Northland Securities reissued their under perform rating on shares of Cree (NASDAQ:CREE) in a research report report published on Tuesday morning. The firm currently has a $28.00 target price on the LED producer’s stock. The analysts noted that the move was a valuation call.

Several other equities analysts have also commented on the company. Bank of America upped their target price on Cree from $31.00 to $32.00 and gave the company a neutral rating in a research note on Wednesday, October 18th. J P Morgan Chase & Co lowered Cree from a neutral rating to an underweight rating and upped their target price for the company from $23.00 to $28.00 in a research note on Friday, October 6th. Williams Capital lowered Cree from a hold rating to a sell rating and set a $27.00 target price for the company. in a research note on Thursday, October 19th. Zacks Investment Research upgraded Cree from a sell rating to a hold rating in a research note on Friday, November 17th. Finally, Deutsche Bank upgraded Cree from a hold rating to a buy rating and upped their target price for the company from $26.00 to $45.00 in a research note on Monday, November 6th. Eight investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. Cree has a consensus rating of Hold and a consensus target price of $27.50.

Cree (CREE) traded down $2.00 during trading on Tuesday, reaching $37.63. The company had a trading volume of 2,705,100 shares, compared to its average volume of 1,388,329. Cree has a 52-week low of $20.50 and a 52-week high of $40.24. The company has a quick ratio of 3.61, a current ratio of 4.82 and a debt-to-equity ratio of 0.06.

Cree (NASDAQ:CREE) last released its earnings results on Tuesday, October 17th. The LED producer reported $0.04 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.04. The firm had revenue of $360.00 million during the quarter, compared to analyst estimates of $360.01 million. Cree had a negative return on equity of 0.44% and a negative net margin of 8.42%. The business’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.09 earnings per share. research analysts predict that Cree will post -0.27 EPS for the current year.

A number of hedge funds have recently bought and sold shares of the business. Profund Advisors LLC grew its position in Cree by 0.3% during the second quarter. Profund Advisors LLC now owns 33,127 shares of the LED producer’s stock valued at $817,000 after acquiring an additional 102 shares during the period. D.A. Davidson & CO. grew its position in Cree by 0.8% during the second quarter. D.A. Davidson & CO. now owns 42,003 shares of the LED producer’s stock valued at $1,035,000 after acquiring an additional 317 shares during the period. Arizona State Retirement System grew its position in Cree by 1.2% during the second quarter. Arizona State Retirement System now owns 41,000 shares of the LED producer’s stock valued at $1,011,000 after acquiring an additional 500 shares during the period. Northwestern Mutual Investment Management Company LLC grew its position in Cree by 3.3% during the second quarter. Northwestern Mutual Investment Management Company LLC now owns 17,339 shares of the LED producer’s stock valued at $424,000 after acquiring an additional 553 shares during the period. Finally, Raymond James Financial Services Advisors Inc. grew its position in Cree by 1.8% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 34,696 shares of the LED producer’s stock valued at $855,000 after acquiring an additional 627 shares during the period. 98.74% of the stock is owned by hedge funds and other institutional investors.

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About Cree

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)

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