Cree, Inc. (CREE) Given Average Rating of “Hold” by Brokerages

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.

Cree (NASDAQ:CREE) last issued its quarterly earnings data on Tuesday, October 16th. The LED producer reported $0.22 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.10. Cree had a negative return on equity of 0.10% and a negative net margin of 17.60%. The business had revenue of $408.28 million during the quarter, compared to analyst estimates of $407.32 million. During the same period in the previous year, the firm earned $0.04 EPS. Cree’s quarterly revenue was up 13.3% compared to the same quarter last year. Equities research analysts predict that Cree will post 0.33 EPS for the current fiscal year.

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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Analyst Recommendations for Cree (NASDAQ:CREE)

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