Cray Inc. (CRAY) Upgraded by Zacks Investment Research to “Hold”
According to Zacks, “Cray Inc., formerly Tera Computer Company, designs, builds and sells high-performance vector processor and general-purpose parallel computer systems. The company has leading edge technology, multiple product platforms, annual revenues, nearly 900 employees, major manufacturing and service capabilities, and extensive global customer relationships. (PRESS RELEASE) “
Several other analysts have also recently weighed in on the stock. KeyCorp reduced their price objective on shares of Cray from $41.00 to $35.00 and set an overweight rating on the stock in a research note on Wednesday, August 3rd. Stifel Nicolaus reduced their price objective on shares of Cray from $49.00 to $40.00 and set a buy rating on the stock in a research note on Wednesday, August 3rd. Finally, Pacific Crest began coverage on shares of Cray in a report on Thursday, July 28th. They issued an overweight rating and a $41.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Cray has a consensus rating of Buy and an average price target of $39.43.
Cray (NASDAQ:CRAY) opened at 23.24 on Tuesday. The stock has a 50 day moving average price of $23.07 and a 200 day moving average price of $30.79. The company has a market cap of $925.21 million, a PE ratio of 73.78 and a beta of 1.39. Cray has a one year low of $20.27 and a one year high of $43.79.
Cray (NASDAQ:CRAY) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.23) by $0.06. Cray had a return on equity of 5.72% and a net margin of 1.96%. The business earned $100.20 million during the quarter, compared to the consensus estimate of $101.36 million. During the same period in the prior year, the firm earned $0.30 EPS. The business’s revenue for the quarter was down 46.2% compared to the same quarter last year. On average, equities analysts anticipate that Cray will post $0.45 EPS for the current fiscal year.
In related news, SVP Michael Charles Piraino sold 15,000 shares of the company’s stock in a transaction dated Tuesday, August 16th. The shares were sold at an average price of $21.97, for a total value of $329,550.00. Following the sale, the senior vice president now owns 63,937 shares in the company, valued at approximately $1,404,695.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 5.00% of the stock is currently owned by corporate insiders.
Several large investors have recently bought and sold shares of CRAY. BlackRock Fund Advisors raised its stake in Cray by 145.6% in the first quarter. BlackRock Fund Advisors now owns 2,520,569 shares of the company’s stock worth $105,637,000 after buying an additional 1,494,255 shares in the last quarter. Amerigo Asset Management acquired a new stake in Cray during the second quarter worth $24,099,000. Mairs & Power INC raised its stake in Cray by 37.8% in the second quarter. Mairs & Power INC now owns 2,857,936 shares of the company’s stock worth $85,509,000 after buying an additional 784,327 shares in the last quarter. Teachers Advisors Inc. raised its stake in Cray by 443.1% in the first quarter. Teachers Advisors Inc. now owns 512,147 shares of the company’s stock worth $21,464,000 after buying an additional 417,852 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in Cray by 10.9% in the second quarter. Vanguard Group Inc. now owns 3,425,757 shares of the company’s stock worth $102,499,000 after buying an additional 335,595 shares in the last quarter. Institutional investors own 92.65% of the company’s stock.
Cray Inc designs, develops, manufactures, markets and services the high-end of the high performance computing (HPC) market, primarily categories of systems, known as supercomputers and provides storage and data analytics solutions. The Company provides software, system maintenance, support services and engineering services related to supercomputer systems.
Receive News & Stock Ratings for Cray Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cray Inc. and related stocks with our FREE daily email newsletter.