Cree Inc. (NASDAQ:CREE) has earned a consensus recommendation of “Hold” from the eighteen research firms that are presently covering the stock. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $35.60.
Several analysts have issued reports on CREE shares. Oppenheimer Holdings Inc. restated a “market perform” rating on shares of Cree in a research report on Thursday, August 18th. Cowen and Company restated a “hold” rating on shares of Cree in a research report on Sunday, July 17th. Deutsche Bank AG raised their price target on shares of Cree from $23.00 to $26.00 and gave the stock a “hold” rating in a research report on Friday, July 15th. Canaccord Genuity restated a “hold” rating and issued a $24.00 price target (up from $19.00) on shares of Cree in a research report on Sunday, July 17th. Finally, Zacks Investment Research upgraded shares of Cree from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 7th.
In other news, Director John B. Replogle purchased 5,000 shares of the business’s stock in a transaction that occurred on Thursday, August 18th. The stock was purchased at an average cost of $23.33 per share, with a total value of $116,650.00. Following the acquisition, the director now directly owns 35,123 shares of the company’s stock, valued at approximately $819,419.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.30% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Primecap Management Co. CA increased its position in shares of Cree by 0.3% in the first quarter. Primecap Management Co. CA now owns 9,357,041 shares of the LED producer’s stock valued at $272,290,000 after buying an additional 23,400 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Cree by 1.9% in the second quarter. Vanguard Group Inc. now owns 7,254,412 shares of the LED producer’s stock valued at $177,299,000 after buying an additional 138,520 shares in the last quarter. Fairpointe Capital LLC increased its position in shares of Cree by 8.8% in the second quarter. Fairpointe Capital LLC now owns 5,742,731 shares of the LED producer’s stock valued at $140,352,000 after buying an additional 463,800 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Cree by 44.6% in the second quarter. Dimensional Fund Advisors LP now owns 4,527,484 shares of the LED producer’s stock valued at $110,649,000 after buying an additional 1,395,760 shares in the last quarter. Finally, BlackRock Fund Advisors increased its position in shares of Cree by 3.1% in the second quarter. BlackRock Fund Advisors now owns 3,481,881 shares of the LED producer’s stock valued at $85,097,000 after buying an additional 106,194 shares in the last quarter. 83.26% of the stock is owned by hedge funds and other institutional investors.
Cree (NASDAQ:CREE) traded down 0.94% on Thursday, hitting $25.28. 548,674 shares of the stock traded hands. The stock’s market cap is $2.54 billion. Cree has a 12-month low of $22.10 and a 12-month high of $32.92. The stock has a 50-day moving average price of $24.80 and a 200 day moving average price of $25.47.
Cree (NASDAQ:CREE) last posted its quarterly earnings results on Tuesday, August 16th. The LED producer reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by $0.01. The company earned $388.40 million during the quarter, compared to analyst estimates of $385.83 million. Cree had a positive return on equity of 1.81% and a negative net margin of 1.25%. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.19) earnings per share. On average, equities analysts expect that Cree will post $0.56 EPS for the current fiscal year.
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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