JMP Securities Upgrades Cree (CREE) to “Outperform”

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.



Cree (NASDAQ:CREE) last posted its earnings results on Wednesday, January 30th. The LED producer reported $0.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.06. Cree had a negative net margin of 18.11% and a positive return on equity of 0.90%. The firm had revenue of $413.04 million for the quarter, compared to analyst estimates of $408.75 million. During the same period in the previous year, the firm posted ($0.01) EPS. The company’s revenue for the quarter was up 12.3% compared to the same quarter last year. Equities research analysts forecast that Cree will post 0.37 EPS for the current fiscal year.

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.

Further Reading: How to interpret a stock’s beta number

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Analyst Recommendations for Cree (NASDAQ:CREE)

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