Meyer Handelman Co. purchased a new position in shares of Cree, Inc. (NASDAQ:CREE) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 5,000 shares of the LED producer’s stock, valued at approximately $214,000.

Several other hedge funds have also bought and sold shares of the stock. Crossmark Global Holdings Inc. increased its holdings in shares of Cree by 5.6% during the 4th quarter. Crossmark Global Holdings Inc. now owns 9,205 shares of the LED producer’s stock worth $394,000 after acquiring an additional 490 shares during the last quarter. Capital Investment Advisory Services LLC acquired a new position in shares of Cree during the 4th quarter worth approximately $35,000. Bank of Montreal Can increased its holdings in shares of Cree by 31.1% during the 4th quarter. Bank of Montreal Can now owns 4,010 shares of the LED producer’s stock worth $172,000 after acquiring an additional 951 shares during the last quarter. Creative Planning increased its holdings in shares of Cree by 14.6% during the 4th quarter. Creative Planning now owns 7,453 shares of the LED producer’s stock worth $319,000 after acquiring an additional 951 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky increased its holdings in shares of Cree by 7.5% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 18,670 shares of the LED producer’s stock worth $707,000 after acquiring an additional 1,300 shares during the last quarter.

CREE has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lowered Cree from a “neutral” rating to an “underweight” rating and set a $45.96 target price on the stock. in a report on Sunday, December 9th. JMP Securities set a $46.00 target price on Cree and gave the stock a “buy” rating in a report on Wednesday, October 17th. Canaccord Genuity set a $58.00 target price on Cree and gave the stock a “buy” rating in a report on Wednesday, October 17th. Goldman Sachs Group raised Cree from a “neutral” rating to a “buy” rating and set a $58.00 target price on the stock in a report on Thursday, November 8th. Finally, Nomura set a $40.00 price target on Cree and gave the company a “hold” rating in a research note on Wednesday, October 17th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $49.09.

CREE traded up $0.14 during trading on Monday, hitting $51.26. The stock had a trading volume of 4,957 shares, compared to its average volume of 1,353,458. The company has a market capitalization of $5.28 billion, a PE ratio of -340.80, a price-to-earnings-growth ratio of 6.96 and a beta of 0.60. Cree, Inc. has a one year low of $31.44 and a one year high of $52.76. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.33 and a quick ratio of 3.27.

Cree (NASDAQ:CREE) last released its earnings results on Wednesday, January 30th. The LED producer reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.06. The firm had revenue of $413.04 million during the quarter, compared to the consensus estimate of $408.75 million. Cree had a positive return on equity of 0.90% and a negative net margin of 18.11%. The company’s revenue was up 12.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.01) EPS. Equities analysts anticipate that Cree, Inc. will post 0.37 earnings per share for the current fiscal year.

TRADEMARK VIOLATION NOTICE: “5,000 Shares in Cree, Inc. (CREE) Acquired by Meyer Handelman Co.” was originally published by TheOlympiaReport and is the property of of TheOlympiaReport. If you are reading this piece on another website, it was illegally stolen and republished in violation of US & international copyright & trademark laws. The legal version of this piece can be read at https://theolympiareport.com/2019/02/11/5000-shares-in-cree-inc-cree-acquired-by-meyer-handelman-co.html.

Cree 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. It operates in three segments: Wolfspeed, LED Products, and Lighting Products.

Featured Story: Fundamental Analysis and Choosing Stocks

Institutional Ownership by Quarter for Cree (NASDAQ:CREE)

Receive News & Ratings for Cree Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cree and related companies with MarketBeat.com's FREE daily email newsletter.