Cree (CREE) Given a $50.00 Price Target at Roth Capital
Other analysts have also recently issued research reports about the stock. BidaskClub cut shares of Cree from a strong-buy rating to a buy rating in a research report on Friday, June 22nd. ValuEngine cut shares of Cree from a strong-buy rating to a buy rating in a research report on Friday, June 1st. Zacks Investment Research raised shares of Cree from a hold rating to a buy rating and set a $43.00 price target on the stock in a research report on Monday, April 30th. Canaccord Genuity initiated coverage on shares of Cree in a research note on Friday, August 3rd. They set a buy rating and a $61.00 target price on the stock. Finally, Piper Jaffray Companies restated a hold rating and set a $45.00 target price on shares of Cree in a research note on Wednesday, April 25th. Three analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have issued a buy rating to the company. The company has an average rating of Hold and a consensus price target of $40.66.
Shares of CREE opened at $45.45 on Wednesday. The stock has a market cap of $5.07 billion, a PE ratio of 236.80 and a beta of 0.71. Cree has a 1 year low of $20.50 and a 1 year high of $51.78. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.46 and a current ratio of 3.74.
Several hedge funds have recently added to or reduced their stakes in CREE. Smithfield Trust Co. purchased a new stake in shares of Cree during the second quarter worth approximately $119,000. Quantbot Technologies LP purchased a new position in Cree in the first quarter valued at approximately $193,000. Berkshire Asset Management LLC PA purchased a new position in Cree in the second quarter valued at approximately $205,000. Zacks Investment Management purchased a new position in Cree in the second quarter valued at approximately $210,000. Finally, Global X Management Co LLC purchased a new position in Cree in the second quarter valued at 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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