Cree, Inc. (NASDAQ:CREE) has been given a consensus rating of “Hold” by the sixteen ratings firms that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, nine have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $58.67.
CREE has been the subject of a number of research analyst reports. Oppenheimer cut shares of Cree from an “outperform” rating to a “market perform” rating and increased their price objective for the stock from $58.00 to $64.78 in a research report on Thursday, May 2nd. Canaccord Genuity reaffirmed a “buy” rating and set a $78.00 price objective (down previously from $81.00) on shares of Cree in a research report on Thursday, May 2nd. Roth Capital lowered their price objective on shares of Cree from $73.00 to $67.00 and set a “buy” rating for the company in a research report on Thursday, June 13th. BMO Capital Markets cut shares of Cree from an “outperform” rating to a “market perform” rating and set a $55.00 price objective for the company. in a research report on Monday, June 3rd. Finally, JMP Securities increased their price objective on shares of Cree from $71.00 to $81.00 and gave the stock a “market outperform” rating in a research report on Monday, June 17th.
Shares of NASDAQ:CREE traded up $1.61 during mid-day trading on Friday, reaching $58.80. 744,200 shares of the company were exchanged, compared to its average volume of 1,026,650. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.48 and a quick ratio of 3.97. The firm has a market cap of $6.19 billion, a price-to-earnings ratio of -392.00, a P/E/G ratio of 6.00 and a beta of 0.78. The firm’s 50-day simple moving average is $59.52 and its 200 day simple moving average is $58.52. Cree has a 1 year low of $33.72 and a 1 year high of $69.21.
In other Cree news, Director Duy Loan T. Le purchased 2,000 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was bought at an average price of $60.07 per share, with a total value of $120,140.00. Following the transaction, the director now directly owns 8,442 shares of the company’s stock, valued at approximately $507,110.94. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.55% of the company’s stock.
Hedge funds have recently modified their holdings of the business. FMR LLC boosted its position in Cree by 9.0% in the 1st quarter. FMR LLC now owns 3,220,440 shares of the LED producer’s stock valued at $184,274,000 after buying an additional 265,776 shares during the period. Jennison Associates LLC purchased a new stake in shares of Cree during the 1st quarter worth $233,000. FNY Investment Advisers LLC lifted its position in shares of Cree by 92.0% during the 2nd quarter. FNY Investment Advisers LLC now owns 1,440 shares of the LED producer’s stock worth $80,000 after purchasing an additional 690 shares during the last quarter. Piedmont Investment Advisors Inc. purchased a new stake in shares of Cree during the 1st quarter worth $337,000. Finally, Hodges Capital Management Inc. purchased a new stake in shares of Cree during the 1st quarter worth $14,090,000.
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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