Cree, Inc. (NASDAQ:CREE) was downgraded by Williams Capital from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday. They currently have a $27.00 price target on the LED producer’s stock. Williams Capital’s target price indicates a potential downside of 20.24% from the company’s current price.

Other equities research analysts have also issued reports about the stock. BidaskClub raised shares of Cree from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. Roth Capital set a $29.00 price target on shares of Cree and gave the company a “buy” rating in a report on Tuesday, August 22nd. JMP Securities set a $41.00 price target on shares of Cree and gave the company a “buy” rating in a report on Wednesday. TheStreet raised shares of Cree from a “d+” rating to a “c-” rating in a report on Wednesday, September 27th. Finally, KeyCorp reaffirmed an “equal weight” rating and set a $21.00 price target on shares of Cree in a report on Friday, August 25th. Seven analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company’s stock. Cree presently has an average rating of “Hold” and an average target price of $25.73.

Shares of Cree (CREE) opened at 33.85 on Thursday. The stock’s 50 day moving average is $27.41 and its 200 day moving average is $25.02. Cree has a 1-year low of $20.50 and a 1-year high of $35.46. The company’s market capitalization is $3.31 billion.

Cree (NASDAQ:CREE) last announced its quarterly earnings results on Tuesday, October 17th. The LED producer reported $0.04 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.04. The company had revenue of $360.00 million for the quarter, compared to analyst estimates of $360.01 million. Cree had a negative net margin of 8.42% and a negative return on equity of 0.44%. The firm’s revenue was down 3.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.09 EPS. On average, equities research analysts anticipate that Cree will post $0.13 EPS for the current fiscal year.

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Institutional investors and hedge funds have recently bought and sold shares of the business. GAM Holding AG bought a new stake in Cree during the 2nd quarter worth approximately $104,000. Riverhead Capital Management LLC grew its holdings in Cree by 75.0% during the 2nd quarter. Riverhead Capital Management LLC now owns 5,426 shares of the LED producer’s stock worth $134,000 after acquiring an additional 2,326 shares during the last quarter. Strs Ohio bought a new stake in Cree during the 2nd quarter worth approximately $140,000. LS Investment Advisors LLC grew its holdings in Cree by 17.9% during the 2nd quarter. LS Investment Advisors LLC now owns 7,643 shares of the LED producer’s stock worth $188,000 after acquiring an additional 1,160 shares during the last quarter. Finally, Advisor Group Inc. grew its holdings in Cree by 11.5% during the 2nd quarter. Advisor Group Inc. now owns 8,175 shares of the LED producer’s stock worth $197,000 after acquiring an additional 846 shares during the last quarter. 91.16% of the stock is currently owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Cree (NASDAQ:CREE)

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