Nomura Analysts Give Cree (CREE) a $40.00 Price Target

Share on StockTwits

Nomura set a $40.00 target price on Cree (NASDAQ:CREE) in a research report released on Wednesday morning, MarketBeat.com reports. The brokerage currently has a hold rating on the LED producer’s stock.

CREE has been the subject of several other reports. BidaskClub downgraded shares of Cree from a hold rating to a sell rating in a research note on Thursday, September 20th. TheStreet downgraded shares of Cree from a b- rating to a c+ rating in a research note on Tuesday, September 11th. Canaccord Genuity assumed coverage on shares of Cree in a research note on Friday, August 3rd. They set a buy rating and a $61.00 price objective for the company. Cowen set a $38.00 price objective on shares of Cree and gave the company a hold rating in a research note on Thursday, October 11th. Finally, ValuEngine downgraded shares of Cree from a buy rating to a hold rating in a research note on Thursday, August 2nd. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the company’s stock. Cree presently has a consensus rating of Hold and a consensus target price of $44.05.

Shares of NASDAQ:CREE traded down $1.98 during midday trading on Wednesday, hitting $35.68. 1,972,352 shares of the stock traded hands, compared to its average volume of 2,327,788. The company has a market cap of $3.86 billion, a price-to-earnings ratio of -237.87 and a beta of 0.54. The company has a current ratio of 4.19, a quick ratio of 2.39 and a debt-to-equity ratio of 0.21. Cree has a one year low of $30.78 and a one year high of $51.78.

Cree (NASDAQ:CREE) last issued its quarterly earnings data on Tuesday, October 16th. The LED producer reported $0.22 EPS for the quarter, beating the consensus estimate 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 net margin of 17.60% and a negative return on equity of 0.10%. The company’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.04 earnings per share. As a group, research analysts forecast that Cree will post 0.13 EPS for the current fiscal year.

In related news, EVP David Todd Emerson sold 22,500 shares of the business’s stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $45.84, for a total transaction of $1,031,400.00. Following the transaction, the executive vice president now owns 159,097 shares in the company, valued at $7,293,006.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.55% of the stock is owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. D L Carlson Investment Group Inc. grew its holdings in Cree by 18.2% in the second quarter. D L Carlson Investment Group Inc. now owns 197,385 shares of the LED producer’s stock worth $8,205,000 after purchasing an additional 30,375 shares during the period. Raymond James & Associates lifted its stake in shares of Cree by 21.7% in the second quarter. Raymond James & Associates now owns 575,303 shares of the LED producer’s stock worth $23,915,000 after buying an additional 102,570 shares in the last quarter. Bank of America Corp DE lifted its position in Cree by 4.9% during the second quarter. Bank of America Corp DE now owns 657,152 shares of the LED producer’s stock valued at $27,317,000 after purchasing an additional 30,988 shares during the period. Metropolitan Life Insurance Co. NY lifted its position in Cree by 3.5% during the second quarter. Metropolitan Life Insurance Co. NY now owns 58,613 shares of the LED producer’s stock valued at $2,437,000 after purchasing an additional 1,979 shares during the period. Finally, Zacks Investment Management bought a new position in Cree during the second quarter valued at approximately $210,000.

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.

Recommended Story: Calculate Your Return on Investment (ROI)

Analyst Recommendations for Cree (NASDAQ:CREE)

Receive News & Ratings for Cree Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cree and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Sierra Metals  Upgraded to Hold at Zacks Investment Research
Sierra Metals Upgraded to Hold at Zacks Investment Research
JPMorgan Chase & Co.  Earning Somewhat Favorable Press Coverage, Analysis Shows
JPMorgan Chase & Co. Earning Somewhat Favorable Press Coverage, Analysis Shows
Versum Materials  Lowered to “Sell” at Goldman Sachs Group
Versum Materials Lowered to “Sell” at Goldman Sachs Group
Total  Upgraded by Bank of America to Buy
Total Upgraded by Bank of America to Buy
Royal Bank of Canada  Given Buy Rating at Desjardins
Royal Bank of Canada Given Buy Rating at Desjardins
PPL  Upgraded to “Buy” by Zacks Investment Research
PPL Upgraded to “Buy” by Zacks Investment Research


© 2006-2018 Ticker Report