Brokerages Set Cree, Inc. (CREE) PT at $34.77

Shares of Cree, Inc. (NASDAQ:CREE) have earned a consensus rating of “Hold” from the twenty brokerages that are currently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have given a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $34.77.

A number of research analysts recently issued reports on CREE shares. Deutsche Bank set a $45.00 price objective on Cree and gave the company a “buy” rating in a research report on Tuesday, December 12th. BidaskClub upgraded Cree from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 17th. Northland Securities restated an “under perform” rating and set a $28.00 price objective on shares of Cree in a research report on Tuesday, December 19th. They noted that the move was a valuation call. Zacks Investment Research lowered Cree from a “hold” rating to a “sell” rating in a research report on Monday, January 29th. Finally, Roth Capital lowered Cree from a “buy” rating to a “neutral” rating and set a $35.00 price objective for the company. in a research report on Tuesday, January 23rd.

How to Become a New Pot Stock Millionaire

NASDAQ:CREE traded down $1.54 during mid-day trading on Wednesday, reaching $38.77. The company’s stock had a trading volume of 400,082 shares, compared to its average volume of 1,490,171. The company has a current ratio of 4.59, a quick ratio of 3.48 and a debt-to-equity ratio of 0.05. Cree has a twelve month low of $20.50 and a twelve month high of $45.43. The firm has a market cap of $4,026.49, a price-to-earnings ratio of 204.05 and a beta of 0.62.

Cree (NASDAQ:CREE) last issued its quarterly earnings results on Tuesday, January 23rd. The LED producer reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.02). The business had revenue of $367.87 million during the quarter, compared to analyst estimates of $349.62 million. Cree had a negative return on equity of 1.24% and a negative net margin of 7.77%. The firm’s quarterly revenue was down 8.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.30 earnings per share. research analysts forecast that Cree will post -0.37 earnings per share for the current fiscal year.

Several institutional investors have recently made changes to their positions in CREE. Principal Financial Group Inc. grew its stake in shares of Cree by 1.8% in the 3rd quarter. Principal Financial Group Inc. now owns 417,150 shares of the LED producer’s stock valued at $11,760,000 after purchasing an additional 7,340 shares during the period. SG Americas Securities LLC acquired a new position in shares of Cree in the 4th quarter valued at $753,000. Balentine LLC lifted its stake in shares of Cree by 5,606.9% in the 3rd quarter. Balentine LLC now owns 56,555 shares of the LED producer’s stock valued at $1,594,000 after purchasing an additional 55,564 shares during the period. Alpha Windward LLC acquired a new stake in Cree during the 4th quarter worth $540,000. Finally, Boothbay Fund Management LLC raised its stake in Cree by 276.4% during the 3rd quarter. Boothbay Fund Management LLC now owns 137,527 shares of the LED producer’s stock worth $3,877,000 after buying an additional 100,987 shares during the period. 98.94% of the stock is currently owned by institutional investors.

ILLEGAL ACTIVITY WARNING: “Brokerages Set Cree, Inc. (CREE) PT at $34.77” was first reported by WKRB News and is owned by of WKRB News. If you are accessing this story on another site, it was illegally stolen and reposted in violation of United States & international copyright laws. The legal version of this story can be accessed at https://www.wkrb13.com/2018/04/02/brokerages-set-cree-inc-cree-pt-at-34-77.html.

About Cree

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.

Analyst Recommendations for Cree (NASDAQ:CREE)

Receive News & Ratings for Cree Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cree and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply