Cree, Inc. (NASDAQ:CREE) has received an average recommendation of "Hold" from the sixteen ratings firms that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $117.09.
Several analysts have issued reports on CREE shares. New Street Research started coverage on Cree in a research note on Monday, March 29th. They issued a "buy" rating and a $120.00 target price for the company. Bank of America started coverage on Cree in a research note on Monday, March 1st. They set a "buy" rating and a $140.00 price objective for the company. Deutsche Bank Aktiengesellschaft increased their price objective on Cree from $100.00 to $110.00 and gave the company a "hold" rating in a research note on Friday, April 9th. Citigroup raised Cree from a "neutral" rating to a "buy" rating and increased their price objective for the company from $105.00 to $160.00 in a research note on Wednesday, February 17th. Finally, Wells Fargo & Company increased their price objective on Cree from $100.00 to $115.00 and gave the company an "equal weight" rating in a research note on Thursday, April 8th.
Institutional investors and hedge funds have recently bought and sold shares of the business. Mcmillion Capital Management Inc. bought a new position in Cree in the fourth quarter worth $25,000. Wealthcare Advisory Partners LLC bought a new position in Cree in the first quarter worth $43,000. Childress Capital Advisors LLC bought a new position in shares of Cree during the fourth quarter valued at $51,000. KB Financial Partners LLC bought a new position in shares of Cree during the first quarter valued at $56,000. Finally, Allred Capital Management LLC bought a new position in shares of Cree during the first quarter valued at $66,000.
Shares of CREE opened at $100.01 on Tuesday. The stock has a market capitalization of $11.55 billion, a price-to-earnings ratio of -26.67 and a beta of 1.51. The stock has a 50 day moving average price of $101.46. The company has a debt-to-equity ratio of 0.37, a quick ratio of 3.79 and a current ratio of 4.18. Cree has a 1 year low of $56.39 and a 1 year high of $129.90.
Cree (NASDAQ:CREE) last issued its earnings results on Wednesday, April 28th. The LED producer reported ($0.22) earnings per share (EPS) for the quarter, topping the Thomson Reuters' consensus estimate of ($0.31) by $0.09. The business had revenue of $137.30 million during the quarter, compared to analyst estimates of $130.39 million. Cree had a negative return on equity of 6.87% and a negative net margin of 60.56%. Cree's revenue for the quarter was up 20.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.17) earnings per share. As a group, equities research analysts anticipate that Cree will post -1.38 EPS for the current year.
Cree Company Profile
Cree, Inc provides lighting-class light emitting diode (LED) and semiconductor products for power and radio-frequency (RF) applications in the United States, China, Europe, and internationally. It operates in two segments, Wolfspeed and LED Products. The Wolfspeed segment offers silicon carbide (SiC) materials for RF, power switching, gemstones, and other applications.
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