Eqis Capital Management Inc. raised its position in shares of Cree, Inc. (NASDAQ:CREE) by 3.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,550 shares of the LED producer’s stock after acquiring an additional 191 shares during the period. Eqis Capital Management Inc.’s holdings in Cree were worth $417,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of CREE. Jupiter Asset Management Ltd. increased its position in shares of Cree by 189.0% during the 3rd quarter. Jupiter Asset Management Ltd. now owns 65,186 shares of the LED producer’s stock valued at $4,150,000 after purchasing an additional 42,630 shares during the last quarter. National Asset Management Inc. increased its position in shares of Cree by 29.3% during the 3rd quarter. National Asset Management Inc. now owns 6,008 shares of the LED producer’s stock valued at $379,000 after purchasing an additional 1,361 shares during the last quarter. LPL Financial LLC increased its position in shares of Cree by 6.8% during the 3rd quarter. LPL Financial LLC now owns 101,974 shares of the LED producer’s stock valued at $6,500,000 after purchasing an additional 6,476 shares during the last quarter. Swiss National Bank increased its position in shares of Cree by 1.6% during the 3rd quarter. Swiss National Bank now owns 245,141 shares of the LED producer’s stock valued at $15,625,000 after purchasing an additional 3,900 shares during the last quarter. Finally, Kestra Private Wealth Services LLC bought a new position in shares of Cree during the 3rd quarter valued at approximately $722,000.

CREE opened at $82.10 on Friday. Cree, Inc. has a 12-month low of $27.77 and a 12-month high of $84.79. The company has a current ratio of 4.33, a quick ratio of 3.78 and a debt-to-equity ratio of 0.42. The business’s fifty day simple moving average is $68.94 and its 200-day simple moving average is $62.50. The company has a market capitalization of $9.06 billion, a price-to-earnings ratio of -26.48 and a beta of 1.16.

Cree (NASDAQ:CREE) last posted its quarterly earnings results on Wednesday, October 28th. The LED producer reported ($0.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.02. Cree had a negative return on equity of 5.94% and a negative net margin of 38.54%. During the same quarter in the prior year, the business posted ($0.03) EPS. On average, equities research analysts predict that Cree, Inc. will post -1.28 EPS for the current year.

In related news, Director John B. Replogle sold 4,000 shares of the company’s stock in a transaction on Friday, November 13th. The stock was sold at an average price of $70.59, for a total transaction of $282,360.00. Following the completion of the sale, the director now directly owns 67,170 shares in the company, valued at approximately $4,741,530.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John B. Replogle sold 15,000 shares of the company’s stock in a transaction on Friday, October 30th. The stock was sold at an average price of $62.86, for a total value of $942,900.00. Following the sale, the director now owns 70,670 shares of the company’s stock, valued at $4,442,316.20. The disclosure for this sale can be found here. Corporate insiders own 0.43% of the company’s stock.

Several equities analysts have commented on the company. Charter Equity reaffirmed a “market perform” rating on shares of Cree in a research report on Monday, October 26th. JPMorgan Chase & Co. raised Cree from a “neutral” rating to an “overweight” rating and set a $90.00 price objective on the stock in a research report on Thursday. Canaccord Genuity upped their price objective on Cree from $79.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, October 29th. Deutsche Bank Aktiengesellschaft upped their price objective on Cree from $45.00 to $60.00 and gave the company a “hold” rating in a research report on Monday, August 17th. Finally, Piper Sandler cut their price objective on Cree from $73.00 to $68.00 and set a “neutral” rating on the stock in a research report on Thursday, October 29th. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $70.73.

Cree Company Profile

Cree, Inc provides lighting-class light emitting diode (LED) and semiconductor products for power and radio-frequency (RF) applications in the United States, China, Europe, and internationally. It operates in two segments, Wolfspeed and LED Products. The Wolfspeed segment offers silicon carbide (SiC) materials for RF, power switching, gemstones, and other applications.

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Institutional Ownership by Quarter for Cree (NASDAQ:CREE)

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