Shares of Cree, Inc. (NASDAQ:CREE) have earned an average rating of “Hold” from the nineteen analysts that are covering the stock, MarketBeat Ratings reports. Five analysts have rated the stock with a sell recommendation, eleven have issued a hold recommendation and two have given 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 $23.42.

A number of equities research analysts have recently issued reports on the stock. Roth Capital set a $29.00 price target on shares of Cree and gave the company a “buy” rating in a research note on Tuesday, August 22nd. BidaskClub upgraded shares of Cree from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. TheStreet raised shares of Cree from a “d+” rating to a “c-” rating in a research report on Wednesday, September 27th. KeyCorp reaffirmed an “equal weight” rating and set a $21.00 price objective on shares of Cree in a research report on Friday, August 25th. Finally, Cowen and Company set a $22.00 target price on shares of Cree and gave the company a “hold” rating in a report on Wednesday, August 23rd.

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Shares of Cree (CREE) traded up 1.20% during trading on Wednesday, hitting $29.60. 799,630 shares of the stock were exchanged. Cree has a one year low of $20.50 and a one year high of $31.64. The company’s market cap is $2.89 billion. The stock’s 50 day moving average price is $24.74 and its 200-day moving average price is $24.64. Cree also was the recipient of some unusual options trading activity on Monday. Stock investors purchased 10,347 call options on the stock. This represents an increase of 816% compared to the typical daily volume of 1,129 call options.

Cree (NASDAQ:CREE) last posted its earnings results on Tuesday, August 22nd. The LED producer reported $0.04 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.04. The company had revenue of $359.00 million for the quarter, compared to analysts’ expectations of $349.82 million. Cree had a negative net margin of 7.17% and a negative return on equity of 0.13%. Cree’s revenue for the quarter was down 7.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.19 earnings per share. On average, analysts predict that Cree will post $0.30 EPS for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. increased its position in shares of Cree by 26.8% in the 2nd quarter. BlackRock Inc. now owns 10,245,032 shares of the LED producer’s stock valued at $252,541,000 after purchasing an additional 2,164,847 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Cree by 3.0% in the 2nd quarter. Vanguard Group Inc. now owns 8,226,854 shares of the LED producer’s stock valued at $202,792,000 after purchasing an additional 236,090 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Cree by 13.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,784,651 shares of the LED producer’s stock valued at $191,893,000 after purchasing an additional 897,753 shares in the last quarter. Fairpointe Capital LLC lifted its position in shares of Cree by 8.8% during the 2nd quarter. Fairpointe Capital LLC now owns 6,070,231 shares of the LED producer’s stock worth $149,631,000 after purchasing an additional 492,465 shares during the last quarter. Finally, State Street Corp lifted its position in shares of Cree by 24.2% during the 2nd quarter. State Street Corp now owns 3,688,186 shares of the LED producer’s stock worth $90,915,000 after purchasing an additional 717,698 shares during the last quarter. Institutional investors own 91.38% of the company’s stock.

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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