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.

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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