Cree, Inc. (NASDAQ:CREE) released its quarterly earnings data on Tuesday. The LED producer reported $0.04 earnings per share for the quarter, hitting the consensus estimate of $0.04, RTT News reports. The business had revenue of $360.00 million during the quarter, compared to analysts’ expectations of $360.01 million. Cree had a negative return on equity of 0.13% and a negative net margin of 7.17%. The business’s revenue was down 3.0% on a year-over-year basis. During the same quarter last year, the business posted $0.09 EPS. Cree updated its Q2 guidance to ($0.01)-$0.04 EPS.

Cree (NASDAQ:CREE) traded up 0.20% during mid-day trading on Tuesday, hitting $29.34. The company’s stock had a trading volume of 2,047,611 shares. Cree has a 12-month low of $20.50 and a 12-month high of $31.64. The firm’s 50-day moving average is $26.28 and its 200-day moving average is $24.80. The company’s market cap is $2.86 billion.

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A number of research analysts have recently commented on CREE shares. ValuEngine upgraded Cree from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Roth Capital restated a “buy” rating and issued a $29.00 target price (up previously from $27.00) on shares of Cree in a research note on Tuesday, June 20th. Bank of America Corporation lowered their target price on Cree from $28.00 to $26.00 and set a “neutral” rating for the company in a research note on Wednesday, August 23rd. BidaskClub upgraded Cree from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Finally, Canaccord Genuity restated a “hold” rating and issued a $23.00 target price on shares of Cree in a research note on Wednesday, August 23rd. Six investment analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company’s stock. Cree currently has a consensus rating of “Hold” and a consensus target price of $24.04.

About Cree

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.

Earnings History for Cree (NASDAQ:CREE)

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