Canaccord Genuity Analysts Give Cree (CREE) a $60.00 Price Target
Several other research firms have also commented on CREE. Cowen reiterated a hold rating and set a $45.00 price objective on shares of Cree in a research note on Thursday, August 9th. BidaskClub upgraded Cree from a hold rating to a buy rating in a research note on Tuesday, August 7th. ValuEngine upgraded Cree from a buy rating to a strong-buy rating in a research note on Tuesday, July 24th. Nomura began coverage on Cree in a research note on Wednesday, July 18th. They set a neutral rating and a $44.00 price objective for the company. Finally, Zacks Investment Research lowered Cree from a buy rating to a hold rating in a research note on Tuesday, June 26th. Three research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $40.66.
NASDAQ:CREE traded down $0.18 during trading hours on Tuesday, hitting $44.93. 13,571 shares of the stock were exchanged, compared to its average volume of 1,338,680. Cree has a 52-week low of $20.50 and a 52-week high of $51.78. The company has a current ratio of 3.74, a quick ratio of 2.46 and a debt-to-equity ratio of 0.15. The firm has a market cap of $5.07 billion, a P/E ratio of 236.80 and a beta of 0.71.
Institutional investors have recently modified their holdings of the company. Smithfield Trust Co. acquired a new position in shares of Cree during the 2nd quarter worth approximately $119,000. Quantbot Technologies LP acquired a new position in shares of Cree during the 1st quarter worth approximately $193,000. Berkshire Asset Management LLC PA acquired a new position in shares of Cree during the 2nd quarter worth approximately $205,000. Zacks Investment Management acquired a new position in shares of Cree during the 2nd quarter worth approximately $210,000. Finally, Global X Management Co LLC acquired a new position in shares of Cree during the 2nd quarter worth approximately $269,000.
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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