Cree, Inc. (NASDAQ:CREE) – Stock analysts at Piper Jaffray Companies lifted their Q3 2019 earnings per share (EPS) estimates for shares of Cree in a report issued on Monday, March 18th. Piper Jaffray Companies analyst H. Kumar now forecasts that the LED producer will earn $0.05 per share for the quarter, up from their prior forecast of $0.04.

Cree (NASDAQ:CREE) last issued its quarterly earnings results on Wednesday, January 30th. The LED producer reported $0.23 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.06. Cree had a negative net margin of 18.11% and a positive return on equity of 0.90%. The company had revenue of $413.04 million during the quarter, compared to the consensus estimate of $408.75 million. During the same period in the prior year, the company earned ($0.01) EPS. Cree’s revenue was up 12.3% on a year-over-year basis.

A number of other analysts have also commented on CREE. JMP Securities lowered shares of Cree from an “outperform” rating to a “market perform” rating and set a $49.32 price objective for the company. in a research note on Tuesday, January 29th. They noted that the move was a valuation call. Zacks Investment Research raised shares of Cree from a “hold” rating to a “buy” rating and set a $46.00 price objective for the company in a research note on Tuesday, January 1st. TheStreet raised shares of Cree from a “c” rating to a “b-” rating in a research note on Wednesday, January 9th. Oppenheimer upped their price objective on shares of Cree from $53.00 to $59.00 and gave the company an “outperform” rating in a research note on Thursday, January 31st. Finally, BidaskClub raised shares of Cree from a “hold” rating to a “buy” rating in a research note on Friday, November 23rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. Cree currently has an average rating of “Buy” and an average price target of $51.84.

Shares of NASDAQ CREE opened at $59.44 on Wednesday. Cree has a twelve month low of $33.72 and a twelve month high of $59.84. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.33 and a quick ratio of 3.27. The stock has a market capitalization of $5.91 billion, a price-to-earnings ratio of -396.27, a price-to-earnings-growth ratio of 7.59 and a beta of 0.63.

Several institutional investors and hedge funds have recently modified their holdings of CREE. Capital Investment Advisory Services LLC acquired a new position in shares of Cree in the 4th quarter valued at about $35,000. Oregon Public Employees Retirement Fund increased its holdings in shares of Cree by 4,177.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,694,874 shares of the LED producer’s stock valued at $40,000 after purchasing an additional 1,655,251 shares during the period. DekaBank Deutsche Girozentrale increased its holdings in shares of Cree by 183.3% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 2,408 shares of the LED producer’s stock valued at $114,000 after purchasing an additional 1,558 shares during the period. Bank of Montreal Can increased its holdings in shares of Cree by 31.1% in the 4th quarter. Bank of Montreal Can now owns 4,010 shares of the LED producer’s stock valued at $172,000 after purchasing an additional 951 shares during the period. Finally, Clean Yield Group acquired a new position in shares of Cree in the 4th quarter valued at about $184,000.

About Cree

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.

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