Public Employees Retirement System of Ohio increased its stake in shares of Cree, Inc. (NASDAQ:CREE) by 2.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,170 shares of the LED producer’s stock after buying an additional 685 shares during the period. Public Employees Retirement System of Ohio’s holdings in Cree were worth $806,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the stock. Advisory Services Network LLC acquired a new position in shares of Cree during the first quarter valued at about $134,000. Oppenheimer Asset Management Inc. acquired a new position in shares of Cree during the first quarter valued at about $249,000. Wrapmanager Inc. increased its position in shares of Cree by 10.1% in the first quarter. Wrapmanager Inc. now owns 10,727 shares of the LED producer’s stock valued at $287,000 after buying an additional 988 shares in the last quarter. JPMorgan Chase & Co. acquired a new position in shares of Cree during the first quarter valued at about $346,000. Finally, OppenheimerFunds Inc. increased its position in shares of Cree by 13.5% in the first quarter. OppenheimerFunds Inc. now owns 13,148 shares of the LED producer’s stock valued at $351,000 after buying an additional 1,567 shares in the last quarter. 86.52% of the stock is owned by institutional investors.
Cree, Inc. (NASDAQ CREE) opened at 22.85 on Friday. The stock has a 50 day moving average of $25.07 and a 200-day moving average of $25.15. Cree, Inc. has a 1-year low of $20.75 and a 1-year high of $31.64. The firm’s market capitalization is $2.22 billion.
A number of research firms have weighed in on CREE. BidaskClub upgraded Cree from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. Zacks Investment Research downgraded Cree from a “hold” rating to a “sell” rating in a research report on Tuesday, July 18th. Cowen and Company restated a “market perform” rating on shares of Cree in a research report on Wednesday, April 26th. Williams Capital cut their target price on Cree from $27.00 to $25.00 and set a “hold” rating for the company in a research report on Wednesday, April 26th. Finally, Canaccord Genuity reiterated a “hold” rating and set a $23.00 price objective on shares of Cree in a research report on Friday, April 21st. Three analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $25.00.
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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