Cree, Inc. (NASDAQ:CREE) Rating Lowered to Hold at BidaskClub
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.
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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.
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.
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