Cree (CREE) Given a $37.00 Price Target by Cowen Analysts

Cowen set a $37.00 price objective on Cree (NASDAQ:CREE) in a report issued on Tuesday morning. The firm currently has a hold rating on the LED producer’s stock.

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.

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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.

Cree (NASDAQ:CREE) last issued its quarterly earnings data on Tuesday, January 23rd. The LED producer reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.02). Cree had a negative return on equity of 1.24% and a negative net margin of 7.77%. The business had revenue of $367.87 million during the quarter, compared to the consensus estimate of $349.62 million. During the same period last year, the company earned $0.30 earnings per share. The business’s quarterly revenue was down 8.3% compared to the same quarter last year. research analysts predict that Cree will post -0.37 earnings per share for the current fiscal year.

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.

Analyst Recommendations for Cree (NASDAQ:CREE)

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