Cree Given Buy Rating at Sterne Agee (CREE)
Cree (NASDAQ:CREE)‘s stock had its “buy” rating reaffirmed by equities research analysts at Sterne Agee in a research note issued to investors on Tuesday, Stock Ratings Network.com reports. They currently have a $57.30 price target on the stock, down from their previous price target of $72.00.
Shares of Cree (NASDAQ:CREE) opened at 57.30 on Tuesday. Cree has a one year low of $24.50 and a one year high of $76.00. The stock’s 50-day moving average is $63.51 and its 200-day moving average is $59.31. The company has a market cap of $6.817 billion and a P/E ratio of 77.43.
Cree (NASDAQ:CREE) last released its earnings data on Tuesday, August 13th. The company reported $0.38 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.38. The company had revenue of $375.00 million for the quarter, compared to the consensus estimate of $377.21 million. During the same quarter in the prior year, the company posted $0.25 earnings per share. The company’s quarterly revenue was up 22.2% on a year-over-year basis. On average, analysts predict that Cree will post $1.75 earnings per share for the current fiscal year.
A number of other firms have also recently commented on CREE. Analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Cree (NASDAQ:CREE) in a research note to investors on Thursday, August 29th. Separately, analysts at Zacks downgraded shares of Cree (NASDAQ:CREE) from an “outperform” rating to a “neutral” rating in a research note to investors on Monday, August 19th. They now have a $70.60 price target on the stock. Finally, analysts at Lazard Capital Markets cut their price target on shares of Cree (NASDAQ:CREE) from $77.00 to $75.00 in a research note to investors on Wednesday, August 14th. They now have a “buy” rating on the stock.
One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and thirteen have given a buy rating to the company’s stock. Cree currently has an average rating of “Hold” and a consensus price target of $59.07.
Cree, Inc (NASDAQ:CREE) develops and manufactures semiconductor materials and devices primarily based on silicon carbide (SiC), gallium nitride (GaN) and related compounds.
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