Cree (CREE) Stock Rating Lowered by TheStreet
TheStreet downgraded shares of Cree (NASDAQ:CREE) from a b- rating to a c rating in a research report released on Monday morning, TheStreetRatingsTable reports.
Several other equities research analysts have also recently commented on CREE. Zacks Investment Research cut shares of Cree from a buy rating to a hold rating in a research report on Wednesday, April 10th. CIBC reiterated a market perform rating on shares of Cree in a research report on Thursday, May 2nd. BidaskClub cut shares of Cree from a buy rating to a hold rating in a research report on Thursday, May 9th. Finally, Canaccord Genuity reiterated a buy rating and issued a $81.00 price target (up from $60.00) on shares of Cree in a research report on Monday, April 15th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $58.89.
Shares of NASDAQ CREE opened at $58.33 on Monday. The company has a current ratio of 4.48, a quick ratio of 3.97 and a debt-to-equity ratio of 0.22. Cree has a fifty-two week low of $33.72 and a fifty-two week high of $69.21. The stock has a market cap of $6.65 billion, a P/E ratio of -388.87, a P/E/G ratio of 7.89 and a beta of 0.69.
In related news, Director Duy Loan T. Le purchased 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The shares were purchased at an average price of $64.46 per share, with a total value of $128,920.00. Following the purchase, the director now owns 6,442 shares of the company’s stock, valued at approximately $415,251.32. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.55% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of CREE. Slow Capital Inc. grew its stake in shares of Cree by 2.5% in the 1st quarter. Slow Capital Inc. now owns 8,948 shares of the LED producer’s stock valued at $512,000 after buying an additional 216 shares in the last quarter. FMR LLC grew its stake in shares of Cree by 9.0% in the 1st quarter. FMR LLC now owns 3,220,440 shares of the LED producer’s stock valued at $184,274,000 after buying an additional 265,776 shares in the last quarter. M&T Bank Corp bought a new stake in shares of Cree in the 1st quarter valued at approximately $221,000. MetLife Investment Advisors LLC grew its stake in shares of Cree by 1.3% in the 1st quarter. MetLife Investment Advisors LLC now owns 107,376 shares of the LED producer’s stock valued at $6,144,000 after buying an additional 1,344 shares in the last quarter. Finally, SEI Investments Co grew its stake in shares of Cree by 47.7% in the 1st quarter. SEI Investments Co now owns 1,044,133 shares of the LED producer’s stock valued at $59,746,000 after buying an additional 336,989 shares in the last quarter.
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. It operates in three segments: Wolfspeed, LED Products, and Lighting Products.
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