Shares of Cree, Inc. (NASDAQ:CREE) have been given a consensus rating of “Hold” by the twenty-one research firms that are presently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation, eight have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $46.36.
A number of research analysts have recently commented on the company. Canaccord Genuity set a $60.00 price target on Cree and gave the company a “buy” rating in a research report on Tuesday, August 14th. TheStreet cut Cree from a “b-” rating to a “c+” rating in a research report on Tuesday, September 11th. BidaskClub raised Cree from a “hold” rating to a “buy” rating in a research report on Wednesday, September 5th. Deutsche Bank assumed coverage on Cree in a research report on Monday, August 27th. They set a “hold” rating and a $47.00 price target on the stock. Finally, ValuEngine raised Cree from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 18th.
NASDAQ:CREE traded down $2.10 during trading on Monday, reaching $43.87. The company’s stock had a trading volume of 1,470,476 shares, compared to its average volume of 1,516,607. The company has a market capitalization of $4.71 billion, a PE ratio of -292.47 and a beta of 0.51. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.19 and a quick ratio of 3.15. Cree has a 12 month low of $30.78 and a 12 month high of $51.78.
Cree (NASDAQ:CREE) last announced its quarterly earnings data on Tuesday, October 16th. The LED producer reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.10. The firm had revenue of $408.28 million during the quarter, compared to the consensus estimate of $407.32 million. Cree had a negative return on equity of 0.10% and a negative net margin of 17.60%. The business’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.04 EPS. Sell-side analysts anticipate that Cree will post 0.33 earnings per share for the current year.
Institutional investors and hedge funds have recently modified their holdings of the stock. DekaBank Deutsche Girozentrale lifted its holdings in Cree by 183.3% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 2,408 shares of the LED producer’s stock worth $114,000 after purchasing an additional 1,558 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in Cree by 70.5% during the 3rd quarter. Tower Research Capital LLC TRC now owns 4,954 shares of the LED producer’s stock worth $188,000 after purchasing an additional 2,049 shares in the last quarter. Zacks Investment Management purchased a new stake in Cree during the 2nd quarter worth about $210,000. Global X Management Co LLC purchased a new stake in Cree during the 2nd quarter worth about $269,000. Finally, Cornerstone Wealth Management LLC purchased a new stake in Cree during the 3rd quarter worth about $350,000.
Cree Company 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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