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Shares of Cree (NASDAQ:CREE) have earned an average rating of “Hold” from the twenty-four analysts that are covering the company, Stock Ratings Network reports. Three research analysts have rated the stock with a sell recommendation, nine have given a hold recommendation, eleven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $58.38.

Shares of Cree (NASDAQ:CREE) traded up 0.05% during mid-day trading on Wednesday, hitting $45.55. 127,649 shares of the company’s stock traded hands. Cree has a 52 week low of $43.66 and a 52 week high of $75.98. The stock has a 50-day moving average of $48.51 and a 200-day moving average of $52.37. The company has a market cap of $5.559 billion and a P/E ratio of 45.07.

Cree (NASDAQ:CREE) last announced its earnings results 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. Analysts expect that Cree will post $1.85 EPS for the current fiscal year.

A number of analysts have recently weighed in on CREE shares. Analysts at Zacks downgraded shares of Cree from a “neutral” rating to an “underperform” rating in a research note on Tuesday. They now have a $42.90 price target on the stock. Separately, analysts at TheStreet upgraded shares of Cree to a “buy” rating in a research note on Thursday, August 14th. Finally, analysts at Susquehanna reiterated a “neutral” rating on shares of Cree in a research note on Wednesday, August 13th. They now have a $42.00 price target on the stock, down previously from $50.00.

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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