Deutsche Bank assumed coverage on shares of Cree (NASDAQ:CREE) in a research note issued on Monday, MarketBeat Ratings reports. The firm set a “hold” rating and a $47.00 price target on the LED producer’s stock. Deutsche Bank’s price target suggests a potential upside of 3.62% from the company’s current price.

Other research analysts also recently issued research reports about the company. Zacks Investment Research raised Cree from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a report on Monday, April 30th. ValuEngine downgraded Cree from a “buy” rating to a “hold” rating in a report on Tuesday, May 1st. BidaskClub raised Cree from a “buy” rating to a “strong-buy” rating in a report on Tuesday, May 8th. Roth Capital increased their target price on Cree from $39.00 to $45.00 and gave the stock a “neutral” rating in a report on Wednesday, June 27th. Finally, Nomura initiated coverage on Cree in a report on Wednesday, July 18th. They set a “neutral” rating and a $44.00 target price on the stock. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $43.25.

Shares of CREE opened at $45.36 on Monday. The stock has a market capitalization of $4.75 billion, a P/E ratio of -302.40 and a beta of 0.71. Cree has a one year low of $23.10 and a one year high of $51.78. The company has a quick ratio of 2.39, a current ratio of 3.58 and a debt-to-equity ratio of 0.14.

Cree (NASDAQ:CREE) last issued its quarterly earnings results on Tuesday, August 14th. The LED producer reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.03. The firm had revenue of $409.45 million during the quarter, compared to the consensus estimate of $399.69 million. Cree had a negative return on equity of 0.74% and a negative net margin of 18.74%. Cree’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.04 earnings per share. research analysts anticipate that Cree will post 0.14 EPS for the current year.

A number of large investors have recently added to or reduced their stakes in CREE. Smithfield Trust Co. bought a new stake in shares of Cree in the 2nd quarter worth approximately $119,000. Quantbot Technologies LP bought a new stake in shares of Cree in the 1st quarter worth approximately $193,000. Berkshire Asset Management LLC PA bought a new stake in shares of Cree in the 2nd quarter worth approximately $205,000. Zacks Investment Management bought a new stake in shares of Cree in the 2nd quarter worth approximately $210,000. Finally, Global X Management Co LLC bought a new stake in shares of Cree in the 2nd quarter worth approximately $269,000.

About Cree

Cree, Inc provides lighting-class light emitting diode (LED), lighting, and semiconductor products for power and radio-frequency (RF) applications in the United States, China, Europe, South Korea, Japan, Malaysia, Taiwan, and internationally. Its Lighting Products segment offers LED lighting systems and bulbs for use in settings, such as office and retail space, restaurants and hospitality, schools and universities, manufacturing, healthcare, airports, municipal, residential, street lighting and parking structures, and other applications.

Further Reading: What do investors mean by earnings per share?

Analyst Recommendations for Cree (NASDAQ:CREE)

Receive News & Ratings for Cree Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cree and related companies with MarketBeat.com's FREE daily email newsletter.