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Cree (NASDAQ:CREE) shares reached a new 52-week low on Wednesday , StockRatingsNetwork reports. The company traded as low as $44.60 and last traded at $44.86, with a volume of 1,335,659 shares changing hands. The stock had previously closed at $46.17.

A number of analysts have recently weighed in on CREE shares. Analysts at Zacks downgraded shares of Cree from a “neutral” rating to an “underperform” rating in a research note on Tuesday, April 29th. They now have a $44.60 price target on the stock. Separately, analysts at Credit Suisse reiterated a “neutral” rating on shares of Cree in a research note on Monday, April 28th. They now have a $50.00 price target on the stock. Finally, analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Cree in a research note on Wednesday, April 23rd. They now have a $72.50 price target on the stock. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Cree has an average rating of “Hold” and an average target price of $64.16.

The stock’s 50-day moving average is $54.06 and its 200-day moving average is $58.64. The company has a market cap of $5.445 billion and a P/E ratio of 45.80.

Cree (NASDAQ:CREE) last released its earnings data on Tuesday, April 22nd. The company reported $0.39 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.38 by $0.01. The company had revenue of $405.20 million for the quarter, compared to the consensus estimate of $407.28 million. During the same quarter last year, the company posted $0.34 earnings per share. Cree’s revenue was up 16.1% compared to the same quarter last year. Analysts expect that Cree will post $1.64 EPS for the current fiscal year.

In other Cree news, Director Alan Ruud sold 25,000 shares of the company’s stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $50.05, for a total value of $1,251,250.00. Following the transaction, the director now directly owns 1,014,492 shares in the company, valued at approximately $50,775,325. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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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