Cree, Inc. (NASDAQ:CREE) has been assigned a consensus recommendation of “Hold” from the nineteen analysts that are covering the company, MarketBeat.com reports. Seven investment analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $25.73.

CREE has been the topic of a number of recent analyst reports. J P Morgan Chase & Co lowered shares of Cree from a “neutral” rating to an “underweight” rating and lifted their price target for the company from $23.00 to $28.00 in a research report on Friday, October 6th. Williams Capital lowered shares of Cree from a “hold” rating to a “sell” rating and set a $27.00 target price on the stock. in a research report on Thursday, October 19th. BidaskClub lowered shares of Cree from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Goldman Sachs Group, Inc. (The) set a $19.00 target price on shares of Cree and gave the stock a “sell” rating in a research report on Wednesday, October 18th. Finally, Zacks Investment Research lowered shares of Cree from a “hold” rating to a “sell” rating in a research report on Tuesday, July 18th.

Shares of Cree (NASDAQ CREE) traded down $0.47 during midday trading on Friday, hitting $34.08. The company had a trading volume of 757,286 shares, compared to its average volume of 3,519,472.

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

Several large investors have recently modified their holdings of CREE. BlackRock Inc. boosted its stake in shares of Cree by 13,401.9% in the 1st quarter. BlackRock Inc. now owns 8,080,185 shares of the LED producer’s stock valued at $215,984,000 after purchasing an additional 8,020,340 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Cree by 13.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,784,651 shares of the LED producer’s stock valued at $191,893,000 after purchasing an additional 897,753 shares in the last quarter. State Street Corp boosted its stake in shares of Cree by 24.2% in the 2nd quarter. State Street Corp now owns 3,688,186 shares of the LED producer’s stock valued at $90,915,000 after purchasing an additional 717,698 shares in the last quarter. Fairpointe Capital LLC boosted its stake in shares of Cree by 8.8% in the 2nd quarter. Fairpointe Capital LLC now owns 6,070,231 shares of the LED producer’s stock valued at $149,631,000 after purchasing an additional 492,465 shares in the last quarter. Finally, Victory Capital Management Inc. acquired a new stake in shares of Cree in the 3rd quarter valued at $13,405,000. Institutional investors own 90.95% of the company’s stock.

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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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