Cree Target of Unusually Large Options Trading (CREE)
Cree (NASDAQ:CREE) was the recipient of unusually large options trading on Thursday. Stock traders purchased 9,391 put options on the stock, ARN reports. This represents an increase of approximately 167% compared to the typical volume of 3,517 put options.
Several analysts have recently commented on the stock. Analysts at Goldman Sachs Group Inc. reiterated a “buy” rating on shares of Cree (NASDAQ:CREE) in a research note to investors on Tuesday. Separately, analysts at Canaccord Genuity upgraded shares of Cree (NASDAQ:CREE) from a “hold” rating to a “buy” rating in a research note to investors on Tuesday. They now have a $80.00 price target on the stock, up previously from $65.00. Finally, analysts at Tigress Financial upgraded shares of Cree (NASDAQ:CREE) from a “buy” rating to a “strong-buy” rating in a research note to investors on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $59.72.
Cree (NASDAQ:CREE) traded up 6.56% on Thursday, hitting $73.09. The stock had a trading volume of 6,095,116 shares. 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 $58.95 and its 200-day moving average is $60.76. The company has a market cap of $8.696 billion and a price-to-earnings ratio of 92.69.
Cree (NASDAQ:CREE) last posted its quarterly earnings results on Tuesday, August 13th. The company reported $0.38 earnings per share (EPS) for the quarter, meeting the 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 previous year, the company posted $0.25 earnings per share. The company’s revenue for the quarter was up 22.2% on a year-over-year basis. Analysts expect that Cree will post $1.77 EPS for the current fiscal year.
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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