Cree, Inc. (NASDAQ:CREE) was the target of unusually large options trading on Monday. Stock investors acquired 10,347 call options on the company. This is an increase of approximately 816% compared to the average daily volume of 1,129 call options.

Cree (NASDAQ CREE) opened at 29.81 on Thursday. Cree has a 52 week low of $20.50 and a 52 week high of $31.64. The company’s market capitalization is $2.91 billion. The company’s 50 day moving average price is $24.91 and its 200-day moving average price is $24.68.

Cree (NASDAQ:CREE) last announced its quarterly earnings results on Tuesday, August 22nd. The LED producer reported $0.04 earnings per share for the quarter, meeting the consensus estimate of $0.04. The company had revenue of $359.00 million during the quarter, compared to analysts’ expectations of $349.82 million. Cree had a negative return on equity of 1.07% and a negative net margin of 1.64%. Cree’s quarterly revenue was down 7.6% on a year-over-year basis. During the same period last year, the business earned $0.19 earnings per share. Equities research analysts expect that Cree will post $0.30 earnings per share for the current year.

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

A number of equities analysts have weighed in on CREE shares. Roth Capital reissued a “buy” rating and issued a $29.00 target price (up previously from $27.00) on shares of Cree in a research report on Tuesday, June 20th. BidaskClub lowered Cree from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Zacks Investment Research lowered Cree from a “hold” rating to a “sell” rating in a research report on Tuesday, July 18th. ValuEngine raised Cree from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. Finally, Deutsche Bank AG reissued a “hold” rating and issued a $22.00 target price (down previously from $24.00) on shares of Cree in a research report on Wednesday, August 23rd. Five analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $23.42.

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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.

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