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Cree (NASDAQ:CREE)‘s stock had its “hold” rating reiterated by investment analysts at Deutsche Bank in a note issued to investors on Wednesday. They currently have a $47.00 target price on the stock, down from their previous target price of $56.00. Deutsche Bank’s target price would suggest a potential downside of 4.47% from the stock’s previous close.

CREE has been the subject of a number of other recent research reports. Analysts at Summit Research downgraded shares of Cree from a “buy” rating to a “hold” rating in a research note on Wednesday. Separately, analysts at Summit downgraded shares of Cree from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, analysts at Needham & Company LLC cut their price target on shares of Cree from $59.00 to $55.00 in a research note on Wednesday. They now have a “buy” rating 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. The company presently has an average rating of “Hold” and an average price target of $59.29.

Shares of Cree (NASDAQ:CREE) traded down 8.91% during mid-day trading on Wednesday, hitting $44.815. The stock had a trading volume of 11,245,674 shares. Cree has a one year low of $44.52 and a one year high of $75.98. The stock has a 50-day moving average of $49. and a 200-day moving average of $52.92. The company has a market cap of $5.424 billion and a price-to-earnings ratio of 48.81. Cree also saw unusually large options trading activity on Monday. Stock traders bought 20,276 call options on the company. This is an increase of 392% compared to the average daily volume of 4,119 call options.

Cree (NASDAQ:CREE) last issued its quarterly earnings data on Tuesday, August 12th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.01. The company had revenue of $436.30 million for the quarter, compared to the consensus estimate of $444.11 million. During the same quarter in the previous year, the company posted $0.38 earnings per share. On average, analysts predict that Cree will post $1.96 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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