BidaskClub upgraded shares of Cree (NASDAQ:CREE) from a sell rating to a hold rating in a research report released on Thursday, BidAskClub reports.

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.

Cree (NASDAQ:CREE) last released its quarterly earnings data on Tuesday, August 20th. The LED producer reported $0.11 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.09). The firm had revenue of $251.00 million for the quarter, compared to analysts’ expectations of $248.95 million. Cree had a positive return on equity of 1.23% and a negative net margin of 27.86%. The company’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.11 earnings per share. As a group, equities analysts anticipate that Cree will post -0.2 earnings per share for the current fiscal year.

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.

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Analyst Recommendations for Cree (NASDAQ:CREE)

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