Cree Director Sells $2,004,275 in Stock (CREE)
Cree (NASDAQ:CREE) Director Alan Ruud unloaded 32,500 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $61.67, for a total value of $2,004,275.00. Following the transaction, the director now directly owns 1,168,683 shares in the company, valued at approximately $72,072,681. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Cree (NASDAQ:CREE) traded down 0.76% during mid-day trading on Monday, hitting $60.37. The stock had a trading volume of 1,897,264 shares. Cree has a one year low of $24.50 and a one year high of $76.00. The stock has a 50-day moving average of $62.39 and a 200-day moving average of $59.64. The company has a market cap of $7.207 billion and a price-to-earnings ratio of 71.56.
Cree (NASDAQ:CREE) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $0.39 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.39. The company had revenue of $391.00 million for the quarter, compared to the consensus estimate of $392.31 million. During the same quarter last year, the company posted $0.27 earnings per share. Cree’s revenue was up 23.8% compared to the same quarter last year. Analysts expect that Cree will post $1.66 EPS for the current fiscal year.
CREE has been the subject of a number of recent research reports. Analysts at Zacks downgraded shares of Cree from a “neutral” rating to an “underperform” rating in a research note to investors on Friday. They now have a $59.10 price target on the stock. Separately, analysts at Wedbush cut their price target on shares of Cree from $83.00 to $77.00 in a research note to investors on Wednesday, October 23rd. They now have an “outperform” rating on the stock. Finally, analysts at Piper Jaffray Cos. cut their price target on shares of Cree from $71.00 to $70.00 in a research note to investors on Wednesday, October 23rd. They now have an “overweight” rating on the stock. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. Cree currently has an average rating of “Hold” and an average price target of $58.71.
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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