Cree (NASDAQ:CREE) was upgraded by JMP Securities from a “market perform” rating to an “outperform” rating in a research report issued on Wednesday, The Fly reports.
Other equities research analysts have also issued reports about the stock. BidaskClub raised shares of Cree from a “buy” rating to a “strong-buy” rating in a report on Tuesday, January 29th. Zacks Investment Research lowered shares of Cree from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 18th. JPMorgan Chase & Co. lowered shares of Cree from a “neutral” rating to an “underweight” rating and set a $45.96 target price on the stock. in a report on Sunday, December 9th. Oppenheimer boosted their target price on shares of Cree from $53.00 to $59.00 and gave the stock an “outperform” rating in a report on Thursday, January 31st. Finally, TheStreet raised shares of Cree from a “c” rating to a “b-” rating in a report on Wednesday, January 9th. One research analyst has rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $49.94.
CREE opened at $57.28 on Wednesday. Cree has a fifty-two week low of $33.72 and a fifty-two week high of $57.72. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.27 and a current ratio of 4.33. The company has a market cap of $5.88 billion, a price-to-earnings ratio of -381.87, a price-to-earnings-growth ratio of 7.69 and a beta of 0.63.
Several hedge funds and other institutional investors have recently modified their holdings of CREE. Capital Investment Advisory Services LLC acquired a new position in shares of Cree in the 4th quarter worth approximately $35,000. Oregon Public Employees Retirement Fund lifted its position in shares of Cree by 4,177.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,694,874 shares of the LED producer’s stock worth $40,000 after purchasing an additional 1,655,251 shares during the period. DekaBank Deutsche Girozentrale lifted its position in shares of Cree by 183.3% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 2,408 shares of the LED producer’s stock worth $114,000 after purchasing an additional 1,558 shares during the period. Bank of Montreal Can lifted its position in shares of Cree by 31.1% in the 4th quarter. Bank of Montreal Can now owns 4,010 shares of the LED producer’s stock worth $172,000 after purchasing an additional 951 shares during the period. Finally, Clean Yield Group acquired a new position in shares of Cree in the 4th quarter worth approximately $184,000.
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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