Cree, Inc. (NASDAQ:CREE) – Analysts at Oppenheimer Holdings dropped their Q2 2018 EPS estimates for Cree in a research report issued on Wednesday. Oppenheimer Holdings analyst C. Rusch now expects that the LED producer will post earnings of ($0.10) per share for the quarter, down from their previous forecast of $0.02. Oppenheimer Holdings currently has a “Hold” rating on the stock. Oppenheimer Holdings also issued estimates for Cree’s Q3 2018 earnings at ($0.11) EPS, Q4 2018 earnings at ($0.03) EPS, FY2018 earnings at ($0.27) EPS and FY2019 earnings at ($0.02) EPS.

Several other equities analysts also recently commented on the company. Roth Capital set a $35.00 price target on Cree and gave the company a “buy” rating in a report on Monday, October 16th. J P Morgan Chase & Co downgraded Cree from a “neutral” rating to an “underweight” rating and increased their price target for the company from $23.00 to $28.00 in a report on Friday, October 6th. Williams Capital downgraded Cree from a “hold” rating to a “sell” rating and set a $27.00 price target on the stock. in a report on Thursday. KeyCorp reiterated an “equal weight” rating and set a $21.00 price target on shares of Cree in a report on Friday, August 25th. Finally, Cowen and Company set a $22.00 price target on Cree and gave the company a “hold” rating in a report on Wednesday, August 23rd. Seven equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company’s stock. Cree presently has a consensus rating of “Hold” and a consensus target price of $25.73.

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Cree (NASDAQ CREE) opened at 33.85 on Monday. Cree has a 52 week low of $20.50 and a 52 week high of $35.46. The stock’s market capitalization is $3.31 billion. The stock has a 50 day moving average of $27.41 and a 200 day moving average of $25.02.

Cree (NASDAQ:CREE) last announced its earnings results on Tuesday, October 17th. The LED producer reported $0.04 earnings per share for the quarter, meeting the consensus estimate of $0.04. The business had revenue of $360.00 million during the quarter, compared to the consensus estimate of $360.01 million. Cree had a negative net margin of 8.42% and a negative return on equity of 0.44%. The business’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.09 earnings per share.

Hedge funds and other institutional investors have recently modified their holdings of the business. GAM Holding AG bought a new position in shares of Cree during the second quarter valued at $104,000. Riverhead Capital Management LLC lifted its holdings in shares of Cree by 75.0% during the second quarter. Riverhead Capital Management LLC now owns 5,426 shares of the LED producer’s stock valued at $134,000 after acquiring an additional 2,326 shares during the period. Strs Ohio bought a new position in shares of Cree during the second quarter valued at $140,000. LS Investment Advisors LLC lifted its holdings in shares of Cree by 17.9% during the second quarter. LS Investment Advisors LLC now owns 7,643 shares of the LED producer’s stock valued at $188,000 after acquiring an additional 1,160 shares during the period. Finally, Advisor Group Inc. lifted its holdings in shares of Cree by 11.5% during the second quarter. Advisor Group Inc. now owns 8,175 shares of the LED producer’s stock valued at $197,000 after acquiring an additional 846 shares during the period. 91.16% of the stock is owned by institutional investors.

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.

Earnings History and Estimates for Cree (NASDAQ:CREE)

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