Recent Research Analysts’ Ratings Changes for Cree (CREE)

Several brokerages have updated their recommendations and price targets on shares of Cree (NASDAQ: CREE) in the last few weeks:

  • 9/1/2017 – Cree was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.
  • 8/25/2017 – Cree had its “equal weight” rating reaffirmed by analysts at KeyCorp. They now have a $21.00 price target on the stock.
  • 8/23/2017 – Cree was downgraded by analysts at Stephens from an “equal weight” rating to an “underweight” rating. They now have a $16.50 price target on the stock, down previously from $27.50. They noted that the move was a valuation call. They noted that the move was a valuation call.
  • 8/23/2017 – Cree was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 8/23/2017 – Cree had its “hold” rating reaffirmed by analysts at Canaccord Genuity. They now have a $23.00 price target on the stock.
  • 8/23/2017 – Cree had its “hold” rating reaffirmed by analysts at Deutsche Bank AG. They now have a $22.00 price target on the stock, down previously from $24.00.
  • 8/23/2017 – Cree was given a new $22.00 price target on by analysts at Cowen and Company. They now have a “hold” rating on the stock.
  • 8/23/2017 – Cree had its price target lowered by analysts at Bank of America Corporation from $28.00 to $26.00. They now have a “neutral” rating on the stock.
  • 8/22/2017 – Cree was given a new $29.00 price target on by analysts at Roth Capital. They now have a “buy” rating on the stock.
  • 7/28/2017 – Cree was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 7/18/2017 – Cree was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Cree, Inc. is a market-leading innovator and manufacturer of semiconductors that enhance the value of solid-state lighting, power and communications products by significantly increasing their energy performance and efficiency. Key to Cree’s market advantage is its world-class materials expertise in silicon carbide and gallium nitride for chips and packaged devices that can handle more power in a smaller space while producing less heat than other available technologies, materials and products. Cree drives its increased performance technology into multiple applications, including exciting alternatives in brighter and more-tunable light for general illumination, backlighting for more-vivid displays, optimized power management for high-current switch-mode power supplies and variable-speed motors, and more-effective wireless infrastructure for data and voice communications. Cree customers range from innovative lighting-fixtures makers to defense-related federal agencies. “

Cree, Inc. (NASDAQ CREE) traded up 1.76% during mid-day trading on Monday, hitting $24.27. 701,988 shares of the stock were exchanged. Cree, Inc. has a one year low of $20.50 and a one year high of $31.64. The company has a 50-day moving average price of $24.20 and a 200-day moving average price of $24.79. The company’s market cap is $2.37 billion.

Cree (NASDAQ:CREE) last released its earnings results on Tuesday, August 22nd. The LED producer reported $0.04 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.04. Cree had a negative net margin of 7.17% and a negative return on equity of 0.13%. The company had revenue of $359 million during the quarter, compared to analysts’ expectations of $349.82 million. During the same quarter last year, the business earned $0.19 EPS. The business’s revenue was down 7.6% on a year-over-year basis. Analysts forecast that Cree, Inc. will post $0.36 earnings per share for the current fiscal year.

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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