Northland Securities reaffirmed their hold rating on shares of Cree, Inc. (NASDAQ:CREE) in a report published on Thursday. The firm currently has a $28.00 price target on the LED producer’s stock.

A number of other equities analysts have also weighed in on the stock. Zacks Investment Research upgraded shares of Cree from a strong sell rating to a hold rating in a report on Tuesday, June 27th. Roth Capital reiterated a buy rating and issued a $29.00 price target (up previously from $27.00) on shares of Cree in a report on Tuesday, June 20th. BidaskClub lowered shares of Cree from a buy rating to a hold rating in a report on Friday, July 28th. J P Morgan Chase & Co reiterated a neutral rating and issued a $26.00 price target (up previously from $25.00) on shares of Cree in a report on Monday, June 5th. Finally, ValuEngine upgraded shares of Cree from a sell rating to a hold rating in a report on Friday, September 1st. Five analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $24.04.

Cree (NASDAQ CREE) opened at 28.19 on Thursday. Cree has a 1-year low of $20.50 and a 1-year high of $31.64. The firm’s 50-day moving average price is $23.91 and its 200-day moving average price is $24.64. The firm’s market capitalization is $2.75 billion.

Cree (NASDAQ:CREE) last announced its quarterly earnings results on Tuesday, August 22nd. The LED producer reported $0.04 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.04. The company had revenue of $359.00 million for the quarter, compared to analyst estimates of $349.82 million. Cree had a negative net margin of 7.17% and a negative return on equity of 0.13%. Cree’s revenue for the quarter was down 7.6% on a year-over-year basis. During the same quarter last year, the business earned $0.19 EPS. On average, equities research analysts predict that Cree will post $0.30 EPS for the current fiscal year.

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A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. lifted its holdings in Cree by 26.8% in the 2nd quarter. BlackRock Inc. now owns 10,245,032 shares of the LED producer’s stock worth $252,541,000 after buying an additional 2,164,847 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Cree by 3.0% in the 2nd quarter. Vanguard Group Inc. now owns 8,226,854 shares of the LED producer’s stock worth $202,792,000 after buying an additional 236,090 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Cree by 13.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,784,651 shares of the LED producer’s stock worth $191,893,000 after buying an additional 897,753 shares in the last quarter. Fairpointe Capital LLC lifted its holdings in Cree by 8.8% in the 2nd quarter. Fairpointe Capital LLC now owns 6,070,231 shares of the LED producer’s stock worth $149,631,000 after buying an additional 492,465 shares in the last quarter. Finally, State Street Corp lifted its holdings in Cree by 24.2% in the 2nd quarter. State Street Corp now owns 3,688,186 shares of the LED producer’s stock worth $90,915,000 after buying an additional 717,698 shares in the last quarter. Hedge funds and other institutional investors own 91.30% 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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