D L Carlson Investment Group Inc. lifted its stake in Cree, Inc. (NASDAQ:CREE) by 94.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 136,170 shares of the LED producer’s stock after purchasing an additional 66,000 shares during the quarter. Cree accounts for 1.5% of D L Carlson Investment Group Inc.’s portfolio, making the stock its 20th largest position. D L Carlson Investment Group Inc.’s holdings in Cree were worth $5,057,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. SeaCrest Wealth Management LLC purchased a new stake in shares of Cree in the fourth quarter worth approximately $156,000. Garner Asset Management Corp bought a new position in Cree during the third quarter valued at approximately $204,000. ETRADE Capital Management LLC bought a new position in Cree during the third quarter valued at approximately $208,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Cree by 41.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,721 shares of the LED producer’s stock valued at $212,000 after acquiring an additional 1,687 shares in the last quarter. Finally, Shelton Capital Management bought a new position in Cree during the third quarter valued at approximately $213,000. 98.94% of the stock is owned by institutional investors and hedge funds.
Cree, Inc. (NASDAQ CREE) opened at $36.71 on Monday. Cree, Inc. has a twelve month low of $20.50 and a twelve month high of $40.24. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.59 and a quick ratio of 3.48.
Several equities analysts recently weighed in on CREE shares. Deutsche Bank set a $45.00 price objective on shares of Cree and gave the company a “buy” rating in a research report on Tuesday, December 12th. Zacks Investment Research raised shares of Cree from a “sell” rating to a “hold” rating in a research report on Friday, November 17th. Northland Securities reaffirmed an “under perform” rating and set a $28.00 price objective on shares of Cree in a research report on Tuesday, December 19th. They noted that the move was a valuation call. Roth Capital lowered shares of Cree from a “buy” rating to a “neutral” rating and set a $35.00 price objective on the stock. in a research report on Tuesday, January 23rd. Finally, Piper Jaffray Companies started coverage on shares of Cree in a research report on Wednesday, December 20th. They set a “neutral” rating and a $37.00 price objective on the stock. Five investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $30.42.
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Cree Company Profile
Cree, Inc is a manufacturer of lighting-class light emitting diode (LED) products, lighting products and semiconductor products for power and radio-frequency (RF) applications. The Company’s products are focused for applications, such as indoor and outdoor lighting, video displays, transportation, electronic signs and signals, power supplies, inverters and wireless systems.
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