Cree, Inc. (NASDAQ:CREE) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a report issued on Wednesday.

Several other equities research analysts have also recently commented on CREE. Williams Capital dropped their price objective on Cree from $27.00 to $25.00 and set a “hold” rating on the stock in a research report on Wednesday, April 26th. Cowen and Company reaffirmed a “market perform” rating on shares of Cree in a research report on Wednesday, April 26th. Deutsche Bank AG reaffirmed a “hold” rating and set a $24.00 price objective (down from $28.00) on shares of Cree in a research report on Saturday, April 29th. Zacks Investment Research cut Cree from a “hold” rating to a “strong sell” rating in a research report on Monday, May 1st. Finally, TheStreet downgraded Cree from a “c-” rating to a “d+” rating in a report on Wednesday, May 17th. Five equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the stock. Cree currently has an average rating of “Hold” and an average target price of $23.73.

Shares of Cree (NASDAQ:CREE) traded up 0.17% during mid-day trading on Wednesday, hitting $23.50. 1,050,018 shares of the stock were exchanged. Cree has a 12-month low of $20.50 and a 12-month high of $31.64. The stock’s 50 day moving average price is $24.81 and its 200-day moving average price is $24.97. The stock’s market capitalization is $2.29 billion.

Cree (NASDAQ:CREE) last released its quarterly earnings data on Tuesday, August 22nd. The LED producer reported $0.04 EPS for the quarter, meeting the consensus estimate of $0.04. Cree had a negative return on equity of 0.13% and a negative net margin of 7.17%. The company had revenue of $359 million for the quarter, compared to analysts’ expectations of $349.82 million. During the same period last year, the firm posted $0.19 earnings per share. Cree’s revenue was down 7.6% compared to the same quarter last year. On average, equities research analysts expect that Cree will post $0.41 EPS for the current fiscal year.

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Several hedge funds and other institutional investors have recently bought and sold shares of CREE. Profund Advisors LLC increased its position in Cree by 0.3% in the second quarter. Profund Advisors LLC now owns 33,127 shares of the LED producer’s stock valued at $817,000 after buying an additional 102 shares during the period. AMG Funds LLC increased its position in Cree by 0.3% in the first quarter. AMG Funds LLC now owns 74,083 shares of the LED producer’s stock valued at $1,980,000 after buying an additional 213 shares during the period. D.A. Davidson & CO. increased its position in Cree by 0.8% in the second quarter. D.A. Davidson & CO. now owns 42,003 shares of the LED producer’s stock valued at $1,035,000 after buying an additional 317 shares during the period. Cambridge Investment Research Advisors Inc. increased its position in Cree by 1.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 18,982 shares of the LED producer’s stock valued at $507,000 after buying an additional 350 shares during the period. Finally, Wrapmanager Inc. increased its position in Cree by 3.3% in the second quarter. Wrapmanager Inc. now owns 11,081 shares of the LED producer’s stock valued at $273,000 after buying an additional 354 shares during the period. 91.56% of the stock is currently owned by hedge funds and other institutional investors.

Cree Company Profile

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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