Sei Investments Co. boosted its position in Cree, Inc. (NASDAQ:CREE) by 60.3% during the 2nd quarter, Holdings Channel reports. The firm owned 255,282 shares of the LED producer’s stock after purchasing an additional 96,041 shares during the period. Sei Investments Co.’s holdings in Cree were worth $10,612,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Hussman Strategic Advisors Inc. bought a new position in Cree in the 1st quarter worth $3,023,000. New York State Teachers Retirement System grew its position in Cree by 7.8% in the 1st quarter. New York State Teachers Retirement System now owns 192,463 shares of the LED producer’s stock worth $7,758,000 after purchasing an additional 14,000 shares during the last quarter. Criterion Capital Management LLC grew its position in Cree by 30.6% in the 1st quarter. Criterion Capital Management LLC now owns 1,758,262 shares of the LED producer’s stock worth $70,876,000 after purchasing an additional 412,010 shares during the last quarter. SG Americas Securities LLC grew its position in Cree by 40.7% in the 1st quarter. SG Americas Securities LLC now owns 28,516 shares of the LED producer’s stock worth $1,149,000 after purchasing an additional 8,249 shares during the last quarter. Finally, Swiss National Bank grew its position in Cree by 2.3% in the 1st quarter. Swiss National Bank now owns 170,241 shares of the LED producer’s stock worth $6,862,000 after purchasing an additional 3,800 shares during the last quarter.

Shares of Cree stock opened at $45.45 on Monday. The company has a current ratio of 3.74, a quick ratio of 2.46 and a debt-to-equity ratio of 0.15. Cree, Inc. has a twelve month low of $20.50 and a twelve month high of $51.78. The stock has a market cap of $5.07 billion, a PE ratio of 239.21 and a beta of 0.71.

Cree (NASDAQ:CREE) last issued its earnings results on Tuesday, August 14th. The LED producer reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.03. Cree had a negative net margin of 17.50% and a negative return on equity of 1.10%. The business had revenue of $409.45 million for the quarter, compared to analyst estimates of $399.69 million. During the same period in the previous year, the business earned $0.04 EPS. The firm’s revenue was up 14.1% on a year-over-year basis. research analysts forecast that Cree, Inc. will post -0.23 earnings per share for the current year.

Several research firms have issued reports on CREE. Canaccord Genuity set a $60.00 price target on shares of Cree and gave the stock a “buy” rating in a research report on Tuesday, August 14th. BidaskClub lowered shares of Cree from a “buy” rating to a “hold” rating in a research report on Thursday. TheStreet upgraded shares of Cree from a “c” rating to a “b-” rating in a research report on Wednesday, August 15th. Nomura began coverage on shares of Cree in a research report on Wednesday, July 18th. They issued a “neutral” rating and a $44.00 price target on the stock. Finally, ValuEngine lowered shares of Cree from a “buy” rating to a “hold” rating in a research report on Tuesday, May 1st. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $40.66.

Cree Profile

Cree, Inc provides lighting-class light emitting diode (LED), lighting, and semiconductor products for power and radio-frequency (RF) applications in the United States, China, Europe, South Korea, Japan, Malaysia, Taiwan, and internationally. Its Lighting Products segment offers LED lighting systems and bulbs for use in settings, such as office and retail space, restaurants and hospitality, schools and universities, manufacturing, healthcare, airports, municipal, residential, street lighting and parking structures, and other applications.

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Institutional Ownership by Quarter for Cree (NASDAQ:CREE)

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