Cree, Inc. (NASDAQ:CREE) has received a consensus rating of “Hold” from the fourteen research firms that are covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and two have given a buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $24.71.

CREE has been the subject of several research analyst reports. Roth Capital restated a “buy” rating and set a $29.00 price target (up from $27.00) on shares of Cree in a research report on Tuesday, June 20th. Canaccord Genuity restated a “hold” rating and set a $23.00 price target on shares of Cree in a research report on Friday, April 21st. Deutsche Bank AG restated a “hold” rating and set a $24.00 price target (down from $28.00) on shares of Cree in a research report on Saturday, April 29th. Zacks Investment Research lowered Cree from a “buy” rating to a “hold” rating in a research report on Tuesday, March 28th. Finally, Cowen and Company restated a “market perform” rating on shares of Cree in a research report on Wednesday, April 26th.

In other news, Director John B. Replogle bought 10,000 shares of the business’s stock in a transaction dated Thursday, April 27th. The shares were acquired at an average price of $22.11 per share, for a total transaction of $221,100.00. Following the completion of the transaction, the director now owns 64,043 shares of the company’s stock, valued at $1,415,990.73. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.30% of the stock is owned by company insiders.

Hedge funds have recently bought and sold shares of the company. Russell Investments Group Ltd. purchased a new stake in Cree during the fourth quarter worth approximately $651,000. Comerica Bank boosted its stake in Cree by 4.7% in the fourth quarter. Comerica Bank now owns 74,116 shares of the LED producer’s stock worth $2,045,000 after buying an additional 3,349 shares during the period. Elkfork Partners LLC purchased a new stake in Cree during the fourth quarter worth approximately $137,000. Asset Management One Co. Ltd. purchased a new stake in Cree during the fourth quarter worth approximately $333,000. Finally, First Republic Investment Management Inc. boosted its stake in Cree by 2.5% in the fourth quarter. First Republic Investment Management Inc. now owns 12,591 shares of the LED producer’s stock worth $332,000 after buying an additional 309 shares during the period. Institutional investors and hedge funds own 86.11% of the company’s stock.

Shares of Cree (CREE) traded up 0.39% during trading on Monday, hitting $25.45. The stock had a trading volume of 345,123 shares. The firm’s 50-day moving average is $23.56 and its 200 day moving average is $25.78. The firm’s market cap is $2.48 billion. Cree has a 52-week low of $20.75 and a 52-week high of $31.64.

Cree (NASDAQ:CREE) last released its quarterly earnings results on Tuesday, April 25th. The LED producer reported ($0.11) EPS for the quarter, missing the consensus estimate of $0.09 by $0.20. Cree had a positive return on equity of 0.33% and a negative net margin of 7.36%. The firm 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 business earned $0.17 earnings per share. The company’s quarterly revenue was down 6.9% on a year-over-year basis. On average, analysts expect that Cree will post $0.48 EPS for the current year.

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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.

Analyst Recommendations for Cree (NASDAQ:CREE)

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