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Cree (NASDAQ: CREE) received a number of price target changes and ratings updates during the last week:

  • Cree had its “buy” rating reaffirmed by analysts at Canaccord Genuity. They now have a $64.00 price target on the stock, down previously from $77.00.
  • Cree had its “overweight” rating reaffirmed by analysts at JPMorgan Chase & Co.. They now have a $56.00 price target on the stock, down previously from $62.00.
  • Cree had its “hold” rating reaffirmed by analysts at Deutsche Bank. They now have a $47.00 price target on the stock, down previously from $56.00.
  • Cree had its price target lowered by analysts at Northland Securities from $57.00 to $52.00. They now have a “market perform” rating on the stock.
  • Cree was downgraded by analysts at Credit Agricole from an “outperform” rating to an “underperform” rating.
  • Cree had its “neutral” rating reaffirmed by analysts at Susquehanna. They now have a $42.00 price target on the stock, down previously from $50.00.
  • Cree was downgraded by analysts at Summit Research from a “buy” rating to a “hold” rating.
  • Cree had its price target lowered by analysts at Needham & Company LLC from $59.00 to $55.00. They now have a “buy” rating on the stock.
  • Cree was downgraded by analysts at Summit from a “buy” rating to a “hold” rating. They wrote, “We are still assuming 21.4% revenue growth in FY15, going from our F2014E $1648M to FY2015 $2000M. Downside risks would be reduced LED adoption in lighting worldwide for any reason, use of mid-power LEDs to do the job of high quality LEDs, and upside might continue from the phasing out of incandescents in multiple countries”

Shares of Cree, Inc. (NASDAQ:CREE) opened at 44.815 on Thursday. Cree, Inc. has a 52-week low of $44.11 and a 52-week 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 $5.424 billion and a P/E ratio of 48.81. Cree also saw some unusual options trading activity on Monday. Stock investors bought 20,276 call options on the stock. This represents an increase of approximately 392% compared to the typical volume of 4,119 call options.

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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