A number of other equities analysts have also issued reports on the company. Williams Capital reissued a hold rating and issued a $38.00 price objective (up from $36.00) on shares of Cree in a report on Wednesday. Goldman Sachs Group raised Cree from a sell rating to a neutral rating and increased their price objective for the stock from $39.00 to $41.76 in a report on Wednesday. BidaskClub lowered Cree from a strong-buy rating to a buy rating in a report on Thursday, March 1st. JPMorgan Chase & Co. set a $28.00 price objective on Cree and gave the stock a sell rating in a report on Wednesday, February 7th. Finally, Zacks Investment Research lowered Cree from a hold rating to a sell rating in a report on Monday, January 29th. Four equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $33.17.
Shares of Cree (CREE) opened at $41.95 on Tuesday. The company has a current ratio of 4.59, a quick ratio of 3.48 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $4,190.00, a P/E ratio of -33.03 and a beta of 0.79. Cree has a 1 year low of $20.50 and a 1 year high of $43.23.
Hedge funds and other institutional investors have recently modified their holdings of the business. Icon Wealth Partners LLC bought a new position in Cree during the 4th quarter valued at $110,000. SeaCrest Wealth Management LLC bought a new position in Cree during the 4th quarter valued at $156,000. ETRADE Capital Management LLC bought a new position in Cree during the 3rd quarter valued at $208,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Cree by 41.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,721 shares of the LED producer’s stock valued at $212,000 after purchasing an additional 1,687 shares in the last quarter. Finally, Shelton Capital Management bought a new position in Cree during the 3rd quarter valued at $213,000. 98.94% of the stock is owned by hedge funds and other institutional investors.
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Cree Company Profile
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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