Cree, Inc. (NASDAQ:CREE) has been given a consensus recommendation of “Hold” by the sixteen analysts that are covering the company, Marketbeat reports. Three investment analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $24.13.

CREE has been the subject of several analyst reports. Roth Capital restated a “buy” rating and issued a $29.00 target price (up from $27.00) on shares of Cree in a research note on Tuesday, June 20th. Canaccord Genuity restated a “hold” rating and issued a $23.00 target price on shares of Cree in a research note on Friday, April 21st. BidaskClub upgraded shares of Cree from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Deutsche Bank AG restated a “hold” rating and issued a $24.00 target price (down from $28.00) on shares of Cree in a research note on Saturday, April 29th. Finally, Zacks Investment Research downgraded shares of Cree from a “buy” rating to a “hold” rating in a research note on Tuesday, March 28th.

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Cree (NASDAQ:CREE) traded down 0.76% during midday trading on Friday, reaching $26.26. 224,293 shares of the company’s stock were exchanged. The firm’s market capitalization is $2.56 billion. The stock’s 50 day moving average is $25.06 and its 200 day moving average is $25.57. 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 data on Tuesday, April 25th. The LED producer reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by $0.20. The business had revenue of $341.51 million for the quarter, compared to analysts’ expectations of $339.41 million. Cree had a positive return on equity of 0.33% and a negative net margin of 7.36%. Cree’s quarterly revenue was down 6.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.17 earnings per share. On average, analysts expect that Cree will post $0.48 EPS for the current fiscal year.

In related news, Director John B. Replogle purchased 10,000 shares of the business’s stock in a transaction that occurred on Thursday, April 27th. The shares were purchased at an average cost of $22.11 per share, with a total value of $221,100.00. Following the completion of the acquisition, the director now directly owns 64,043 shares of the company’s stock, valued at approximately $1,415,990.73. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.30% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Russell Investments Group Ltd. acquired a new stake in shares of Cree during the fourth quarter worth $651,000. Guggenheim Capital LLC boosted its stake in shares of Cree by 205.9% in the fourth quarter. Guggenheim Capital LLC now owns 115,044 shares of the LED producer’s stock worth $3,036,000 after buying an additional 77,439 shares during the period. Thrivent Financial for Lutherans boosted its stake in shares of Cree by 7.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 16,930 shares of the LED producer’s stock worth $447,000 after buying an additional 1,180 shares during the period. Norges Bank acquired a new stake in shares of Cree during the fourth quarter worth $14,662,000. Finally, Quadrature Capital Ltd acquired a new stake in shares of Cree during the fourth quarter worth $930,000. 86.04% of the stock is currently 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.

Analyst Recommendations for Cree (NASDAQ:CREE)

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