A number of other brokerages have also weighed in on CREE. KeyCorp reiterated a hold rating on shares of Cree in a research report on Wednesday, March 7th. Cowen set a $37.00 target price on shares of Cree and gave the stock a hold rating in a research report on Tuesday, March 6th. BidaskClub upgraded shares of Cree from a buy rating to a strong-buy rating in a research report on Friday, March 16th. Williams Capital reiterated a hold rating and set a $38.00 target price (up previously from $36.00) on shares of Cree in a research report on Wednesday, March 7th. Finally, Goldman Sachs upgraded shares of Cree from a sell rating to a neutral rating and increased their target price for the stock from $39.00 to $41.76 in a research report on Wednesday, March 7th. Four investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $33.71.
Cree (NASDAQ CREE) opened at $43.21 on Tuesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.59 and a quick ratio of 3.48. Cree has a 1 year low of $20.50 and a 1 year high of $45.43.
Cree (NASDAQ:CREE) last issued its earnings results on Tuesday, January 23rd. The LED producer reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.02). The business had revenue of $367.87 million for the quarter, compared to the consensus estimate of $349.62 million. Cree had a negative return on equity of 1.24% and a negative net margin of 7.77%. Cree’s revenue for the quarter was down 8.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.30 EPS. sell-side analysts expect that Cree will post -0.37 earnings per share for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its position in shares of Cree by 1.8% in the third quarter. Principal Financial Group Inc. now owns 417,150 shares of the LED producer’s stock valued at $11,760,000 after acquiring an additional 7,340 shares during the period. SG Americas Securities LLC bought a new position in shares of Cree in the fourth quarter valued at approximately $753,000. Balentine LLC boosted its position in shares of Cree by 5,606.9% in the third quarter. Balentine LLC now owns 56,555 shares of the LED producer’s stock valued at $1,594,000 after acquiring an additional 55,564 shares during the period. Alpha Windward LLC bought a new position in shares of Cree in the fourth quarter valued at approximately $540,000. Finally, Boothbay Fund Management LLC raised its stake in Cree by 276.4% in the third quarter. Boothbay Fund Management LLC now owns 137,527 shares of the LED producer’s stock valued at $3,877,000 after purchasing an additional 100,987 shares in the last quarter. Institutional investors own 98.94% 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.
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