Cree (CREE) Given a $45.00 Price Target by Deutsche Bank Analysts

Cree (NASDAQ:CREE) has been given a $45.00 target price by investment analysts at Deutsche Bank in a note issued to investors on Tuesday. The brokerage currently has a “buy” rating on the LED producer’s stock. Deutsche Bank’s target price would suggest a potential upside of 30.32% from the company’s current price.

A number of other brokerages also recently issued reports on CREE. Zacks Investment Research raised shares of Cree from a “sell” rating to a “hold” rating in a research report on Friday, November 17th. KeyCorp reissued a “hold” rating on shares of Cree in a research report on Monday. Goldman Sachs Group set a $19.00 price objective on shares of Cree and gave the company a “sell” rating in a research report on Wednesday, October 18th. Williams Capital downgraded shares of Cree from a “hold” rating to a “sell” rating and set a $27.00 price objective for the company. in a research report on Thursday, October 19th. Finally, J P Morgan Chase & Co downgraded shares of Cree from a “neutral” rating to an “underweight” rating and upped their target price for the stock from $23.00 to $28.00 in a report on Friday, October 6th. Seven analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $27.50.

Cree (NASDAQ CREE) traded down $0.24 during trading hours on Tuesday, reaching $34.53. 1,080,300 shares of the company’s stock were exchanged, compared to its average volume of 1,367,886. The company has a quick ratio of 3.61, a current ratio of 4.82 and a debt-to-equity ratio of 0.06. Cree has a fifty-two week low of $20.50 and a fifty-two week high of $37.50.

Cree (NASDAQ:CREE) last issued its quarterly earnings data on Tuesday, October 17th. The LED producer reported $0.04 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $360.01 million. During the same quarter in the previous year, the firm posted $0.09 EPS. The company’s revenue for the quarter was down 3.0% compared to the same quarter last year. sell-side analysts forecast that Cree will post -0.27 earnings per share for the current year.

A number of institutional investors have recently modified their holdings of CREE. AXA purchased a new stake in Cree in the 3rd quarter worth $6,481,000. Shelton Capital Management purchased a new stake in Cree in the 3rd quarter worth $213,000. GSA Capital Partners LLP lifted its stake in Cree by 163.2% in the 3rd quarter. GSA Capital Partners LLP now owns 70,961 shares of the LED producer’s stock worth $2,000,000 after purchasing an additional 44,004 shares in the last quarter. California Public Employees Retirement System lifted its stake in Cree by 4.7% in the 3rd quarter. California Public Employees Retirement System now owns 639,152 shares of the LED producer’s stock worth $18,018,000 after purchasing an additional 28,596 shares in the last quarter. Finally, Balentine LLC lifted its stake in Cree by 5,606.9% in the 3rd quarter. Balentine LLC now owns 56,555 shares of the LED producer’s stock worth $1,594,000 after purchasing an additional 55,564 shares in the last quarter. 98.96% of the stock is owned by institutional investors.

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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.

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