Cree EVP Norbert Hiller Sells 6,667 Shares (CREE)
Cree (NASDAQ:CREE) EVP Norbert Hiller unloaded 6,667 shares of the company’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $61.67, for a total transaction of $411,153.89. Following the completion of the transaction, the executive vice president now directly owns 44,662 shares in the company, valued at approximately $2,754,306. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Cree (NASDAQ:CREE) traded down 0.76% on Monday, hitting $60.37. The stock had a trading volume of 1,897,064 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 announced its earnings results 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 in the previous year, the company posted $0.27 earnings per share. The company’s revenue for the quarter was up 23.8% on a year-over-year basis. Analysts expect that Cree will post $1.66 EPS for the current fiscal year.
Several analysts have recently commented on the stock. 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 assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the 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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.