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Cree (NASDAQ:CREE) was upgraded by research analysts at TheStreet to a “buy” rating in a report released on Thursday.

Shares of Cree (NASDAQ:CREE) traded down 0.24% during mid-day trading on Thursday, hitting $44.7095. 1,014,876 shares of the company’s stock traded hands. Cree has a 1-year low of $44.11 and a 1-year high of $75.98. The stock has a 50-day moving average of $48.94 and a 200-day moving average of $52.86. The company has a market cap of $5.411 billion and a P/E ratio of 44.46. Cree also saw some unusual options trading on Monday. Stock traders acquired 20,276 call options on the company. This is an increase of approximately 392% compared to the average volume of 4,119 call options.

Cree (NASDAQ:CREE) last released its earnings data on Tuesday, August 12th. The company reported $0.42 EPS for the quarter, beating the Thomson Reuters 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 prior 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.

Several other analysts have also recently commented on the stock. Analysts at Susquehanna reiterated a “neutral” rating on shares of Cree in a research note on Wednesday. They now have a $42.00 price target on the stock, down previously from $50.00. Separately, analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Cree in a research note on Wednesday. They now have a $56.00 price target on the stock, down previously from $62.00. Finally, analysts at Canaccord Genuity reiterated a “buy” rating on shares of Cree in a research note on Wednesday. They now have a $64.00 price target on the stock, down previously from $77.00. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $59.29.

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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