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.
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.
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.
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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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