Equities analysts predict that Cree, Inc. (NASDAQ:CREE) will announce $350.16 million in sales for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for Cree’s earnings. The highest sales estimate is $350.80 million and the lowest is $349.30 million. Cree reported sales of $388.41 million during the same quarter last year, which would indicate a negative year over year growth rate of 9.8%. The company is expected to issue its next earnings results after the market closes on Tuesday, August 22nd.

According to Zacks, analysts expect that Cree will report full-year sales of $350.16 million for the current financial year, with estimates ranging from $1.36 billion to $1.50 billion. For the next financial year, analysts expect that the firm will report sales of $1.51 billion per share, with estimates ranging from $1.42 billion to $1.61 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Cree.

Several brokerages have issued reports on CREE. Cowen and Company reiterated a “market perform” rating on shares of Cree in a report on Wednesday, April 26th. Roth Capital reiterated a “buy” rating and issued a $29.00 price target (up previously from $27.00) on shares of Cree in a report on Tuesday, June 20th. J P Morgan Chase & Co reiterated a “neutral” rating and issued a $26.00 price target (up previously from $25.00) on shares of Cree in a report on Monday, June 5th. JMP Securities upgraded Cree from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $23.81 to $29.00 in a report on Monday, May 22nd. Finally, TheStreet lowered Cree from a “c-” rating to a “d+” rating in a report on Wednesday, May 17th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $25.00.

Shares of Cree (NASDAQ:CREE) opened at 23.78 on Wednesday. Cree has a 12 month low of $20.75 and a 12 month high of $31.64. The firm’s market capitalization is $2.31 billion. The company has a 50-day moving average price of $25.22 and a 200-day moving average price of $25.21.

Several hedge funds and other institutional investors have recently bought and sold shares of CREE. BlackRock Inc. raised its position in Cree by 13,401.9% in the first quarter. BlackRock Inc. now owns 8,080,185 shares of the LED producer’s stock worth $215,984,000 after buying an additional 8,020,340 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Cree by 17.9% in the first quarter. Dimensional Fund Advisors LP now owns 6,886,898 shares of the LED producer’s stock worth $184,088,000 after buying an additional 1,043,768 shares in the last quarter. State Street Corp raised its position in Cree by 24.2% in the second quarter. State Street Corp now owns 3,688,186 shares of the LED producer’s stock worth $90,915,000 after buying an additional 717,698 shares in the last quarter. Norges Bank bought a new position in Cree during the fourth quarter worth $14,662,000. Finally, Fairpointe Capital LLC raised its position in Cree by 8.8% in the second quarter. Fairpointe Capital LLC now owns 6,070,231 shares of the LED producer’s stock worth $149,631,000 after buying an additional 492,465 shares in the last quarter. Institutional investors own 86.52% of the company’s stock.

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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.

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