Cree (CREE) PT Set at $50.00 by Roth Capital

Roth Capital set a $50.00 price target on Cree (NASDAQ:CREE) in a research note released on Wednesday. The firm currently has a hold rating on the LED producer’s stock.

Other equities analysts also recently issued reports about the stock. ValuEngine downgraded shares of Cree from a buy rating to a hold rating in a report on Thursday, August 2nd. BidaskClub downgraded shares of Cree from a buy rating to a hold rating in a report on Tuesday, July 3rd. Oppenheimer raised shares of Cree from a market perform rating to an outperform rating and set a $53.00 price objective on the stock in a report on Wednesday, April 25th. Zacks Investment Research raised shares of Cree from a hold rating to a buy rating and set a $43.00 price objective on the stock in a report on Monday, April 30th. Finally, CIBC raised shares of Cree from a market perform rating to an outperform rating in a report on Wednesday, April 25th. Three equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $40.66.

CREE stock traded down $1.15 during midday trading on Wednesday, hitting $45.11. 1,702,500 shares of the stock traded hands, compared to its average volume of 1,338,680. The firm has a market cap of $5.07 billion, a PE ratio of 237.42 and a beta of 0.71. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.46 and a current ratio of 3.74. Cree has a 1-year low of $20.50 and a 1-year high of $51.78.

Cree (NASDAQ:CREE) last released its quarterly earnings results on Tuesday, August 14th. The LED producer reported $0.11 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.03. The company had revenue of $409.45 million for the quarter, compared to analyst estimates of $399.69 million. Cree had a negative net margin of 17.50% and a negative return on equity of 1.10%. The firm’s revenue was up 14.1% on a year-over-year basis. During the same quarter last year, the business earned $0.04 earnings per share. research analysts predict that Cree will post -0.23 earnings per share for the current fiscal year.

Several large investors have recently bought and sold shares of the company. Global X Management Co LLC purchased a new position in shares of Cree in the second quarter worth about $269,000. Verition Fund Management LLC purchased a new position in shares of Cree in the second quarter worth about $1,250,000. Millennium Management LLC lifted its stake in shares of Cree by 109.6% in the second quarter. Millennium Management LLC now owns 46,576 shares of the LED producer’s stock worth $1,936,000 after buying an additional 530,136 shares in the last quarter. MetLife Investment Advisors LLC lifted its stake in shares of Cree by 4.3% in the second quarter. MetLife Investment Advisors LLC now owns 108,950 shares of the LED producer’s stock worth $4,529,000 after buying an additional 4,495 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY lifted its stake in shares of Cree by 3.5% in the second quarter. Metropolitan Life Insurance Co. NY now owns 58,613 shares of the LED producer’s stock worth $2,437,000 after buying an additional 1,979 shares in the last quarter.

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. Its Lighting Products segment offers LED lighting systems and bulbs for use in settings, such as office and retail space, restaurants and hospitality, schools and universities, manufacturing, healthcare, airports, municipal, residential, street lighting and parking structures, and other applications.

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Analyst Recommendations for Cree (NASDAQ:CREE)

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