Robecosam AG reduced its stake in shares of Cree, Inc. (NASDAQ:CREE) by 21.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 516,300 shares of the LED producer’s stock after selling 140,700 shares during the quarter. Cree comprises about 1.3% of Robecosam AG’s investment portfolio, making the stock its 23rd biggest position. Robecosam AG owned 0.52% of Cree worth $19,237,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently modified their holdings of CREE. Principal Financial Group Inc. grew its stake in shares of Cree by 1.8% during the third quarter. Principal Financial Group Inc. now owns 417,150 shares of the LED producer’s stock valued at $11,760,000 after buying an additional 7,340 shares during the last quarter. Balentine LLC grew its stake in shares of Cree by 5,606.9% during the third quarter. Balentine LLC now owns 56,555 shares of the LED producer’s stock valued at $1,594,000 after buying an additional 55,564 shares during the last quarter. Alpha Windward LLC bought a new position in shares of Cree during the fourth quarter valued at approximately $540,000. Boothbay Fund Management LLC grew its stake in shares of Cree by 276.4% during the third quarter. Boothbay Fund Management LLC now owns 137,527 shares of the LED producer’s stock valued at $3,877,000 after buying an additional 100,987 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of Cree during the fourth quarter valued at approximately $753,000. 98.94% of the stock is currently owned by institutional investors.
Shares of Cree, Inc. (NASDAQ CREE) opened at $41.95 on Monday. The company has a quick ratio of 3.48, a current ratio of 4.59 and a debt-to-equity ratio of 0.05. Cree, Inc. has a twelve month low of $20.50 and a twelve month high of $43.23.
A number of research analysts have recently commented on CREE shares. Zacks Investment Research cut Cree from a “hold” rating to a “sell” rating in a research note on Monday, January 29th. Deutsche Bank set a $45.00 price target on Cree and gave the company a “buy” rating in a report on Wednesday, January 24th. Goldman Sachs Group upgraded Cree from a “sell” rating to a “neutral” rating and boosted their price target for the company from $39.00 to $41.76 in a report on Wednesday, March 7th. KeyCorp reiterated a “hold” rating on shares of Cree in a report on Monday, December 11th. Finally, BidaskClub upgraded Cree from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 17th. Four equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $33.17.
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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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