Cree, Inc. (NASDAQ:CREE) Position Raised by Advisory Research Inc.

Advisory Research Inc. increased its position in shares of Cree, Inc. (NASDAQ:CREE) by 17.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,226 shares of the LED producer’s stock after purchasing an additional 1,391 shares during the period. Advisory Research Inc.’s holdings in Cree were worth $998,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Norges Bank acquired a new position in Cree in the fourth quarter worth approximately $294,455,000. Alliancebernstein L.P. grew its position in Cree by 19.7% in the first quarter. Alliancebernstein L.P. now owns 1,871,934 shares of the LED producer’s stock worth $202,412,000 after buying an additional 307,515 shares during the last quarter. Northern Trust Corp grew its position in Cree by 1.1% in the fourth quarter. Northern Trust Corp now owns 877,317 shares of the LED producer’s stock worth $92,908,000 after buying an additional 9,428 shares during the last quarter. Korea Investment CORP grew its position in Cree by 7.0% during the 4th quarter. Korea Investment CORP now owns 775,882 shares of the LED producer’s stock worth $82,166,000 after purchasing an additional 50,582 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in Cree by 122.3% during the 1st quarter. Principal Financial Group Inc. now owns 740,523 shares of the LED producer’s stock worth $80,072,000 after purchasing an additional 407,464 shares in the last quarter.

Shares of NASDAQ CREE opened at $98.50 on Friday. The firm has a 50 day simple moving average of $102.14. Cree, Inc. has a fifty-two week low of $56.39 and a fifty-two week high of $129.90. The firm has a market capitalization of $11.37 billion, a price-to-earnings ratio of -26.27 and a beta of 1.51. The company has a debt-to-equity ratio of 0.37, a current ratio of 4.18 and a quick ratio of 3.79.

Cree (NASDAQ:CREE) last issued its earnings results on Wednesday, April 28th. The LED producer reported ($0.22) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.31) by $0.09. Cree had a negative net margin of 60.56% and a negative return on equity of 6.87%. The firm had revenue of $137.30 million during the quarter, compared to the consensus estimate of $130.39 million. During the same quarter in the prior year, the firm earned ($0.17) earnings per share. The business’s quarterly revenue was up 20.5% on a year-over-year basis. Equities research analysts anticipate that Cree, Inc. will post -1.38 earnings per share for the current fiscal year.

Several equities analysts have weighed in on the stock. New Street Research assumed coverage on shares of Cree in a research report on Monday, March 29th. They set a “buy” rating and a $120.00 price objective on the stock. Wells Fargo & Company lifted their price objective on shares of Cree from $100.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 8th. Bank of America began coverage on shares of Cree in a research report on Monday, March 1st. They set a “buy” rating and a $140.00 price objective on the stock. Canaccord Genuity lifted their target price on shares of Cree from $120.00 to $126.00 and gave the company a “buy” rating in a research note on Thursday, April 29th. Finally, JPMorgan Chase & Co. raised shares of Cree from an “underweight” rating to a “neutral” rating in a research note on Monday, May 10th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $115.46.

Cree Company Profile

Cree, Inc provides lighting-class light emitting diode (LED) and semiconductor products for power and radio-frequency (RF) applications in the United States, China, Europe, and internationally. It operates in two segments, Wolfspeed and LED Products. The Wolfspeed segment offers silicon carbide (SiC) materials for RF, power switching, gemstones, and other applications.

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Institutional Ownership by Quarter for Cree (NASDAQ:CREE)

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