Quantamental Technologies LLC Purchases 365 Shares of Cree, Inc. (NASDAQ:CREE)

Quantamental Technologies LLC increased its position in shares of Cree, Inc. (NASDAQ:CREE) by 41.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,254 shares of the LED producer’s stock after purchasing an additional 365 shares during the period. Quantamental Technologies LLC’s holdings in Cree were worth $70,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. LPL Financial LLC lifted its stake in shares of Cree by 18.5% during the second quarter. LPL Financial LLC now owns 38,588 shares of the LED producer’s stock valued at $2,168,000 after acquiring an additional 6,025 shares during the period. Trexquant Investment LP acquired a new position in Cree during the second quarter valued at approximately $1,444,000. Atria Investments LLC boosted its position in Cree by 151.3% during the second quarter. Atria Investments LLC now owns 11,118 shares of the LED producer’s stock valued at $1,468,000 after purchasing an additional 6,694 shares during the last quarter. Panagora Asset Management Inc. boosted its position in Cree by 14.2% during the second quarter. Panagora Asset Management Inc. now owns 16,866 shares of the LED producer’s stock valued at $948,000 after purchasing an additional 2,099 shares during the last quarter. Finally, Prudential Financial Inc. boosted its position in Cree by 0.3% during the second quarter. Prudential Financial Inc. now owns 65,596 shares of the LED producer’s stock valued at $3,685,000 after purchasing an additional 170 shares during the last quarter.

Shares of NASDAQ CREE traded up $2.19 during midday trading on Thursday, reaching $51.01. The company’s stock had a trading volume of 183,328 shares, compared to its average volume of 1,553,877. Cree, Inc. has a 12-month low of $33.72 and a 12-month high of $69.21. The firm has a 50 day moving average price of $53.48 and a 200-day moving average price of $57.88. The stock has a market capitalization of $5.22 billion, a P/E ratio of 141.78 and a beta of 0.92. The company has a debt-to-equity ratio of 0.23, a current ratio of 5.27 and a quick ratio of 4.57.



Cree (NASDAQ:CREE) last announced its earnings results on Tuesday, August 20th. The LED producer reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.09). Cree had a positive return on equity of 1.23% and a negative net margin of 27.86%. The business had revenue of $251.00 million during the quarter, compared to analysts’ expectations of $248.95 million. During the same quarter in the previous year, the firm earned $0.11 EPS. Cree’s quarterly revenue was down 5.6% on a year-over-year basis. On average, equities analysts predict that Cree, Inc. will post -0.2 EPS for the current year.

CREE has been the subject of a number of recent analyst reports. BNP Paribas initiated coverage on Cree in a research report on Thursday, August 29th. They issued an “underperform” rating and a $40.00 price objective for the company. JPMorgan Chase & Co. set a $45.00 price objective on Cree and gave the company a “neutral” rating in a research report on Tuesday, August 27th. BidaskClub raised Cree from a “sell” rating to a “hold” rating in a research report on Thursday. Deutsche Bank cut their price objective on Cree from $55.00 to $52.00 and set a “hold” rating for the company in a research report on Wednesday, August 21st. Finally, Canaccord Genuity set a $72.00 price objective on Cree and gave the company a “buy” rating in a research report on Friday, September 6th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $56.75.

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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Institutional Ownership by Quarter for Cree (NASDAQ:CREE)

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