18,600 Shares in Cree, Inc. (NASDAQ:CREE) Bought by Polianta Ltd

Polianta Ltd purchased a new position in shares of Cree, Inc. (NASDAQ:CREE) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 18,600 shares of the LED producer’s stock, valued at approximately $911,000.

Other institutional investors have also modified their holdings of the company. Prudential Financial Inc. raised its stake in shares of Cree by 0.3% in the second quarter. Prudential Financial Inc. now owns 65,596 shares of the LED producer’s stock valued at $3,685,000 after buying an additional 170 shares during the period. Municipal Employees Retirement System of Michigan raised its stake in shares of Cree by 1.1% in the second quarter. Municipal Employees Retirement System of Michigan now owns 19,080 shares of the LED producer’s stock valued at $1,072,000 after buying an additional 200 shares during the period. Vestmark Advisory Solutions Inc. raised its stake in shares of Cree by 1.6% in the second quarter. Vestmark Advisory Solutions Inc. now owns 13,582 shares of the LED producer’s stock valued at $763,000 after buying an additional 212 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in shares of Cree by 31.1% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,383 shares of the LED producer’s stock valued at $79,000 after buying an additional 328 shares during the period. Finally, Berkshire Asset Management LLC PA raised its stake in shares of Cree by 9.1% in the second quarter. Berkshire Asset Management LLC PA now owns 4,209 shares of the LED producer’s stock valued at $236,000 after buying an additional 352 shares during the period.

Shares of NASDAQ CREE traded up $1.33 during mid-day trading on Wednesday, hitting $46.99. The company had a trading volume of 507,481 shares, compared to its average volume of 1,537,297. The company has a market capitalization of $4.97 billion, a price-to-earnings ratio of 130.51 and a beta of 0.91. Cree, Inc. has a 1 year low of $33.72 and a 1 year high of $69.21. The company has a current ratio of 5.27, a quick ratio of 4.57 and a debt-to-equity ratio of 0.23. The stock’s 50-day moving average price is $48.21 and its 200-day moving average price is $57.30.

Cree (NASDAQ:CREE) last announced its quarterly earnings results on Tuesday, August 20th. The LED producer reported $0.11 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by ($0.09). The company had revenue of $251.00 million during the quarter, compared to analysts’ expectations of $248.95 million. Cree had a negative net margin of 27.86% and a positive return on equity of 1.23%. Cree’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.11 earnings per share. As a group, equities research analysts forecast that Cree, Inc. will post -0.16 earnings per share for the current year.

Several analysts have issued reports on the company. BNP Paribas assumed coverage on Cree in a research note on Thursday, August 29th. They issued an “underperform” rating and a $40.00 target price on the stock. JMP Securities lowered Cree from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 21st. Roth Capital lowered their target price on Cree from $73.00 to $67.00 and set a “buy” rating on the stock in a research note on Thursday, June 13th. Piper Jaffray Companies lowered Cree from a “neutral” rating to an “underweight” rating and lowered their target price for the company from $57.00 to $38.00 in a research note on Monday, August 26th. Finally, ValuEngine lowered Cree from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company’s stock. Cree currently has a consensus rating of “Hold” and a consensus target price of $56.14.

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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