Cree, Inc. (NASDAQ:CREE) has been assigned a consensus recommendation of “Hold” from the twenty-one brokerages that are covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation, eight have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $46.36.
Several equities research analysts have commented on CREE shares. Cowen set a $38.00 target price on Cree and gave the company a “hold” rating in a research note on Thursday, October 11th. ValuEngine upgraded Cree from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 18th. Roth Capital upgraded Cree from a “neutral” rating to a “buy” rating and boosted their target price for the company from $50.00 to $60.00 in a research note on Tuesday, September 11th. JMP Securities set a $46.00 price objective on Cree and gave the stock a “buy” rating in a research note on Wednesday, October 17th. Finally, BidaskClub upgraded Cree from a “hold” rating to a “buy” rating in a research note on Wednesday, September 5th.
Shares of CREE traded up $0.89 on Monday, hitting $45.03. The company’s stock had a trading volume of 46,206 shares, compared to its average volume of 1,281,753. 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 has a fifty-two week low of $30.78 and a fifty-two week high of $51.78. The firm has a market capitalization of $4.53 billion, a PE ratio of -300.47 and a beta of 0.50.
Several hedge funds have recently bought and sold shares of the stock. DekaBank Deutsche Girozentrale grew its holdings in Cree by 183.3% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 2,408 shares of the LED producer’s stock valued at $114,000 after buying an additional 1,558 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in Cree by 70.5% in the 3rd quarter. Tower Research Capital LLC TRC now owns 4,954 shares of the LED producer’s stock valued at $188,000 after buying an additional 2,049 shares in the last quarter. Zacks Investment Management acquired a new stake in shares of Cree during the 2nd quarter worth $210,000. Global X Management Co LLC acquired a new stake in shares of Cree during the 2nd quarter worth $269,000. Finally, Parkwood LLC acquired a new stake in shares of Cree during the 3rd quarter worth $364,000.
Cree Company 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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