Everett Harris & Co. CA lifted its position in Cree, Inc. (NASDAQ:CREE) by 50.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,000 shares of the LED producer’s stock after purchasing an additional 4,000 shares during the quarter. Everett Harris & Co. CA’s holdings in Cree were worth $710,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in CREE. Ellevest Inc. increased its stake in Cree by 100.3% during the 2nd quarter. Ellevest Inc. now owns 681 shares of the LED producer’s stock valued at $40,000 after purchasing an additional 341 shares in the last quarter. Synovus Financial Corp acquired a new stake in shares of Cree in the first quarter valued at approximately $32,000. NWK Group Inc. grew its position in Cree by 50.0% during the 1st quarter. NWK Group Inc. now owns 1,050 shares of the LED producer’s stock worth $37,000 after purchasing an additional 350 shares during the last quarter. Global Retirement Partners LLC raised its position in Cree by 133.5% during the 1st quarter. Global Retirement Partners LLC now owns 1,359 shares of the LED producer’s stock worth $48,000 after buying an additional 777 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in Cree by 14.8% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,913 shares of the LED producer’s stock worth $67,000 after purchasing an additional 246 shares in the last quarter. 96.06% of the stock is owned by institutional investors and hedge funds.

Shares of CREE stock opened at $68.92 on Friday. The stock has a market capitalization of $7.45 billion, a price-to-earnings ratio of -25.81 and a beta of 1.12. Cree, Inc. has a one year low of $27.77 and a one year high of $70.22. The company’s 50-day simple moving average is $62.22 and its 200-day simple moving average is $49.12. The company has a debt-to-equity ratio of 0.25, a quick ratio of 4.22 and a current ratio of 4.89.

Cree (NASDAQ:CREE) last released its earnings results on Wednesday, April 29th. The LED producer reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.01. The company had revenue of $215.50 million for the quarter, compared to the consensus estimate of $216.05 million. Cree had a negative return on equity of 3.75% and a negative net margin of 30.11%. Cree’s quarterly revenue was down 21.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.20 EPS. As a group, research analysts forecast that Cree, Inc. will post -0.91 EPS for the current year.

Several analysts have recently commented on the stock. BidaskClub upgraded shares of Cree from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 11th. JMP Securities upgraded Cree from a “market perform” rating to an “outperform” rating and set a $74.00 price target for the company in a report on Tuesday, May 26th. Wells Fargo & Co raised their target price on shares of Cree from $35.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 30th. JPMorgan Chase & Co. raised shares of Cree from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $40.00 to $60.00 in a research report on Wednesday, May 20th. Finally, Morgan Stanley reiterated a “buy” rating and issued a $68.00 price target on shares of Cree in a report on Monday, June 22nd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Cree presently has an average rating of “Hold” and a consensus target price of $52.54.

About Cree

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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Institutional Ownership by Quarter for Cree (NASDAQ:CREE)

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