Cree, Inc. (NASDAQ:CREE) has been given an average rating of “Hold” by the fourteen research firms that are currently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $25.86.

A number of brokerages have recently weighed in on CREE. Canaccord Genuity reiterated a “hold” rating and set a $23.00 price target on shares of Cree in a report on Thursday, February 9th. Zacks Investment Research downgraded Cree from a “hold” rating to a “strong sell” rating in a report on Monday, May 1st. Williams Capital lowered their price target on Cree from $27.00 to $25.00 and set a “hold” rating on the stock in a report on Wednesday, April 26th. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $30.00 price target on shares of Cree in a report on Tuesday, February 21st. Finally, JMP Securities upgraded Cree from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $23.81 to $29.00 in a report on Monday, May 22nd.

Cree (NASDAQ:CREE) last issued its quarterly earnings results on Tuesday, April 25th. The LED producer reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by $0.20. Cree had a negative net margin of 0.26% and a positive return on equity of 1.06%. The business had revenue of $341.51 million for the quarter, compared to analysts’ expectations of $339.41 million. During the same quarter in the prior year, the firm posted $0.17 EPS. The business’s quarterly revenue was down 6.9% compared to the same quarter last year.

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In related news, Director John B. Replogle purchased 10,000 shares of Cree stock in a transaction on Thursday, April 27th. The stock was bought at an average price of $22.11 per share, with a total value of $221,100.00. Following the completion of the transaction, the director now directly owns 64,043 shares of the company’s stock, valued at $1,415,990.73. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 1.30% of the stock is owned by insiders.

Several hedge funds have recently made changes to their positions in the company. Teachers Advisors LLC boosted its stake in shares of Cree by 11.1% in the third quarter. Teachers Advisors LLC now owns 101,483 shares of the LED producer’s stock worth $2,610,000 after buying an additional 10,129 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Cree by 2.1% in the third quarter. Ameriprise Financial Inc. now owns 272,363 shares of the LED producer’s stock worth $7,005,000 after buying an additional 5,595 shares in the last quarter. Emerald Acquisition Ltd. boosted its stake in shares of Cree by 225.9% in the third quarter. Emerald Acquisition Ltd. now owns 145,788 shares of the LED producer’s stock worth $3,750,000 after buying an additional 101,055 shares in the last quarter. Profund Advisors LLC boosted its stake in shares of Cree by 20.8% in the third quarter. Profund Advisors LLC now owns 25,883 shares of the LED producer’s stock worth $666,000 after buying an additional 4,456 shares in the last quarter. Finally, HighTower Advisors LLC boosted its stake in shares of Cree by 49.6% in the third quarter. HighTower Advisors LLC now owns 50,660 shares of the LED producer’s stock worth $1,304,000 after buying an additional 16,800 shares in the last quarter. 84.38% of the stock is owned by institutional investors.

About Cree

Cree, Inc is a manufacturer of lighting-class light emitting diode (LED) products, lighting products and semiconductor products for power and radio-frequency (RF) applications. The Company’s products are focused for applications, such as indoor and outdoor lighting, video displays, transportation, electronic signs and signals, power supplies, inverters and wireless systems.

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