Cree Upgraded to Outperform by Oppenheimer (CREE)
CREE has been the subject of a number of other recent research reports. Analysts at Zacks upgraded shares of Cree from an “underperform” rating to a “neutral” rating in a research note on Tuesday, June 24th. They now have a $49.60 price target on the stock. Separately, analysts at Needham & Company LLC cut their price target on shares of Cree from $64.00 to $59.00 in a research note on Thursday, June 5th. They now have a “buy” rating on the stock. Finally, analysts at Stifel Nicolaus initiated coverage on shares of Cree in a research note on Wednesday, May 28th. They set a “hold” rating and a $54.00 price target on the stock. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Cree currently has an average rating of “Buy” and an average price target of $62.51.
Cree (NASDAQ:CREE) opened at 50.31 on Thursday. Cree has a 52 week low of $44.52 and a 52 week high of $76.00. The stock has a 50-day moving average of $47.99 and a 200-day moving average of $55.55. The company has a market cap of $6.089 billion and a price-to-earnings ratio of 49.95.
Cree (NASDAQ:CREE) last announced its earnings results on Tuesday, April 22nd. The company reported $0.39 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.34 earnings per share. The company’s revenue for the quarter was up 16.1% on a year-over-year basis. On average, analysts predict that Cree will post $1.64 earnings per share 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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