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Cree (NASDAQ:CREE) was the recipient of unusually large options trading activity on Monday. Investors acquired 20,276 call options on the company, reports. This is an increase of 392% compared to the typical volume of 4,119 call options.

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, July 23rd. They now have a $62.00 price target on the stock, up previously from $61.00. Separately, analysts at Oppenheimer upgraded shares of Cree from a “market perform” rating to an “outperform” rating in a research note on Thursday, July 3rd. They now have a $59.00 price target on the stock, up previously from $50.31. Finally, 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. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $63.12.

Cree (NASDAQ:CREE) traded up 0.59% on Monday, hitting $49.69. The stock had a trading volume of 1,985,730 shares. Cree has a 52 week low of $44.52 and a 52 week high of $76.00. The stock’s 50-day moving average is $48.99 and its 200-day moving average is $53.28. The company has a market cap of $6.014 billion and a P/E ratio of 49.01.

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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