Royce & Associates LP raised its position in shares of Cree, Inc. (NASDAQ:CREE) by 6.8% during the second quarter, according to its most recent filing with the SEC. The fund owned 788,201 shares of the LED producer’s stock after buying an additional 50,500 shares during the period. Royce & Associates LP owned 0.81% of Cree worth $19,429,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. GAM Holding AG acquired a new position in shares of Cree during the second quarter worth about $104,000. Virginia Retirement Systems ET AL boosted its position in shares of Cree by 48.3% in the second quarter. Virginia Retirement Systems ET AL now owns 31,300 shares of the LED producer’s stock worth $772,000 after buying an additional 10,200 shares during the last quarter. BB&T Securities LLC boosted its position in shares of Cree by 30.8% in the second quarter. BB&T Securities LLC now owns 20,072 shares of the LED producer’s stock worth $494,000 after buying an additional 4,729 shares during the last quarter. BNP Paribas Arbitrage SA boosted its position in shares of Cree by 128.6% in the second quarter. BNP Paribas Arbitrage SA now owns 51,016 shares of the LED producer’s stock worth $1,258,000 after buying an additional 28,702 shares during the last quarter. Finally, Legal & General Group Plc boosted its position in shares of Cree by 9.8% in the second quarter. Legal & General Group Plc now owns 128,014 shares of the LED producer’s stock worth $3,155,000 after buying an additional 11,425 shares during the last quarter. 91.56% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Cree, Inc. (NASDAQ CREE) opened at 23.29 on Wednesday. Cree, Inc. has a one year low of $20.50 and a one year high of $31.64. The company’s 50 day moving average is $24.81 and its 200-day moving average is $24.97. The firm’s market capitalization is $2.27 billion.

Cree (NASDAQ:CREE) last released its quarterly earnings results on Tuesday, August 22nd. The LED producer reported $0.04 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.04. Cree had a negative net margin of 7.17% and a negative return on equity of 0.13%. The firm had revenue of $359 million during the quarter, compared to analyst estimates of $349.82 million. During the same quarter in the prior year, the firm earned $0.19 EPS. The business’s revenue for the quarter was down 7.6% compared to the same quarter last year. Equities analysts expect that Cree, Inc. will post $0.36 EPS for the current year.

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A number of equities analysts have issued reports on the stock. KeyCorp reaffirmed an “equal weight” rating and issued a $21.00 price objective on shares of Cree in a research note on Friday, August 25th. Bank of America Corporation reduced their price objective on shares of Cree from $28.00 to $26.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 23rd. Cowen and Company set a $22.00 price objective on shares of Cree and gave the company a “hold” rating in a research note on Wednesday, August 23rd. Deutsche Bank AG reaffirmed a “hold” rating and issued a $22.00 price objective (down from $24.00) on shares of Cree in a research note on Wednesday, August 23rd. Finally, Canaccord Genuity reaffirmed a “hold” rating and issued a $23.00 price objective on shares of Cree in a research note on Wednesday, August 23rd. Five investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $23.73.

Cree Company Profile

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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Institutional Ownership by Quarter for Cree (NASDAQ:CREE)

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