Cree, Inc. (NASDAQ:CREE) Given Consensus Rating of “Hold” by Brokerages

Shares of Cree, Inc. (NASDAQ:CREE) have earned a consensus recommendation of “Hold” from the sixteen analysts that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $58.67.

Several research analysts have commented on the stock. Oppenheimer cut shares of Cree from an “outperform” rating to a “market perform” rating and raised their target price for the stock from $58.00 to $64.78 in a report on Thursday, May 2nd. Zacks Investment Research cut shares of Cree from a “buy” rating to a “hold” rating in a report on Thursday, April 25th. BidaskClub cut shares of Cree from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. TheStreet cut shares of Cree from a “b-” rating to a “c” rating in a report on Monday, May 20th. Finally, BMO Capital Markets cut shares of Cree from an “outperform” rating to a “market perform” rating and set a $55.00 target price for the company. in a report on Monday, June 3rd.

In related news, Director Duy Loan T. Le purchased 2,000 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The stock was acquired at an average cost of $60.07 per share, for a total transaction of $120,140.00. Following the completion of the acquisition, the director now owns 8,442 shares in the company, valued at approximately $507,110.94. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.55% of the company’s stock.



A number of institutional investors and hedge funds have recently modified their holdings of CREE. Whale Rock Capital Management LLC bought a new position in Cree during the second quarter worth $51,222,000. Pictet Asset Management Ltd. bought a new position in Cree during the second quarter worth $14,234,000. Nuveen Asset Management LLC bought a new position in Cree during the second quarter worth $134,889,000. Victory Capital Management Inc. bought a new position in Cree during the second quarter worth $44,724,000. Finally, UBS Asset Management Americas Inc. increased its position in Cree by 446.2% during the second quarter. UBS Asset Management Americas Inc. now owns 508,003 shares of the LED producer’s stock worth $28,540,000 after acquiring an additional 414,997 shares during the period.

Shares of CREE traded down $0.01 during midday trading on Friday, hitting $57.13. The stock had a trading volume of 18,228 shares, compared to its average volume of 995,546. Cree has a fifty-two week low of $33.72 and a fifty-two week high of $69.21. The stock’s 50-day moving average price is $59.53. The company has a market capitalization of $6.08 billion, a price-to-earnings ratio of -381.13, a P/E/G ratio of 6.03 and a beta of 0.78. The company has a current ratio of 4.48, a quick ratio of 3.97 and a debt-to-equity ratio of 0.22.

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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