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Shares of Cree (NASDAQ:CREE) were the target of a large increase in short interest in the month of April. As of April 30th, there was short interest totalling 13,154,114 shares, an increase of 13.6% from the April 15th total of 11,577,511 shares, American Banking and Market News reports. Based on an average daily trading volume, of 4,643,643 shares, the short-interest ratio is presently 2.8 days. Currently, 11.0% of the company’s shares are sold short.

In other Cree news, Director John B. Replogle bought 1,250 shares of Cree stock on the open market in a transaction that occurred on Monday, May 12th. The shares were purchased at an average price of $46.29 per share, for a total transaction of $57,862.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

CREE has been the subject of a number of recent research reports. Analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Cree in a research note on Wednesday. They now have a $61.00 price target on the stock, down previously from $72.50. Separately, analysts at Gabelli upgraded shares of Cree from a “hold” rating to a “buy” rating in a research note on Thursday, May 8th. Finally, 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. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Cree presently has a consensus rating of “Hold” and a consensus price target of $63.09.

Cree (NASDAQ:CREE) opened at 45.61 on Thursday. Cree has a one year low of $44.60 and a one year high of $76.00. The stock has a 50-day moving average of $52.17 and a 200-day moving average of $57.89. The company has a market cap of $5.520 billion and a price-to-earnings ratio of 45.39.

Cree (NASDAQ:CREE) last released its earnings data on Tuesday, April 22nd. The company reported $0.39 EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted $0.34 earnings per share. The company’s quarterly revenue was up 16.1% on a year-over-year basis. Analysts expect that Cree will post $1.64 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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