Cree, Inc. (NASDAQ:CREE) was downgraded by analysts at Williams Capital from a “hold” rating to a “sell” rating in a report released on Thursday. They presently have a $27.00 price target on the LED producer’s stock. Williams Capital’s price objective points to a potential downside of 20.96% from the company’s previous close.

Several other equities analysts have also recently commented on CREE. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Cree in a research report on Wednesday. Roth Capital set a $35.00 target price on shares of Cree and gave the stock a “buy” rating in a research report on Monday. Bank of America Corporation lifted their target price on shares of Cree from $31.00 to $32.00 and gave the stock a “neutral” rating in a research report on Wednesday. TheStreet raised shares of Cree from a “d+” rating to a “c-” rating in a research report on Wednesday, September 27th. Finally, JMP Securities lifted their target price on shares of Cree from $29.00 to $41.00 and gave the stock an “outperform” rating in a research report on Wednesday. Seven 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 company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $25.58.

Cree (NASDAQ:CREE) opened at 34.16 on Thursday. Cree has a 12 month low of $20.50 and a 12 month high of $35.46. The firm’s market cap is $3.33 billion. The firm’s 50-day moving average price is $26.85 and its 200-day moving average price is $24.90.

Cree (NASDAQ:CREE) last posted its earnings results on Tuesday, October 17th. The LED producer reported $0.04 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.04. Cree had a negative net margin of 8.42% and a negative return on equity of 0.44%. The firm had revenue of $360.00 million for the quarter, compared to analysts’ expectations of $360.01 million. During the same quarter last year, the firm earned $0.09 EPS. The company’s quarterly revenue was down 3.0% compared to the same quarter last year. On average, equities research analysts expect that Cree will post $0.29 EPS for the current fiscal year.

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A number of institutional investors have recently added to or reduced their stakes in CREE. BlackRock Inc. grew its stake in Cree by 13,401.9% in the 1st quarter. BlackRock Inc. now owns 8,080,185 shares of the LED producer’s stock valued at $215,984,000 after buying an additional 8,020,340 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in 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 buying an additional 897,753 shares in the last quarter. State Street Corp grew its stake in Cree by 24.2% in the 2nd quarter. State Street Corp now owns 3,688,186 shares of the LED producer’s stock valued at $90,915,000 after buying an additional 717,698 shares in the last quarter. Fairpointe Capital LLC grew its stake in Cree by 8.8% in the 2nd quarter. Fairpointe Capital LLC now owns 6,070,231 shares of the LED producer’s stock valued at $149,631,000 after buying an additional 492,465 shares in the last quarter. Finally, FIL Ltd grew its stake in Cree by 37.7% in the 2nd quarter. FIL Ltd now owns 1,382,176 shares of the LED producer’s stock valued at $34,070,000 after buying an additional 378,590 shares in the last quarter. Institutional investors and hedge funds own 91.16% of the company’s stock.

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.

Analyst Recommendations for Cree (NASDAQ:CREE)

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