Cree, Inc. (CREE) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Cree, Inc. (NASDAQ:CREE) have earned an average recommendation of “Hold” from the twenty-two ratings firms that are currently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $43.98.

CREE has been the subject of several research analyst reports. BidaskClub downgraded shares of Cree from a “buy” rating to a “hold” rating in a research report on Tuesday, September 11th. ValuEngine lowered shares of Cree from a “buy” rating to a “hold” rating in a research note on Thursday, August 2nd. Roth Capital set a $50.00 price objective on shares of Cree and gave the company a “hold” rating in a research note on Wednesday, August 15th. Zacks Investment Research lowered shares of Cree from a “buy” rating to a “hold” rating in a research note on Tuesday, June 26th. Finally, Cowen reiterated a “hold” rating and issued a $45.00 price objective on shares of Cree in a research note on Thursday, August 9th.

In other Cree news, EVP David Todd Emerson sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of $45.84, for a total value of $1,031,400.00. Following the transaction, the executive vice president now owns 159,097 shares in the company, valued at approximately $7,293,006.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.55% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Smithfield Trust Co. acquired a new position in shares of Cree during the 2nd quarter worth $119,000. Quantbot Technologies LP acquired a new position in shares of Cree during the 1st quarter worth $193,000. Berkshire Asset Management LLC PA acquired a new position in shares of Cree during the 2nd quarter worth $205,000. Zacks Investment Management acquired a new position in shares of Cree during the 2nd quarter worth $210,000. Finally, Global X Management Co LLC acquired a new position in shares of Cree during the 2nd quarter worth $269,000.

Shares of NASDAQ:CREE traded down $1.60 during mid-day trading on Wednesday, hitting $38.05. The stock had a trading volume of 1,957,600 shares, compared to its average volume of 1,392,783. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.39 and a current ratio of 3.58. The company has a market cap of $4.12 billion, a PE ratio of -253.67 and a beta of 0.55. Cree has a 12-month low of $26.45 and a 12-month high of $51.78.

Cree (NASDAQ:CREE) last issued its quarterly earnings results on Tuesday, August 14th. The LED producer reported $0.11 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.03. The business had revenue of $409.45 million during the quarter, compared to the consensus estimate of $399.69 million. Cree had a negative net margin of 18.74% and a negative return on equity of 0.74%. The firm’s quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.04 EPS. equities analysts predict that Cree will post 0.13 earnings per share for the current year.

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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