Sei Investments Co. Has $622,000 Position in Cree, Inc. (CREE)
Sei Investments Co. increased its position in shares of Cree, Inc. (NASDAQ:CREE) by 1,632.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 22,060 shares of the LED producer’s stock after acquiring an additional 20,787 shares during the period. Sei Investments Co.’s holdings in Cree were worth $622,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently bought and sold shares of the stock. Sunbelt Securities Inc. bought a new stake in Cree during the 3rd quarter worth approximately $226,000. Principal Financial Group Inc. increased its holdings in Cree by 1.8% during the 3rd quarter. Principal Financial Group Inc. now owns 417,150 shares of the LED producer’s stock worth $11,760,000 after acquiring an additional 7,340 shares during the period. Riverbridge Partners LLC increased its holdings in Cree by 9.7% during the 3rd quarter. Riverbridge Partners LLC now owns 47,261 shares of the LED producer’s stock worth $1,332,000 after acquiring an additional 4,184 shares during the period. Chicago Equity Partners LLC increased its holdings in Cree by 4.5% during the 3rd quarter. Chicago Equity Partners LLC now owns 360,675 shares of the LED producer’s stock worth $10,167,000 after acquiring an additional 15,480 shares during the period. Finally, Canada Pension Plan Investment Board increased its holdings in Cree by 65.0% during the 3rd quarter. Canada Pension Plan Investment Board now owns 791,033 shares of the LED producer’s stock worth $22,299,000 after acquiring an additional 311,500 shares during the period. 98.96% of the stock is currently owned by institutional investors and hedge funds.
CREE has been the topic of a number of analyst reports. Bank of America upped their target price on shares of Cree from $31.00 to $32.00 and gave the stock a “neutral” rating in a report on Wednesday, October 18th. J P Morgan Chase & Co lowered shares of Cree from a “neutral” rating to an “underweight” rating and upped their target price for the stock from $23.00 to $28.00 in a report on Friday, October 6th. Williams Capital lowered shares of Cree from a “hold” rating to a “sell” rating and set a $27.00 target price on the stock. in a report on Thursday, October 19th. Zacks Investment Research raised shares of Cree from a “sell” rating to a “hold” rating in a report on Friday, November 17th. Finally, Deutsche Bank raised shares of Cree from a “hold” rating to a “buy” rating and upped their target price for the stock from $26.00 to $45.00 in a report on Monday, November 6th. Seven analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $27.50.
Cree, Inc. (CREE) opened at $34.77 on Monday. Cree, Inc. has a twelve month low of $20.50 and a twelve month high of $37.50. The company has a current ratio of 4.82, a quick ratio of 3.61 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 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.04. The firm had revenue of $360.00 million for the quarter, compared to analyst estimates of $360.01 million. Cree had a negative net margin of 8.42% and a negative return on equity of 0.44%. The business’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.09 EPS. sell-side analysts expect that Cree, Inc. will post -0.27 EPS for the current year.
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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.
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