Cree (NASDAQ:CREE) Upgraded to “Hold” at BidaskClub
Several other research analysts also recently commented on CREE. JPMorgan Chase & Co. set a $45.00 price objective on Cree and gave the stock a neutral rating in a report on Tuesday, August 27th. Roth Capital cut their price target on Cree from $73.00 to $67.00 and set a buy rating on the stock in a report on Thursday, June 13th. TheStreet downgraded Cree from a b- rating to a c rating in a report on Monday, May 20th. Piper Jaffray Companies downgraded Cree from a neutral rating to an underweight rating and cut their price target for the company from $57.00 to $38.00 in a report on Monday, August 26th. Finally, Deutsche Bank cut their price target on Cree from $55.00 to $52.00 and set a hold rating on the stock in a report on Wednesday, August 21st. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Cree presently has a consensus rating of Hold and an average target price of $56.75.
CREE traded up $1.14 during trading on Thursday, hitting $51.91. 1,691,535 shares of the stock were exchanged, compared to its average volume of 1,561,499. The firm has a 50 day simple moving average of $53.48 and a 200 day simple moving average of $57.88. The firm has a market cap of $5.46 billion, a price-to-earnings ratio of 144.19 and a beta of 0.92. Cree has a 1 year low of $33.72 and a 1 year high of $69.21. The company has a debt-to-equity ratio of 0.23, a quick ratio of 4.57 and a current ratio of 5.27.
Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. boosted its position in shares of Cree by 4.0% in the 1st quarter. BlackRock Inc. now owns 13,625,143 shares of the LED producer’s stock worth $779,630,000 after purchasing an additional 518,599 shares in the last quarter. Artisan Partners Limited Partnership boosted its position in shares of Cree by 17.6% in the 1st quarter. Artisan Partners Limited Partnership now owns 9,603,842 shares of the LED producer’s stock worth $549,532,000 after purchasing an additional 1,438,363 shares in the last quarter. FMR LLC boosted its position 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 worth $184,274,000 after purchasing an additional 265,776 shares in the last quarter. Nuveen Asset Management LLC acquired a new stake in shares of Cree in the 2nd quarter worth $134,889,000. Finally, Invesco Ltd. boosted its position in shares of Cree by 566.5% in the 2nd quarter. Invesco Ltd. now owns 1,816,237 shares of the LED producer’s stock worth $102,036,000 after purchasing an additional 1,543,719 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.
Featured Story: Risk Tolerance
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.