BidaskClub lowered shares of Cree, Inc. (NASDAQ:CREE) from a buy rating to a hold rating in a research note published on Friday morning.

Other equities research analysts have also recently issued reports about the company. Roth Capital reiterated a buy rating and issued a $33.00 target price (down from $34.00) on shares of Cree in a report on Friday, March 31st. TheStreet cut Cree from a c- rating to a d+ rating in a report on Wednesday, May 17th. Zacks Investment Research upgraded Cree from a strong sell rating to a hold rating in a report on Tuesday, June 27th. Williams Capital lowered their target price on Cree from $27.00 to $25.00 and set a hold rating for the company in a report on Wednesday, April 26th. Finally, Canaccord Genuity reiterated a hold rating and issued a $23.00 target price on shares of Cree in a report on Friday, April 21st. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company. Cree currently has an average rating of Hold and an average target price of $25.00.

Shares of Cree (NASDAQ CREE) traded down 0.31% during trading on Friday, reaching $25.83. The company’s stock had a trading volume of 85,514 shares. Cree has a one year low of $20.75 and a one year high of $31.64. The company has a 50-day moving average price of $25.44 and a 200-day moving average price of $25.50. The stock’s market cap is $2.51 billion.

COPYRIGHT VIOLATION NOTICE: “Cree, Inc. (NASDAQ:CREE) Rating Lowered to Hold at BidaskClub” was first published by Watch List News and is the property of of Watch List News. If you are viewing this piece on another domain, it was stolen and reposted in violation of United States & international copyright and trademark legislation. The original version of this piece can be accessed at https://www.watchlistnews.com/cree-inc-nasdaqcree-rating-lowered-to-hold-at-bidaskclub/1465925.html.

Large investors have recently modified their holdings of the company. Advisory Services Network LLC bought a new stake in shares of Cree during the first quarter worth $134,000. Strs Ohio bought a new stake in shares of Cree during the second quarter worth $140,000. LS Investment Advisors LLC boosted its stake in shares of Cree by 17.9% in the second quarter. LS Investment Advisors LLC now owns 7,643 shares of the LED producer’s stock worth $188,000 after buying an additional 1,160 shares during the period. Oppenheimer Asset Management Inc. bought a new stake in shares of Cree during the first quarter worth $249,000. Finally, Wrapmanager Inc. boosted its stake in shares of Cree by 10.1% in the first quarter. Wrapmanager Inc. now owns 10,727 shares of the LED producer’s stock worth $287,000 after buying an additional 988 shares during the period. Hedge funds and other institutional investors own 86.22% of the company’s stock.

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)

Receive News & Ratings for Cree Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cree Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.