to analysts’ expectations of $360.01 million. During the same period last year, the business posted $0.09 EPS. Cree’s revenue for the quarter was down 3.0% on a year-over-year basis. equities analysts expect that Cree will post -0.27 earnings per share for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Profund Advisors LLC boosted its stake in shares of Cree by 0.3% in the 2nd quarter. Profund Advisors LLC now owns 33,127 shares of the LED producer’s stock valued at $817,000 after buying an additional 102 shares during the period. D.A. Davidson & CO. boosted its stake in shares of Cree by 0.8% in the 2nd quarter. D.A. Davidson & CO. now owns 42,003 shares of the LED producer’s stock valued at $1,035,000 after buying an additional 317 shares during the period. Arizona State Retirement System boosted its stake in shares of Cree by 1.2% in the 2nd quarter. Arizona State Retirement System now owns 41,000 shares of the LED producer’s stock valued at $1,011,000 after buying an additional 500 shares during the period. Northwestern Mutual Investment Management Company LLC boosted its stake in shares of Cree by 3.3% in the 2nd quarter. Northwestern Mutual Investment Management Company LLC now owns 17,339 shares of the LED producer’s stock valued at $424,000 after buying an additional 553 shares during the period. Finally, Raymond James Financial Services Advisors Inc. boosted its stake in shares of Cree by 1.8% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 34,696 shares of the LED producer’s stock valued at $855,000 after buying an additional 627 shares during the period. Institutional investors and hedge funds own 98.74% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: “Cree (CREE) Coverage Initiated by Analysts at Piper Jaffray Companies” was originally reported by Watch List News and is owned by of Watch List News. If you are accessing this report on another publication, it was copied illegally and republished in violation of United States and international copyright and trademark legislation. The original version of this report can be read at https://www.watchlistnews.com/cree-cree-coverage-initiated-by-analysts-at-piper-jaffray-companies/1775100.html.

Cree Company Profile

Cree, Inc is a manufacturer of lighting-class light emitting diode (LED) products, lighting products and semiconductor products for power and radio-frequency (RF) applications. The Company’s products are focused for applications, such as indoor and outdoor lighting, video displays, transportation, electronic signs and signals, power supplies, inverters and wireless systems.

Analyst Recommendations for Cree (NASDAQ:CREE)

Receive News & Ratings for Cree Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cree and related companies with MarketBeat.com's FREE daily email newsletter.