Equities research analysts predict that Cree, Inc. (NASDAQ:CREE) will post $350.16 million in sales for the current quarter, according to Zacks. Five analysts have made estimates for Cree’s earnings, with estimates ranging from $349.30 million to $350.80 million. Cree posted sales of $388.41 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 9.8%. The business is expected to issue its next earnings results after the market closes on Tuesday, August 22nd.

According to Zacks, analysts expect that Cree will report full-year sales of $350.16 million for the current financial year, with estimates ranging from $1.36 billion to $1.50 billion. For the next fiscal year, analysts expect that the business will post sales of $1.51 billion per share, with estimates ranging from $1.42 billion to $1.61 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Cree.

Several brokerages have issued reports on CREE. Cowen and Company reissued a “market perform” rating on shares of Cree in a research note on Wednesday, April 26th. Canaccord Genuity reissued a “hold” rating and issued a $23.00 price objective on shares of Cree in a research note on Friday, April 21st. Zacks Investment Research downgraded shares of Cree from a “hold” rating to a “sell” rating in a research note on Tuesday, July 18th. Williams Capital decreased their price objective on shares of Cree from $27.00 to $25.00 and set a “hold” rating for the company in a research note on Wednesday, April 26th. Finally, BidaskClub downgraded shares of Cree from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company. Cree presently has a consensus rating of “Hold” and an average target price of $25.00.

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Cree (NASDAQ:CREE) opened at 23.78 on Wednesday. The firm’s 50-day moving average price is $25.22 and its 200-day moving average price is $25.21. The company’s market cap is $2.31 billion. Cree has a 52-week low of $20.75 and a 52-week high of $31.64.

Several hedge funds have recently bought and sold shares of the stock. Chicago Equity Partners LLC increased its position in shares of Cree by 5.4% in the first quarter. Chicago Equity Partners LLC now owns 118,290 shares of the LED producer’s stock worth $3,162,000 after buying an additional 6,020 shares during the period. Eqis Capital Management Inc. increased its position in shares of Cree by 22.6% in the first quarter. Eqis Capital Management Inc. now owns 28,605 shares of the LED producer’s stock worth $765,000 after buying an additional 5,265 shares during the period. Wedge Capital Management L L P NC increased its position in shares of Cree by 3.6% in the first quarter. Wedge Capital Management L L P NC now owns 23,087 shares of the LED producer’s stock worth $617,000 after buying an additional 802 shares during the period. Great West Life Assurance Co. Can increased its position in shares of Cree by 2.6% in the first quarter. Great West Life Assurance Co. Can now owns 57,917 shares of the LED producer’s stock worth $1,547,000 after buying an additional 1,457 shares during the period. Finally, Advisory Services Network LLC acquired a new position in shares of Cree during the first quarter worth approximately $134,000. 86.52% of the stock is owned by hedge funds and other institutional investors.

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.

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