Other equities research analysts have also issued research reports about the company. JPMorgan Chase & Co. lowered Cree from a neutral rating to an underweight rating and lowered their target price for the company from $43.00 to $40.00 in a research note on Thursday, October 31st. Zacks Investment Research raised Cree from a sell rating to a hold rating and set a $51.00 target price for the company in a research note on Thursday, December 19th. ValuEngine lowered Cree from a strong-buy rating to a buy rating in a research note on Saturday, December 21st. BMO Capital Markets lowered their target price on Cree to $45.00 and set a market perform rating for the company in a research note on Thursday, October 31st. Finally, TheStreet raised Cree from a d+ rating to a c- rating in a research note on Tuesday, January 14th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $52.90.
NASDAQ CREE opened at $52.36 on Friday. Cree has a 1-year low of $40.46 and a 1-year high of $69.21. The company has a current ratio of 5.57, a quick ratio of 4.82 and a debt-to-equity ratio of 0.23. The stock has a 50-day moving average of $47.09 and a 200-day moving average of $50.27. The firm has a market cap of $5.64 billion, a PE ratio of -13.67 and a beta of 0.86.
In other Cree news, Director Duy Loan T. Le purchased 2,000 shares of the stock in a transaction on Friday, November 1st. The stock was acquired at an average price of $45.87 per share, with a total value of $91,740.00. Following the transaction, the director now directly owns 13,659 shares of the company’s stock, valued at approximately $626,538.33. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.36% of the company’s stock.
Several hedge funds have recently bought and sold shares of the business. Arden Trust Co grew its holdings in shares of Cree by 1.7% during the 4th quarter. Arden Trust Co now owns 16,513 shares of the LED producer’s stock worth $762,000 after acquiring an additional 279 shares during the period. Louisiana State Employees Retirement System grew its holdings in shares of Cree by 1.6% during the 4th quarter. Louisiana State Employees Retirement System now owns 26,100 shares of the LED producer’s stock worth $1,205,000 after acquiring an additional 400 shares during the period. Sciencast Management LP purchased a new position in shares of Cree during the 4th quarter worth approximately $571,000. Allred Capital Management LLC purchased a new position in shares of Cree during the 4th quarter worth approximately $30,000. Finally, Polianta Ltd grew its holdings in shares of Cree by 33.9% during the 4th quarter. Polianta Ltd now owns 24,900 shares of the LED producer’s stock worth $1,149,000 after acquiring an additional 6,300 shares during the period. Hedge funds and other institutional investors own 97.48% of the company’s stock.
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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