38,499 Shares in Cree, Inc. (CREE) Purchased by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd purchased a new stake in Cree, Inc. (NASDAQ:CREE) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 38,499 shares of the LED producer’s stock, valued at approximately $1,458,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. D L Carlson Investment Group Inc. grew its holdings in Cree by 18.2% in the 2nd quarter. D L Carlson Investment Group Inc. now owns 197,385 shares of the LED producer’s stock valued at $8,205,000 after buying an additional 30,375 shares in the last quarter. Robecosam AG grew its holdings in Cree by 0.7% in the 3rd quarter. Robecosam AG now owns 1,495,500 shares of the LED producer’s stock valued at $56,021,000 after buying an additional 10,220 shares in the last quarter. Raymond James & Associates grew its holdings in Cree by 21.7% in the 2nd quarter. Raymond James & Associates now owns 575,303 shares of the LED producer’s stock valued at $23,915,000 after buying an additional 102,570 shares in the last quarter. Bank of America Corp DE grew its holdings in Cree by 4.9% in the 2nd quarter. Bank of America Corp DE now owns 657,152 shares of the LED producer’s stock valued at $27,317,000 after buying an additional 30,988 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY grew its holdings in Cree by 3.5% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 58,613 shares of the LED producer’s stock valued at $2,437,000 after buying an additional 1,979 shares in the last quarter.

CREE opened at $43.87 on Friday. Cree, Inc. has a 52-week low of $30.78 and a 52-week high of $51.78. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.15 and a current ratio of 4.19.

Cree (NASDAQ:CREE) last released its earnings results on Tuesday, October 16th. The LED producer reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.10. The company had revenue of $408.28 million for the quarter, compared to analyst estimates of $407.32 million. Cree had a negative return on equity of 0.10% and a negative net margin of 17.60%. Cree’s quarterly revenue was up 13.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.04 EPS. As a group, equities research analysts expect that Cree, Inc. will post 0.33 earnings per share for the current fiscal year.

CREE has been the topic of a number of research reports. Canaccord Genuity set a $60.00 price objective on Cree and gave the company a “buy” rating in a report on Tuesday, August 14th. BidaskClub lowered Cree from a “buy” rating to a “hold” rating in a report on Thursday, August 16th. Roth Capital set a $50.00 target price on Cree and gave the stock a “hold” rating in a report on Wednesday, August 15th. TheStreet raised Cree from a “c” rating to a “b-” rating in a report on Wednesday, August 15th. Finally, ValuEngine raised Cree from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 18th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $45.87.

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Cree Profile

Cree, Inc provides lighting-class light emitting diode (LED), lighting, and semiconductor products for power and radio-frequency (RF) applications in the United States, China, Europe, South Korea, Japan, Malaysia, Taiwan, and internationally. It operates in three segments: Wolfspeed, LED Products, and Lighting Products.

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Institutional Ownership by Quarter for Cree (NASDAQ:CREE)

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