Cree Inc. (NASDAQ:CREE) Receives $35.60 Average PT from Analysts
Cree Inc. (NASDAQ:CREE) has received an average rating of “Hold” from the nineteen research firms that are presently covering the company. Three analysts have rated the stock with a sell recommendation, twelve have issued a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $34.45.
A number of analysts have commented on CREE shares. Oppenheimer Holdings Inc. restated a “market perform” rating on shares of Cree in a research note on Thursday, August 18th. Cowen and Company reiterated a “hold” rating on shares of Cree in a research note on Sunday, July 17th. Deutsche Bank AG upped their target price on shares of Cree from $23.00 to $26.00 and gave the stock a “hold” rating in a research note on Friday, July 15th. Canaccord Genuity reiterated a “hold” rating and issued a $24.00 target price (up previously from $19.00) on shares of Cree in a research note on Sunday, July 17th. Finally, Zacks Investment Research upgraded shares of Cree from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 7th.
Cree (NASDAQ:CREE) opened at 25.53 on Thursday. The company’s market capitalization is $2.57 billion. Cree has a 52-week low of $22.10 and a 52-week high of $32.92. The company’s 50-day moving average is $24.61 and its 200-day moving average is $25.36.
Cree (NASDAQ:CREE) last announced its quarterly earnings results on Tuesday, August 16th. The LED producer reported $0.19 EPS for the quarter, missing the Zacks’ consensus estimate of $0.20 by $0.01. The business had revenue of $388.40 million for the quarter, compared to the consensus estimate of $385.83 million. Cree had a negative net margin of 1.25% and a positive return on equity of 1.81%. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.19) EPS. On average, analysts expect that Cree will post $0.56 earnings per share for the current fiscal year.
In other Cree news, Director John B. Replogle acquired 5,000 shares of the company’s stock in a transaction on Thursday, August 18th. The shares were acquired at an average cost of $23.33 per share, with a total value of $116,650.00. Following the completion of the acquisition, the director now directly owns 35,123 shares in the company, valued at $819,419.59. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.30% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. Pacer Advisors Inc. acquired a new stake in Cree during the second quarter valued at approximately $143,000. LS Investment Advisors LLC increased its stake in Cree by 68.6% in the second quarter. LS Investment Advisors LLC now owns 6,029 shares of the LED producer’s stock valued at $147,000 after buying an additional 2,454 shares during the period. Clean Yield Group increased its stake in Cree by 12.1% in the second quarter. Clean Yield Group now owns 6,500 shares of the LED producer’s stock valued at $159,000 after buying an additional 700 shares during the period. Seven Eight Capital LLC increased its stake in Cree by 17.6% in the second quarter. Seven Eight Capital LLC now owns 6,683 shares of the LED producer’s stock valued at $163,000 after buying an additional 1,000 shares during the period. Finally, Advisor Group Inc. acquired a new stake in Cree during the second quarter valued at approximately $175,000. 83.26% of the stock is currently owned by institutional investors and hedge funds.
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.
Receive News & Stock Ratings for Cree Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cree Inc. and related stocks with our FREE daily email newsletter.