First Allied Advisory Services Inc. trimmed its holdings in Cree, Inc. (NASDAQ:CREE) by 0.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 8,671 shares of the LED producer’s stock after selling 50 shares during the period. First Allied Advisory Services Inc.’s holdings in Cree were worth $208,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Profund Advisors LLC grew its position in Cree by 0.3% in the second quarter. Profund Advisors LLC now owns 33,127 shares of the LED producer’s stock worth $817,000 after acquiring an additional 102 shares during the period. D.A. Davidson & CO. lifted its stake in Cree by 0.8% during the second quarter. D.A. Davidson & CO. now owns 42,003 shares of the LED producer’s stock worth $1,035,000 after purchasing an additional 317 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in Cree by 1.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 18,982 shares of the LED producer’s stock worth $507,000 after purchasing an additional 350 shares in the last quarter. Wrapmanager Inc. lifted its stake in Cree by 3.3% during the second quarter. Wrapmanager Inc. now owns 11,081 shares of the LED producer’s stock worth $273,000 after purchasing an additional 354 shares in the last quarter. Finally, State Treasurer State of Michigan lifted its stake in Cree by 1.3% during the second quarter. State Treasurer State of Michigan now owns 40,100 shares of the LED producer’s stock worth $988,000 after purchasing an additional 500 shares in the last quarter. Institutional investors own 91.37% of the company’s stock.

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Cree, Inc. (CREE) opened at 29.21 on Friday. The stock’s market cap is $2.85 billion. The firm’s 50 day moving average price is $26.03 and its 200 day moving average price is $24.82. Cree, Inc. has a one year low of $20.50 and a one year high of $31.64.

Cree (NASDAQ:CREE) last issued its earnings results on Tuesday, August 22nd. The LED producer reported $0.04 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.04. The business 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%. The company’s revenue for the quarter was down 7.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.19 EPS. Equities analysts forecast that Cree, Inc. will post $0.30 earnings per share for the current year.

A number of research analysts have commented on CREE shares. Roth Capital restated a “buy” rating and set a $29.00 price target (up from $27.00) on shares of Cree in a research note on Tuesday, June 20th. BidaskClub cut Cree from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Zacks Investment Research cut Cree from a “hold” rating to a “sell” rating in a research note on Tuesday, July 18th. J P Morgan Chase & Co cut Cree from a “neutral” rating to an “underweight” rating and upped their price target for the stock from $23.00 to $28.00 in a research note on Friday, October 6th. Finally, ValuEngine upgraded Cree from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Six research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $23.58.

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.

Institutional Ownership by Quarter for Cree (NASDAQ:CREE)

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