Shares of Cree, Inc. (NASDAQ:CREE) have been assigned a consensus recommendation of “Hold” from the sixteen brokerages that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, nine have given a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $58.67.
Several brokerages have issued reports on CREE. Zacks Investment Research lowered Cree from a “buy” rating to a “hold” rating in a report on Thursday, April 25th. Cowen set a $55.00 target price on Cree and gave the company a “hold” rating in a report on Thursday, May 2nd. BidaskClub lowered Cree from a “strong-buy” rating to a “buy” rating in a report on Friday, April 26th. Canaccord Genuity restated a “buy” rating and issued a $81.00 target price (up previously from $60.00) on shares of Cree in a report on Monday, April 15th. Finally, Oppenheimer lowered Cree from an “outperform” rating to a “market perform” rating and raised their target price for the company from $58.00 to $64.78 in a report on Thursday, May 2nd.
Shares of Cree stock traded up $1.78 on Friday, hitting $56.93. 47,387 shares of the company’s stock traded hands, compared to its average volume of 1,322,851. The firm’s fifty day moving average price is $58.68. The company has a market cap of $5.92 billion, a P/E ratio of -375.87, a price-to-earnings-growth ratio of 8.06 and a beta of 0.83. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.48 and a quick ratio of 3.97. Cree has a one year low of $33.72 and a one year high of $69.21.
Cree (NASDAQ:CREE) last announced its quarterly earnings results on Wednesday, May 1st. The LED producer reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.02. The business had revenue of $274.00 million for the quarter, compared to analyst estimates of $274.73 million. Cree had a positive return on equity of 1.59% and a negative net margin of 18.25%. The company’s quarterly revenue was up 21.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.04 earnings per share. As a group, analysts expect that Cree will post 0.36 EPS for the current year.
In other Cree news, Director Duy Loan T. Le purchased 2,000 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The stock was bought at an average cost of $60.07 per share, with a total value of $120,140.00. Following the completion of the transaction, the director now owns 8,442 shares of the company’s stock, valued at approximately $507,110.94. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.55% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Meridian Wealth Management LLC purchased a new stake in Cree in the first quarter worth $30,000. Quadrant Capital Group LLC grew its position in shares of Cree by 501.1% in the first quarter. Quadrant Capital Group LLC now owns 541 shares of the LED producer’s stock valued at $29,000 after purchasing an additional 451 shares in the last quarter. James Investment Research Inc. purchased a new position in shares of Cree in the first quarter valued at $33,000. FNY Investment Advisers LLC purchased a new position in shares of Cree in the first quarter valued at $42,000. Finally, Penserra Capital Management LLC grew its position in shares of Cree by 50.0% in the first quarter. Penserra Capital Management LLC now owns 1,008 shares of the LED producer’s stock valued at $57,000 after purchasing an additional 336 shares in the last quarter.
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.
Featured Story: Strangles
Receive News & Ratings for Cree Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cree and related companies with MarketBeat.com's FREE daily email newsletter.