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.

Cree (NASDAQ:CREE) last issued its quarterly earnings results on Wednesday, May 1st. The LED producer reported $0.08 EPS for the quarter, topping the consensus estimate of $0.06 by $0.02. Cree had a negative net margin of 18.25% and a positive return on equity of 1.59%. The firm had revenue of $274.00 million for the quarter, compared to analysts’ expectations of $274.73 million. During the same period in the previous year, the business earned $0.04 earnings per share. Cree’s revenue for the quarter was up 21.7% compared to the same quarter last year. As a group, analysts predict that Cree will post 0.4 earnings per share for the current fiscal year.

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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Analyst Recommendations for Cree (NASDAQ:CREE)

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