Ardsley Advisory Partners lifted its stake in shares of Cree, Inc. (NASDAQ:CREE) by 25.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 135,000 shares of the LED producer’s stock after purchasing an additional 27,500 shares during the period. Ardsley Advisory Partners’ holdings in Cree were worth $5,014,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Icon Wealth Partners LLC acquired a new stake in shares of Cree during the fourth quarter worth $110,000. SeaCrest Wealth Management LLC acquired a new position in Cree during the fourth quarter valued at $156,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Cree by 41.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,721 shares of the LED producer’s stock valued at $212,000 after buying an additional 1,687 shares during the period. M&T Bank Corp acquired a new position in Cree during the fourth quarter valued at $237,000. Finally, ETRADE Capital Management LLC acquired a new position in Cree during the third quarter valued at $208,000. 98.94% of the stock is currently owned by institutional investors.
Cree, Inc. (CREE) opened at $41.95 on Monday. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.59 and a quick ratio of 3.48. Cree, Inc. has a 52-week low of $20.50 and a 52-week high of $43.23. The firm has a market capitalization of $4,190.30, a PE ratio of -36.80 and a beta of 0.79.
Several research analysts recently weighed in on CREE shares. Zacks Investment Research lowered Cree from a “hold” rating to a “sell” rating in a research report on Monday, January 29th. Deutsche Bank set a $45.00 price target on Cree and gave the company a “buy” rating in a research report on Wednesday, January 24th. Goldman Sachs Group raised Cree from a “sell” rating to a “neutral” rating and upped their price target for the company from $39.00 to $41.76 in a research report on Wednesday, March 7th. KeyCorp reissued a “hold” rating on shares of Cree in a research report on Monday, December 11th. Finally, BidaskClub raised Cree from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 17th. Four research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $33.17.
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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