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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”
  • Cree was upgraded by analysts at TheStreet to a “buy” rating.
  • Cree was downgraded by analysts at Zacks from a “neutral” rating to an “underperform” rating. They now have a $42.90 price target on the stock.

Shares of Cree, Inc. (NASDAQ:CREE) traded down 0.27% on Wednesday, hitting $45.40. 594,558 shares of the company’s stock traded hands. Cree, Inc. has a one year low of $43.66 and a one year 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 $5.541 billion and a price-to-earnings ratio of 45.07.

Cree (NASDAQ:CREE) last announced its earnings results on Tuesday, August 12th. The company reported $0.42 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.38 earnings per share. Analysts expect that Cree, Inc. will post $1.85 EPS 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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