Cree, Inc. (NASDAQ:CREE) updated its second quarter earnings guidance on Tuesday. The company provided earnings per share guidance of ($0.01)-$0.04 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.07. The company issued revenue guidance of $340-360 million, compared to the consensus revenue estimate of $368.95 million.

Several research firms recently weighed in on CREE. Roth Capital set a $35.00 target price on Cree and gave the company a buy rating in a research report on Monday. J P Morgan Chase & Co downgraded Cree from a neutral rating to an underweight rating and lifted their target price for the company from $23.00 to $28.00 in a research report on Friday, October 6th. KeyCorp reiterated an equal weight rating and set a $21.00 target price on shares of Cree in a research report on Friday, August 25th. Cowen and Company set a $22.00 target price on Cree and gave the company a hold rating in a research report on Wednesday, August 23rd. Finally, Northland Securities reiterated a hold rating and set a $28.00 target price on shares of Cree in a research report on Thursday, September 28th. Six investment analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $24.04.

Shares of Cree, Inc. (NASDAQ:CREE) traded up 0.20% during midday trading on Tuesday, hitting $29.34. The stock had a trading volume of 2,047,611 shares. Cree, Inc. has a 52-week low of $20.50 and a 52-week high of $31.64. The stock’s market cap is $2.86 billion. The firm has a 50 day moving average price of $26.28 and a 200-day moving average price of $24.80.

Cree (NASDAQ:CREE) last issued its quarterly earnings results on Tuesday, October 17th. The LED producer reported $0.04 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.04. The firm had revenue of $360.00 million for the quarter, compared to analyst estimates of $360.01 million. Cree had a negative net margin of 7.17% and a negative return on equity of 0.13%. Cree’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same period last year, the company posted $0.09 EPS. Equities analysts predict that Cree, Inc. will post $0.29 EPS for the current fiscal year.

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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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