Nisa Investment Advisors LLC boosted its position in Cree, Inc. (NASDAQ:CREE) by 18.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 41,200 shares of the LED producer’s stock after buying an additional 6,400 shares during the period. Nisa Investment Advisors LLC’s holdings in Cree were worth $1,016,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Russell Investments Group Ltd. purchased a new position in Cree during the fourth quarter worth about $651,000. Norges Bank purchased a new position in Cree during the fourth quarter worth about $14,662,000. Quadrature Capital Ltd purchased a new position in Cree during the fourth quarter worth about $930,000. Teachers Advisors LLC increased its position in Cree by 5.6% in the fourth quarter. Teachers Advisors LLC now owns 107,133 shares of the LED producer’s stock worth $2,827,000 after buying an additional 5,650 shares during the period. Finally, Nationwide Fund Advisors increased its position in Cree by 2.1% in the first quarter. Nationwide Fund Advisors now owns 179,087 shares of the LED producer’s stock worth $4,787,000 after buying an additional 3,613 shares during the period. Institutional investors and hedge funds own 86.22% of the company’s stock.
Cree, Inc. (NASDAQ:CREE) traded up 0.83% during midday trading on Friday, reaching $24.19. The company had a trading volume of 482,998 shares. The firm has a 50-day moving average of $25.49 and a 200 day moving average of $25.49. The company’s market capitalization is $2.35 billion. Cree, Inc. has a 1-year low of $20.75 and a 1-year high of $31.64.
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CREE has been the subject of a number of research reports. Canaccord Genuity reiterated a “hold” rating and issued a $23.00 price objective on shares of Cree in a report on Friday, April 21st. Williams Capital decreased their price objective on Cree from $27.00 to $25.00 and set a “hold” rating for the company in a report on Wednesday, April 26th. Cowen and Company reiterated a “market perform” rating on shares of Cree in a report on Wednesday, April 26th. Deutsche Bank AG reiterated a “hold” rating and issued a $24.00 price objective (down previously from $28.00) on shares of Cree in a report on Saturday, April 29th. Finally, Zacks Investment Research downgraded Cree from a “hold” rating to a “strong sell” rating in a report on Monday, May 1st. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the stock. Cree has a consensus rating of “Hold” and an average target price of $25.00.
Cree Company Profile
Cree, Inc is a manufacturer of lighting-class light emitting diode (LED) products, lighting products and semiconductor products for power and radio-frequency (RF) applications. The Company’s products are focused for applications, such as indoor and outdoor lighting, video displays, transportation, electronic signs and signals, power supplies, inverters and wireless systems.
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