Analysts expect that Cree, Inc. (NASDAQ:CREE) will announce ($0.10) earnings per share (EPS) for the current quarter, according to Zacks. Five analysts have provided estimates for Cree’s earnings, with the highest EPS estimate coming in at ($0.09) and the lowest estimate coming in at ($0.11). Cree posted earnings per share of $0.23 in the same quarter last year, which would indicate a negative year over year growth rate of 143.5%. The company is scheduled to issue its next quarterly earnings report on Wednesday, January 29th.

According to Zacks, analysts expect that Cree will report full-year earnings of ($0.25) per share for the current year, with EPS estimates ranging from ($0.39) to ($0.07). For the next financial year, analysts expect that the business will post earnings of $0.50 per share, with EPS estimates ranging from ($0.03) to $0.95. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that follow Cree.

Cree (NASDAQ:CREE) last posted its earnings results on Wednesday, October 30th. The LED producer reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.02. Cree had a negative net margin of 34.02% and a negative return on equity of 0.20%. The business had revenue of $242.80 million for the quarter, compared to the consensus estimate of $239.48 million. During the same quarter last year, the firm posted $0.22 EPS. The company’s revenue for the quarter was down 11.5% on a year-over-year basis.

A number of equities analysts have issued reports on the stock. Charter Equity assumed coverage on shares of Cree in a research report on Friday, January 10th. They set a “buy” rating for the company. Canaccord Genuity reissued a “buy” rating and issued a $57.00 price target on shares of Cree in a report on Thursday, November 21st. Wells Fargo & Co assumed coverage on shares of Cree in a report on Friday, October 11th. They issued a “market perform” rating and a $50.00 price target for the company. JPMorgan Chase & Co. cut shares of Cree from a “neutral” rating to an “underweight” rating and lowered their target price for the stock from $43.00 to $40.00 in a research note on Thursday, October 31st. Finally, Zacks Investment Research raised shares of Cree from a “sell” rating to a “hold” rating and set a $51.00 target price on the stock in a research note on Thursday, December 19th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $52.90.

In other Cree news, Director Duy Loan T. Le purchased 2,000 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were purchased at an average cost of $45.87 per share, with a total value of $91,740.00. Following the purchase, the director now owns 13,659 shares in the company, valued at $626,538.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.36% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Nuveen Asset Management LLC purchased a new stake in shares of Cree during the 2nd quarter valued at about $134,889,000. Invesco Ltd. increased its holdings in Cree by 566.5% during the 2nd quarter. Invesco Ltd. now owns 1,816,237 shares of the LED producer’s stock worth $102,036,000 after purchasing an additional 1,543,719 shares during the last quarter. Whale Rock Capital Management LLC purchased a new stake in Cree during the 2nd quarter worth approximately $51,222,000. Victory Capital Management Inc. bought a new stake in shares of Cree in the 2nd quarter valued at approximately $44,724,000. Finally, Renaissance Technologies LLC bought a new stake in shares of Cree in the 2nd quarter valued at approximately $27,036,000. 97.53% of the stock is currently owned by institutional investors and hedge funds.

CREE stock traded up $0.15 during trading on Friday, reaching $52.36. The company had a trading volume of 1,532,414 shares, compared to its average volume of 1,005,527. The firm has a 50-day simple moving average of $46.60 and a 200-day simple moving average of $50.36. The company has a market cap of $5.62 billion, a price-to-earnings ratio of -13.67 and a beta of 0.86. The company has a debt-to-equity ratio of 0.23, a quick ratio of 4.82 and a current ratio of 5.57. Cree has a twelve month low of $40.46 and a twelve month high of $69.21.

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. It operates in three segments: Wolfspeed, LED Products, and Lighting Products.

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