Cree Upgraded to Strong-Buy by Tigress Financial (CREE)
Cree (NASDAQ:CREE) was upgraded by analysts at Tigress Financial from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday, TheFlyOnTheWall.com reports.
Cree (NASDAQ:CREE) traded up 5.13% on Tuesday, hitting $60.24. The stock had a trading volume of 2,483,667 shares. Cree has a 52 week low of $24.50 and a 52 week high of $76.00. The stock has a 50-day moving average of $63.51 and a 200-day moving average of $59.31. The company has a market cap of $7.167 billion and a P/E ratio of 77.43.
Cree (NASDAQ:CREE) last issued its quarterly earnings data on Tuesday, August 13th. The company reported $0.38 earnings per share for the quarter, meeting the analysts’ 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 last year, the company posted $0.25 earnings per share. Cree’s revenue was up 22.2% compared to the same quarter last year. Analysts expect that Cree will post $1.75 EPS for the current fiscal year.
A number of other firms have also recently commented on CREE. Analysts at Sterne Agee reiterated a “buy” rating on shares of Cree (NASDAQ:CREE) in a research note to investors on Tuesday. They now have a $57.30 price target on the stock, down previously from $72.00. Separately, 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. Finally, 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.
One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twelve 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 $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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