Cree, Inc. (NASDAQ:CREE) Shares Purchased by Advisory Research Inc.

Advisory Research Inc. increased its stake in shares of Cree, Inc. (NASDAQ:CREE) by 17.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,226 shares of the LED producer’s stock after acquiring an additional 1,391 shares during the period. Advisory Research Inc.’s holdings in Cree were worth $998,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of CREE. Creative Planning grew its holdings in Cree by 12.4% during the fourth quarter. Creative Planning now owns 4,400 shares of the LED producer’s stock worth $466,000 after acquiring an additional 484 shares during the period. California Public Employees Retirement System grew its holdings in Cree by 7.3% during the fourth quarter. California Public Employees Retirement System now owns 265,114 shares of the LED producer’s stock worth $28,076,000 after acquiring an additional 18,115 shares during the period. Treasurer of the State of North Carolina grew its holdings in Cree by 2.3% during the fourth quarter. Treasurer of the State of North Carolina now owns 40,600 shares of the LED producer’s stock worth $4,300,000 after acquiring an additional 900 shares during the period. CIBC Asset Management Inc grew its holdings in Cree by 2,492.9% during the fourth quarter. CIBC Asset Management Inc now owns 107,244 shares of the LED producer’s stock worth $11,357,000 after acquiring an additional 103,108 shares during the period. Finally, Founders Financial Alliance LLC grew its holdings in Cree by 445.9% in the fourth quarter. Founders Financial Alliance LLC now owns 2,484 shares of the LED producer’s stock valued at $262,000 after purchasing an additional 2,029 shares during the period.

Several analysts have commented on the company. Canaccord Genuity raised their price objective on Cree from $120.00 to $126.00 and gave the company a “buy” rating in a report on Thursday, April 29th. Bank of America assumed coverage on Cree in a report on Monday, March 1st. They issued a “buy” rating and a $140.00 price objective on the stock. Charter Equity raised Cree from a “market perform” rating to a “market outperform” rating in a report on Thursday, February 25th. Wells Fargo & Company raised their target price on Cree from $100.00 to $115.00 and gave the company an “equal weight” rating in a research report on Thursday, April 8th. Finally, New Street Research began coverage on Cree in a research report on Monday, March 29th. They issued a “buy” rating and a $120.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company. Cree has a consensus rating of “Hold” and a consensus target price of $115.46.

CREE opened at $98.50 on Friday. The firm has a market cap of $11.37 billion, a PE ratio of -26.27 and a beta of 1.51. The company has a debt-to-equity ratio of 0.37, a current ratio of 4.18 and a quick ratio of 3.79. The business’s fifty day moving average is $102.14. Cree, Inc. has a 12 month low of $56.39 and a 12 month high of $129.90.

Cree (NASDAQ:CREE) last announced its quarterly earnings results on Wednesday, April 28th. The LED producer reported ($0.22) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.31) by $0.09. The company had revenue of $137.30 million during the quarter, compared to the consensus estimate of $130.39 million. Cree had a negative return on equity of 6.87% and a negative net margin of 60.56%. Cree’s revenue for the quarter was up 20.5% on a year-over-year basis. During the same period in the previous year, the business earned ($0.17) EPS. As a group, equities research analysts anticipate that Cree, Inc. will post -1.38 EPS for the current year.

About Cree

Cree, Inc provides lighting-class light emitting diode (LED) and semiconductor products for power and radio-frequency (RF) applications in the United States, China, Europe, and internationally. It operates in two segments, Wolfspeed and LED Products. The Wolfspeed segment offers silicon carbide (SiC) materials for RF, power switching, gemstones, and other applications.

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Institutional Ownership by Quarter for Cree (NASDAQ:CREE)

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