Cree, Inc. (NASDAQ:CREE) reached a new 52-week high on Tuesday . The stock traded as high as $36.15 and last traded at $36.16, with a volume of 7,375,975 shares. The stock had previously closed at $34.32.

Several equities research analysts recently weighed in on CREE shares. BidaskClub raised shares of Cree from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. Roth Capital set a $29.00 price objective on shares of Cree and gave the stock a “buy” rating in a report on Tuesday, August 22nd. JMP Securities set a $41.00 price objective on shares of Cree and gave the stock a “buy” rating in a report on Wednesday, October 18th. TheStreet raised shares of Cree from a “d+” rating to a “c-” rating in a report on Wednesday, September 27th. Finally, KeyCorp reaffirmed an “equal weight” rating and issued a $21.00 price objective on shares of Cree in a report on Friday, August 25th. Seven investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company’s stock. Cree has an average rating of “Hold” and an average target price of $25.73.

The company’s market cap is $3.51 billion. The stock has a 50 day moving average of $28.81 and a 200-day moving average of $25.40.

Cree (NASDAQ:CREE) last issued its earnings results on Tuesday, October 17th. The LED producer reported $0.04 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.04. Cree had a negative return on equity of 3.59% and a negative net margin of 5.51%. The firm had revenue of $360.00 million for the quarter, compared to analysts’ expectations of $360.01 million. During the same quarter last year, the business earned $0.09 earnings per share. The company’s revenue was down 3.0% compared to the same quarter last year. Analysts expect that Cree, Inc. will post $0.10 earnings per share for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of CREE. GAM Holding AG bought a new position in Cree during the second quarter worth about $104,000. Riverhead Capital Management LLC boosted its holdings in Cree by 75.0% during the second quarter. Riverhead Capital Management LLC now owns 5,426 shares of the LED producer’s stock worth $134,000 after buying an additional 2,326 shares during the last quarter. Strs Ohio bought a new position in Cree during the second quarter worth about $140,000. LS Investment Advisors LLC boosted its holdings in Cree by 17.9% during the second quarter. LS Investment Advisors LLC now owns 7,643 shares of the LED producer’s stock worth $188,000 after buying an additional 1,160 shares during the last quarter. Finally, Advisor Group Inc. lifted its holdings in shares of Cree by 11.5% during the 2nd quarter. Advisor Group Inc. now owns 8,175 shares of the LED producer’s stock valued at $197,000 after purchasing an additional 846 shares in the last quarter. Hedge funds and other institutional investors own 90.95% of the company’s stock.

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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.

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