Cree, Inc. (NASDAQ:CREE) Shares Bought by Natixis Advisors L.P.

Natixis Advisors L.P. grew its position in shares of Cree, Inc. (NASDAQ:CREE) by 6.7% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 67,400 shares of the LED producer’s stock after purchasing an additional 4,220 shares during the period. Natixis Advisors L.P. owned approximately 0.06% of Cree worth $3,787,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Prudential Financial Inc. increased its position in shares of Cree by 0.3% during the second quarter. Prudential Financial Inc. now owns 65,596 shares of the LED producer’s stock worth $3,685,000 after acquiring an additional 170 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Cree by 1.1% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 18,185 shares of the LED producer’s stock worth $1,041,000 after buying an additional 189 shares during the period. State Treasurer State of Michigan boosted its stake in shares of Cree by 0.5% during the first quarter. State Treasurer State of Michigan now owns 40,430 shares of the LED producer’s stock worth $2,313,000 after buying an additional 200 shares during the period. Municipal Employees Retirement System of Michigan boosted its stake in shares of Cree by 1.1% during the second quarter. Municipal Employees Retirement System of Michigan now owns 19,080 shares of the LED producer’s stock worth $1,072,000 after buying an additional 200 shares during the period. Finally, Raymond James Financial Services Advisors Inc. boosted its stake in shares of Cree by 1.5% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 16,125 shares of the LED producer’s stock worth $923,000 after buying an additional 246 shares during the period.

Shares of CREE traded up $0.56 during mid-day trading on Friday, reaching $51.33. 44,293 shares of the company’s stock were exchanged, compared to its average volume of 2,490,728. The company has a quick ratio of 4.57, a current ratio of 5.27 and a debt-to-equity ratio of 0.23. The company has a 50-day simple moving average of $53.48 and a two-hundred day simple moving average of $57.88. Cree, Inc. has a 52-week low of $33.72 and a 52-week high of $69.21. The company has a market cap of $5.46 billion, a price-to-earnings ratio of 142.69 and a beta of 0.92.

Cree (NASDAQ:CREE) last issued its quarterly earnings data on Tuesday, August 20th. The LED producer reported $0.11 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($0.09). Cree had a positive return on equity of 1.23% and a negative net margin of 27.86%. The business had revenue of $251.00 million for the quarter, compared to analysts’ expectations of $248.95 million. During the same period last year, the business earned $0.11 earnings per share. The company’s revenue for the quarter was down 5.6% on a year-over-year basis. As a group, equities research analysts predict that Cree, Inc. will post -0.2 EPS for the current fiscal year.

Several equities research analysts have recently weighed in on CREE shares. BNP Paribas started coverage on shares of Cree in a research note on Thursday, August 29th. They set an “underperform” rating and a $40.00 target price for the company. BidaskClub upgraded shares of Cree from a “sell” rating to a “hold” rating in a research note on Thursday. Canaccord Genuity set a $72.00 target price on shares of Cree and gave the stock a “buy” rating in a research note on Friday, September 6th. BMO Capital Markets decreased their target price on shares of Cree from $55.00 to $50.00 and set a “market perform” rating for the company in a research note on Wednesday, August 21st. Finally, JPMorgan Chase & Co. set a $45.00 price objective on shares of Cree and gave the company a “neutral” rating in a research report on Tuesday, August 27th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Hold” and an average price target of $56.75.

Cree 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.

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Institutional Ownership by Quarter for Cree (NASDAQ:CREE)

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