Cree, Inc. (CREE) Shares Bought by Northwestern Mutual Investment Management Company LLC
Northwestern Mutual Investment Management Company LLC lifted its position in shares of Cree, Inc. (NASDAQ:CREE) by 3.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,339 shares of the LED producer’s stock after purchasing an additional 553 shares during the period. Northwestern Mutual Investment Management Company LLC’s holdings in Cree were worth $424,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. GAM Holding AG acquired a new stake in shares of Cree during the second quarter worth about $104,000. Strs Ohio acquired a new stake in shares of Cree during the second quarter worth about $140,000. LS Investment Advisors LLC increased its position in shares of Cree by 17.9% during the second quarter. LS Investment Advisors LLC now owns 7,643 shares of the LED producer’s stock worth $188,000 after purchasing an additional 1,160 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in shares of Cree during the first quarter worth about $249,000. Finally, Wrapmanager Inc. increased its position in shares of Cree by 3.3% during the second quarter. Wrapmanager Inc. now owns 11,081 shares of the LED producer’s stock worth $273,000 after purchasing an additional 354 shares in the last quarter. Institutional investors and hedge funds own 91.19% of the company’s stock.
Shares of Cree, Inc. (NASDAQ CREE) opened at 24.59 on Friday. The stock’s market cap is $2.40 billion. Cree, Inc. has a one year low of $20.50 and a one year high of $31.64. The firm has a 50-day moving average price of $23.98 and a 200-day moving average price of $24.72.
Cree (NASDAQ:CREE) last announced its quarterly earnings results on Tuesday, August 22nd. The LED producer reported $0.04 EPS for the quarter, meeting the consensus estimate of $0.04. Cree had a negative net margin of 7.17% and a negative return on equity of 0.13%. The company had revenue of $359.00 million for the quarter, compared to analyst estimates of $349.82 million. During the same quarter last year, the business earned $0.19 earnings per share. Cree’s revenue was down 7.6% compared to the same quarter last year. Analysts anticipate that Cree, Inc. will post $0.36 earnings per share for the current fiscal year.
A number of analysts have recently commented on the company. Zacks Investment Research upgraded Cree from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 27th. JMP Securities upgraded Cree from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $23.81 to $29.00 in a research report on Monday, May 22nd. KeyCorp reiterated an “equal weight” rating and set a $21.00 target price on shares of Cree in a research report on Friday, August 25th. Cowen and Company set a $22.00 target price on Cree and gave the stock a “hold” rating in a research report on Wednesday, August 23rd. Finally, J P Morgan Chase & Co reiterated a “neutral” rating and set a $26.00 target price (up previously from $25.00) on shares of Cree in a research report on Monday, June 5th. Five analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company. Cree currently has a consensus rating of “Hold” and a consensus price target of $23.73.
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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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