Cree, Inc. (CREE) Shares Sold by Fruth Investment Management

Fruth Investment Management reduced its stake in Cree, Inc. (NASDAQ:CREE) by 8.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,200 shares of the LED producer’s stock after selling 1,100 shares during the period. Fruth Investment Management’s holdings in Cree were worth $640,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of CREE. Capital Investment Advisory Services LLC acquired a new position in shares of Cree during the fourth quarter valued at about $35,000. Oregon Public Employees Retirement Fund grew its holdings in shares of Cree by 4,177.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,694,874 shares of the LED producer’s stock valued at $40,000 after buying an additional 1,655,251 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its holdings in shares of Cree by 22.0% during the first quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,025 shares of the LED producer’s stock valued at $59,000 after buying an additional 185 shares during the last quarter. Bank of Montreal Can grew its holdings in shares of Cree by 31.1% during the fourth quarter. Bank of Montreal Can now owns 4,010 shares of the LED producer’s stock valued at $172,000 after buying an additional 951 shares during the last quarter. Finally, Clean Yield Group acquired a new position in shares of Cree during the fourth quarter valued at about $184,000.

NASDAQ CREE opened at $66.40 on Wednesday. Cree, Inc. has a 12-month low of $33.72 and a 12-month high of $67.20. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.27 and a current ratio of 4.33. The company has a market capitalization of $6.76 billion, a PE ratio of -442.67, a price-to-earnings-growth ratio of 8.62 and a beta of 0.64.

Cree (NASDAQ:CREE) last posted its quarterly earnings results on Wednesday, January 30th. The LED producer reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.06. Cree had a negative net margin of 18.11% and a positive return on equity of 0.90%. The company had revenue of $413.04 million for the quarter, compared to analyst estimates of $408.75 million. During the same quarter in the previous year, the firm posted ($0.01) earnings per share. The company’s quarterly revenue was up 12.3% compared to the same quarter last year. Research analysts predict that Cree, Inc. will post 0.38 earnings per share for the current fiscal year.

Several research analysts recently weighed in on CREE shares. JMP Securities cut shares of Cree from an “outperform” rating to a “market perform” rating and set a $49.32 price target on the stock. in a report on Tuesday, January 29th. They noted that the move was a valuation call. Oppenheimer lifted their price objective on shares of Cree from $53.00 to $59.00 and gave the stock an “outperform” rating in a research report on Thursday, January 31st. BidaskClub lowered shares of Cree from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 27th. TheStreet raised shares of Cree from a “c” rating to a “b-” rating in a research report on Wednesday, January 9th. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $81.00 price objective (up previously from $60.00) on shares of Cree in a research report on Monday. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $55.54.

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About Cree

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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Institutional Ownership by Quarter for Cree (NASDAQ:CREE)

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