Cree, Inc. (NASDAQ:CREE) has been given a consensus recommendation of “Hold” by the twenty-two ratings firms that are presently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $38.28.

Several analysts have recently weighed in on CREE shares. Deutsche Bank set a $52.00 price objective on Cree and gave the stock a “buy” rating in a report on Tuesday, March 20th. ValuEngine raised Cree from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. BidaskClub lowered Cree from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 29th. Zacks Investment Research raised Cree from a “hold” rating to a “buy” rating and set a $43.00 price objective on the stock in a report on Monday, April 30th. Finally, KeyCorp reissued a “hold” rating on shares of Cree in a report on Wednesday, March 7th.

Shares of NASDAQ:CREE opened at $50.08 on Monday. Cree has a 1-year low of $20.50 and a 1-year high of $50.67. The company has a market cap of $4.92 billion, a PE ratio of 263.79 and a beta of 0.67. 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 (NASDAQ:CREE) last announced its quarterly earnings data on Tuesday, April 24th. The LED producer reported $0.04 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.03. Cree had a negative return on equity of 1.10% and a negative net margin of 17.50%. The company had revenue of $355.96 million for the quarter, compared to analyst estimates of $347.38 million. During the same quarter last year, the firm earned $0.01 EPS. Cree’s revenue for the quarter was up 4.2% compared to the same quarter last year. research analysts expect that Cree will post -0.24 EPS for the current year.

In related news, insider Michael E. Mcdevitt sold 7,000 shares of the business’s stock in a transaction on Thursday, April 26th. The stock was sold at an average price of $39.36, for a total value of $275,520.00. Following the sale, the insider now owns 169,924 shares of the company’s stock, valued at approximately $6,688,208.64. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.10% of the stock is owned by insiders.

A number of institutional investors have recently bought and sold shares of the business. Profund Advisors LLC boosted its stake in Cree by 3.4% in the first quarter. Profund Advisors LLC now owns 37,088 shares of the LED producer’s stock worth $1,495,000 after purchasing an additional 1,203 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in Cree by 6.9% in the fourth quarter. Envestnet Asset Management Inc. now owns 25,658 shares of the LED producer’s stock worth $953,000 after purchasing an additional 1,666 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Cree by 41.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,721 shares of the LED producer’s stock worth $212,000 after purchasing an additional 1,687 shares in the last quarter. Summit Trail Advisors LLC boosted its stake in Cree by 20.7% in the first quarter. Summit Trail Advisors LLC now owns 13,179 shares of the LED producer’s stock worth $337,000 after purchasing an additional 2,259 shares in the last quarter. Finally, First Trust Advisors LP boosted its stake in Cree by 2.3% in the fourth quarter. First Trust Advisors LP now owns 114,412 shares of the LED producer’s stock worth $4,249,000 after purchasing an additional 2,617 shares in the last quarter. 98.73% of the stock is currently owned by institutional investors.

About Cree

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.

Analyst Recommendations for Cree (NASDAQ:CREE)

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