A number of other analysts have also recently commented on CREE. Oppenheimer Holdings Inc. reiterated a market perform rating on shares of Cree in a research report on Thursday, August 18th. Cowen and Company reiterated a hold rating on shares of Cree in a research report on Sunday, July 17th. Deutsche Bank AG upped their price objective on Cree from $23.00 to $26.00 and gave the company a hold rating in a research report on Friday, July 15th. Zacks Investment Research upgraded Cree from a strong sell rating to a hold rating in a research report on Tuesday, June 7th. Finally, Needham & Company LLC reiterated a neutral rating on shares of Cree in a research report on Wednesday, August 17th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $33.36.
Shares of Cree (NASDAQ:CREE) opened at 25.52 on Friday. The firm has a 50 day moving average price of $24.80 and a 200 day moving average price of $25.47. Cree has a 12-month low of $22.10 and a 12-month high of $32.92. The stock’s market cap is $2.57 billion.
Cree (NASDAQ:CREE) last posted its quarterly earnings results on Tuesday, August 16th. The LED producer reported $0.19 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by $0.01. Cree had a positive return on equity of 1.81% and a negative net margin of 1.25%. The business earned $388.40 million during the quarter, compared to analysts’ expectations of $385.83 million. During the same quarter in the prior year, the firm earned ($0.19) EPS. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. On average, equities analysts expect that Cree will post $0.56 EPS for the current year.
In related news, Director John B. Replogle acquired 5,000 shares of the firm’s stock in a transaction on Thursday, August 18th. The shares were acquired at an average cost of $23.33 per share, for a total transaction of $116,650.00. Following the completion of the transaction, the director now directly owns 35,123 shares in the company, valued at approximately $819,419.59. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.30% of the company’s stock.
A number of large investors have recently modified their holdings of CREE. Pacer Advisors Inc. bought a new stake in shares of Cree during the second quarter worth about $143,000. LS Investment Advisors LLC increased its stake in shares of Cree by 68.6% in the second quarter. LS Investment Advisors LLC now owns 6,029 shares of the LED producer’s stock worth $147,000 after buying an additional 2,454 shares during the period. Clean Yield Group increased its stake in shares of Cree by 12.1% in the second quarter. Clean Yield Group now owns 6,500 shares of the LED producer’s stock worth $159,000 after buying an additional 700 shares during the period. Seven Eight Capital LLC increased its stake in shares of Cree by 17.6% in the second quarter. Seven Eight Capital LLC now owns 6,683 shares of the LED producer’s stock worth $163,000 after buying an additional 1,000 shares during the period. Finally, Advisor Group Inc. bought a new stake in shares of Cree during the second quarter worth about $175,000. Institutional investors and hedge funds own 83.26% of the company’s stock.
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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