Stock Traders Buy High Volume of Cree Call Options (CREE)
Shares of Cree (NASDAQ:CREE) saw unusually large options trading activity on Tuesday. Traders acquired 33,375 call options on the company, Stock Ratings News reports. This represents an increase of approximately 295% compared to the average volume of 8,441 call options.
A number of analysts have recently weighed in on CREE shares. Analysts at Sterne Agee reiterated a “buy” rating on shares of Cree in a research note to investors on Tuesday, January 14th. Separately, analysts at Stifel Nicolaus downgraded shares of Cree from a “buy” rating to a “hold” rating in a research note to investors on Monday, January 13th. Finally, analysts at Zacks upgraded shares of Cree from an “underperform” rating to a “neutral” rating in a research note to investors on Tuesday, December 24th. They now have a $61.90 price target on the stock. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $59.57.
Shares of Cree (NASDAQ:CREE) traded up 0.53% on Tuesday, hitting $62.83. The stock had a trading volume of 4,203,247 shares. Cree has a one year low of $33.18 and a one year high of $76.00. The stock has a 50-day moving average of $60.45 and a 200-day moving average of $62.77. The company has a market cap of $7.500 billion and a P/E ratio of 73.53.
Cree (NASDAQ:CREE) last issued its quarterly earnings data on Tuesday, January 21st. The company reported $0.46 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.39 by $0.07. The company had revenue of $415.09 million for the quarter, compared to the consensus estimate of $412.36 million. During the same quarter last year, the company posted $0.32 earnings per share. Cree’s revenue was up 19.9% compared to the same quarter last year. Analysts expect that Cree will post $1.65 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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