Cray Inc. (CRAY) Expected to Post Quarterly Sales of $167.43 Million

Equities analysts predict that Cray Inc. (NASDAQ:CRAY) will post sales of $167.43 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Cray’s earnings. The highest sales estimate is $174.00 million and the lowest is $164.10 million. Cray posted sales of $346.57 million in the same quarter last year, which suggests a negative year-over-year growth rate of 51.7%. The firm is scheduled to announce its next earnings results after the market closes on Wednesday, February 14th.

According to Zacks, analysts expect that Cray will report full year sales of $167.43 million for the current year, with estimates ranging from $390.00 million to $390.10 million. For the next year, analysts anticipate that the company will post sales of $440.01 million per share, with estimates ranging from $439.50 million to $440.54 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for Cray.

Several brokerages have commented on CRAY. BidaskClub lowered shares of Cray from a “hold” rating to a “sell” rating in a report on Wednesday, January 31st. Zacks Investment Research upgraded shares of Cray from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a report on Wednesday, October 25th. KeyCorp restated a “buy” rating and issued a $24.00 price objective on shares of Cray in a report on Wednesday, November 1st. ValuEngine upgraded shares of Cray from a “sell” rating to a “hold” rating in a research note on Tuesday, November 21st. Finally, Craig Hallum upgraded shares of Cray from a “hold” rating to a “buy” rating in a research note on Tuesday, November 21st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company. The company has an average rating of “Buy” and an average price target of $26.80.

In related news, SVP Michael Charles Piraino sold 1,100 shares of the stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $23.00, for a total value of $25,300.00. Following the completion of the transaction, the senior vice president now directly owns 43,484 shares in the company, valued at approximately $1,000,132. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Charles A. Morreale sold 42,680 shares of the stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $19.37, for a total transaction of $826,711.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 73,780 shares of company stock valued at $1,530,312. 4.00% of the stock is owned by company insiders.

Several institutional investors have recently modified their holdings of CRAY. Victory Capital Management Inc. increased its stake in shares of Cray by 361.5% in the 3rd quarter. Victory Capital Management Inc. now owns 904,640 shares of the technology company’s stock worth $17,595,000 after acquiring an additional 708,613 shares in the last quarter. Granite Investment Partners LLC purchased a new stake in Cray during the 3rd quarter valued at about $11,737,000. NWQ Investment Management Company LLC grew its position in Cray by 66.7% during the 3rd quarter. NWQ Investment Management Company LLC now owns 1,475,548 shares of the technology company’s stock valued at $28,699,000 after purchasing an additional 590,325 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Cray by 20.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,959,980 shares of the technology company’s stock valued at $36,064,000 after purchasing an additional 326,742 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its position in Cray by 75.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 373,265 shares of the technology company’s stock valued at $6,867,000 after purchasing an additional 160,305 shares during the last quarter. Institutional investors own 96.24% of the company’s stock.

Cray (NASDAQ CRAY) opened at $22.15 on Monday. Cray has a 1-year low of $16.50 and a 1-year high of $26.65. The company has a market cap of $895.70, a price-to-earnings ratio of 316.43 and a beta of 1.53.

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About Cray

Cray Inc is engaged in designing, developing, manufacturing, marketing and servicing the high performance computing (HPC) market, primarily categories of systems known as supercomputers. The Company’s segments include Supercomputing, Storage and Data Management, Maintenance and Support, and Engineering Services and Other.

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