Kovitz Investment Group Partners LLC boosted its position in Cree, Inc. (NASDAQ:CREE) by 3.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,870 shares of the LED producer’s stock after purchasing an additional 365 shares during the period. Kovitz Investment Group Partners LLC’s holdings in Cree were worth $456,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Evoke Wealth LLC purchased a new position in shares of Cree during the 3rd quarter worth approximately $31,000. Allred Capital Management LLC purchased a new position in Cree in the fourth quarter worth $30,000. NWK Group Inc. acquired a new stake in Cree in the fourth quarter valued at $32,000. Sugarloaf Wealth Management LLC acquired a new stake in Cree in the fourth quarter valued at $43,000. Finally, Global Retirement Partners LLC boosted its position in shares of Cree by 72.9% during the 3rd quarter. Global Retirement Partners LLC now owns 1,264 shares of the LED producer’s stock worth $62,000 after purchasing an additional 533 shares in the last quarter. 97.15% of the stock is currently owned by institutional investors.

NASDAQ:CREE opened at $38.33 on Thursday. The firm has a market cap of $4.07 billion, a price-to-earnings ratio of -8.91 and a beta of 0.85. The company has a current ratio of 5.20, a quick ratio of 4.54 and a debt-to-equity ratio of 0.24. The company’s 50-day moving average is $42.78 and its two-hundred day moving average is $46.51. Cree, Inc. has a 12-month low of $27.77 and a 12-month high of $69.21.

Cree (NASDAQ:CREE) last posted its quarterly earnings data on Wednesday, January 29th. The LED producer reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.12. The business had revenue of $239.90 million during the quarter, compared to analyst estimates of $236.33 million. Cree had a negative net margin of 44.86% and a negative return on equity of 2.00%. The company’s revenue was down 14.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.21 earnings per share. On average, equities research analysts forecast that Cree, Inc. will post -0.84 earnings per share for the current fiscal year.

A number of equities analysts have recently issued reports on the stock. TheStreet downgraded shares of Cree from a “c-” rating to a “d+” rating in a report on Friday, March 20th. Morgan Stanley assumed coverage on shares of Cree in a report on Thursday, February 27th. They issued an “overweight” rating and a $62.00 target price for the company. BidaskClub cut Cree from a “hold” rating to a “sell” rating in a research report on Tuesday, March 17th. ValuEngine downgraded shares of Cree from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 21st. Finally, JPMorgan Chase & Co. lowered shares of Cree from a “neutral” rating to an “underweight” rating and set a $30.00 price target on the stock. in a research report on Wednesday, March 18th. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the stock. Cree currently has an average rating of “Hold” and an average price target of $52.83.

Cree Company Profile

Cree, Inc provides lighting-class light emitting diode (LED), lighting, and semiconductor products for power and radio-frequency (RF) applications in the United States, China, Europe, South Korea, Japan, Malaysia, Taiwan, and internationally. It operates in three segments: Wolfspeed, LED Products, and Lighting Products.

Further Reading: Cost of Equity

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Institutional Ownership by Quarter for Cree (NASDAQ:CREE)

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