Cree, Inc. (CREE) Given Consensus Recommendation of “Hold” by Analysts
Shares of Cree, Inc. (NASDAQ:CREE) have earned a consensus rating of “Hold” from the nineteen brokerages that are presently covering the firm, MarketBeat reports. Six research analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and three have given a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $27.50.
Several equities analysts have weighed in on CREE shares. Roth Capital set a $35.00 price objective on Cree and gave the company a “buy” rating in a research note on Monday, October 16th. Goldman Sachs Group, Inc. (The) set a $19.00 target price on Cree and gave the stock a “sell” rating in a research note on Wednesday, October 18th. Northland Securities reiterated a “hold” rating and set a $28.00 target price on shares of Cree in a research note on Thursday, September 28th. J P Morgan Chase & Co cut Cree from a “neutral” rating to an “underweight” rating and lifted their target price for the stock from $23.00 to $28.00 in a research note on Friday, October 6th. Finally, JMP Securities set a $41.00 target price on Cree and gave the stock a “buy” rating in a research note on Wednesday, October 18th.
Shares of Cree (CREE) traded down $0.68 during trading hours on Thursday, reaching $36.61. The company’s stock had a trading volume of 521,100 shares, compared to its average volume of 1,388,952. The company has a current ratio of 4.82, a quick ratio of 3.61 and a debt-to-equity ratio of 0.06. Cree has a fifty-two week low of $20.50 and a fifty-two week high of $37.50.
Cree (NASDAQ:CREE) last issued its quarterly earnings data on Tuesday, October 17th. The LED producer reported $0.04 earnings per share for the quarter, meeting the consensus estimate of $0.04. Cree had a negative return on equity of 0.44% and a negative net margin of 8.42%. The business had revenue of $360.00 million for the quarter, compared to analysts’ expectations of $360.01 million. During the same period last year, the business earned $0.09 EPS. The business’s revenue was down 3.0% on a year-over-year basis. sell-side analysts forecast that Cree will post -0.27 earnings per share for the current year.
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A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Profund Advisors LLC increased its holdings in Cree by 0.3% in the 2nd quarter. Profund Advisors LLC now owns 33,127 shares of the LED producer’s stock worth $817,000 after acquiring an additional 102 shares during the last quarter. D.A. Davidson & CO. increased its holdings in Cree by 0.8% in the 2nd quarter. D.A. Davidson & CO. now owns 42,003 shares of the LED producer’s stock worth $1,035,000 after acquiring an additional 317 shares during the last quarter. Wrapmanager Inc. increased its holdings in Cree by 3.3% in the 2nd quarter. Wrapmanager Inc. now owns 11,081 shares of the LED producer’s stock worth $273,000 after acquiring an additional 354 shares during the last quarter. State Treasurer State of Michigan increased its holdings in Cree by 1.3% in the 2nd quarter. State Treasurer State of Michigan now owns 40,100 shares of the LED producer’s stock worth $988,000 after acquiring an additional 500 shares during the last quarter. Finally, Arizona State Retirement System increased its holdings in Cree by 1.2% in the 2nd quarter. Arizona State Retirement System now owns 41,000 shares of the LED producer’s stock worth $1,011,000 after acquiring an additional 500 shares during the last quarter. 96.81% of the stock is owned by institutional investors.
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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