Cree, Inc. (NASDAQ:CREE) was upgraded by equities research analysts at Deutsche Bank AG from a “hold” rating to a “buy” rating in a report issued on Monday. The firm currently has a $45.00 target price on the LED producer’s stock. Deutsche Bank AG’s price target would indicate a potential upside of 24.04% from the company’s previous close.

Several other analysts have also issued reports on the company. Goldman Sachs Group, Inc. (The) set a $19.00 target price on Cree and gave the company a “sell” rating in a research note on Wednesday, October 18th. Williams Capital lowered Cree from a “hold” rating to a “sell” rating and set a $27.00 target price on the stock. in a research note on Thursday, October 19th. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Cree in a research note on Wednesday, October 18th. Bank of America Corporation boosted their target price on Cree from $31.00 to $32.00 and gave the company a “neutral” rating in a research note on Wednesday, October 18th. Finally, JMP Securities set a $41.00 price objective on Cree and gave the company a “buy” rating in a research note on Wednesday, October 18th. Seven investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. Cree has an average rating of “Hold” and a consensus target price of $27.50.

Shares of Cree (NASDAQ CREE) traded up $2.20 on Monday, hitting $36.28. The company’s stock had a trading volume of 2,190,639 shares, compared to its average volume of 3,423,553. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.61 and a current ratio of 4.82. Cree has a 52-week low of $20.50 and a 52-week high of $37.43.

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

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A number of hedge funds and other institutional investors have recently made changes to their positions in CREE. UBS Asset Management Americas Inc. increased its stake in Cree by 17.2% in the 1st quarter. UBS Asset Management Americas Inc. now owns 71,062 shares of the LED producer’s stock worth $1,899,000 after acquiring an additional 10,410 shares during the last quarter. JPMorgan Chase & Co. purchased a new position in shares of Cree in the 1st quarter worth about $346,000. Prudential Financial Inc. boosted its holdings in shares of Cree by 5.2% in the 1st quarter. Prudential Financial Inc. now owns 59,334 shares of the LED producer’s stock worth $1,586,000 after purchasing an additional 2,930 shares in the last quarter. OppenheimerFunds Inc. boosted its holdings in shares of Cree by 13.5% in the 1st quarter. OppenheimerFunds Inc. now owns 13,148 shares of the LED producer’s stock worth $351,000 after purchasing an additional 1,567 shares in the last quarter. Finally, Wellington Management Group LLP boosted its holdings in shares of Cree by 98.9% in the 1st quarter. Wellington Management Group LLP now owns 31,586 shares of the LED producer’s stock worth $844,000 after purchasing an additional 15,704 shares in the last quarter. Institutional investors and hedge funds own 91.68% of the company’s stock.

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.

Analyst Recommendations for Cree (NASDAQ:CREE)

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