Cree (NASDAQ:CREE)‘s stock had its “hold” rating reiterated by research analysts at KeyCorp in a research note issued on Monday.

Other analysts also recently issued research reports about the company. TheStreet upgraded Cree from a “d+” rating to a “c-” rating in a report on Wednesday, September 27th. Oppenheimer restated a “hold” rating on shares of Cree in a report on Wednesday, October 18th. Cowen set a $22.00 price objective on Cree and gave the stock a “hold” rating in a report on Wednesday, August 23rd. Canaccord Genuity restated a “hold” rating and set a $23.00 price objective on shares of Cree in a report on Wednesday, August 23rd. Finally, Williams Capital downgraded Cree from a “hold” rating to a “sell” rating and set a $27.00 price objective on the stock. in a report on Thursday, October 19th. Seven research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. Cree currently has an average rating of “Hold” and a consensus target price of $27.50.

Shares of Cree (NASDAQ:CREE) opened at $36.12 on Monday. Cree has a 1-year low of $20.50 and a 1-year high of $37.50. The company has a quick ratio of 3.61, a current ratio of 4.82 and a debt-to-equity ratio of 0.06.

Cree (NASDAQ:CREE) last issued its quarterly earnings results on Tuesday, October 17th. The LED producer reported $0.04 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.04. Cree had a negative net margin of 8.42% and a negative return on equity of 0.44%. The company had revenue of $360.00 million during the quarter, compared to the consensus estimate of $360.01 million. During the same period in the prior year, the company earned $0.09 EPS. Cree’s revenue was down 3.0% on a year-over-year basis. research analysts forecast that Cree will post -0.27 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of CREE. BlackRock Inc. increased its holdings in shares of Cree by 26.8% in the 2nd quarter. BlackRock Inc. now owns 10,245,032 shares of the LED producer’s stock valued at $252,541,000 after purchasing an additional 2,164,847 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Cree by 13.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,784,651 shares of the LED producer’s stock valued at $191,893,000 after purchasing an additional 897,753 shares during the period. State Street Corp increased its holdings in shares of Cree by 24.2% in the 2nd quarter. State Street Corp now owns 3,688,186 shares of the LED producer’s stock valued at $90,915,000 after purchasing an additional 717,698 shares during the period. Fairpointe Capital LLC increased its holdings in shares of Cree by 8.8% in the 2nd quarter. Fairpointe Capital LLC now owns 6,070,231 shares of the LED producer’s stock valued at $149,631,000 after purchasing an additional 492,465 shares during the period. Finally, Victory Capital Management Inc. acquired a new position in shares of Cree in the 3rd quarter valued at about $13,405,000. Institutional investors own 98.96% of the company’s stock.

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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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