Cree, Inc. (CREE) Given Average Recommendation of “Hold” by Brokerages

Cree, Inc. (NASDAQ:CREE) has been given an average rating of “Hold” by the nineteen research firms that are currently covering the firm, MarketBeat Ratings reports. Seven research analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and three have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $28.04.

CREE has been the topic of a number of recent research reports. Bank of America boosted their target price on Cree from $31.00 to $32.00 and gave the company a “neutral” rating in a research note on Wednesday, October 18th. J P Morgan Chase & Co downgraded Cree from a “neutral” rating to an “underweight” rating and boosted their target price for the company from $23.00 to $28.00 in a research note on Friday, October 6th. Williams Capital downgraded Cree from a “hold” rating to a “sell” rating and set a $27.00 target price on the stock. in a research note on Thursday, October 19th. Zacks Investment Research upgraded Cree from a “sell” rating to a “hold” rating in a research note on Friday, November 17th. Finally, Deutsche Bank upgraded Cree from a “hold” rating to a “buy” rating and boosted their target price for the company from $26.00 to $45.00 in a research note on Monday, November 6th.

Several large investors have recently made changes to their positions in the business. BlackRock Inc. lifted its position in shares of Cree by 26.8% in the second quarter. BlackRock Inc. now owns 10,245,032 shares of the LED producer’s stock worth $252,541,000 after buying an additional 2,164,847 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Cree by 3.0% in the second quarter. Vanguard Group Inc. now owns 8,226,854 shares of the LED producer’s stock worth $202,792,000 after buying an additional 236,090 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Cree by 5.6% in the third quarter. Dimensional Fund Advisors LP now owns 8,220,052 shares of the LED producer’s stock worth $231,723,000 after buying an additional 435,401 shares during the last quarter. Fairpointe Capital LLC lifted its position in shares of Cree by 8.8% in the second quarter. Fairpointe Capital LLC now owns 6,070,231 shares of the LED producer’s stock worth $149,631,000 after buying an additional 492,465 shares during the last quarter. Finally, State Street Corp lifted its position in shares of Cree by 24.2% in the second quarter. State Street Corp now owns 3,688,186 shares of the LED producer’s stock worth $90,915,000 after buying an additional 717,698 shares during the last quarter. 98.96% of the stock is owned by institutional investors.

Shares of Cree (CREE) traded up $1.09 during mid-day trading on Monday, hitting $39.13. The stock had a trading volume of 2,848,700 shares, compared to its average volume of 1,381,156. Cree has a twelve month low of $20.50 and a twelve month high of $39.43. The company has a current ratio of 4.82, a quick ratio of 3.61 and a debt-to-equity ratio of 0.06.

Cree (NASDAQ:CREE) last issued its quarterly earnings results on Tuesday, October 17th. The LED producer reported $0.04 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.04. Cree had a negative return on equity of 0.44% and a negative net margin of 8.42%. The business had revenue of $360.00 million for the quarter, compared to the consensus estimate of $360.01 million. During the same quarter in the previous year, the company posted $0.09 earnings per share. Cree’s revenue for the quarter was down 3.0% compared to the same quarter last year. equities research analysts anticipate that Cree will post -0.27 EPS for the current year.

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About Cree

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.

Analyst Recommendations for Cree (NASDAQ:CREE)

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