Shares of Cree, Inc. (NASDAQ:CREE) have been assigned an average rating of “Hold” from the fifteen brokerages that are currently covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $24.13.
A number of equities research analysts have issued reports on CREE shares. Zacks Investment Research upgraded shares of Cree from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 27th. BidaskClub downgraded shares of Cree from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Williams Capital cut their target price on shares of Cree from $27.00 to $25.00 and set a “hold” rating for the company in a research report on Wednesday, April 26th. Deutsche Bank AG reiterated a “hold” rating and issued a $24.00 target price (down previously from $28.00) on shares of Cree in a research report on Saturday, April 29th. Finally, JMP Securities upgraded shares of Cree from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $23.81 to $29.00 in a research report on Monday, May 22nd.
Shares of Cree (CREE) traded down 0.87% on Tuesday, reaching $22.85. The company’s stock had a trading volume of 781,606 shares. The stock’s market capitalization is $2.22 billion. Cree has a 1-year low of $20.75 and a 1-year high of $31.64. The stock has a 50-day moving average of $25.07 and a 200 day moving average of $25.15.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. GAM Holding AG purchased a new position in Cree during the second quarter worth about $104,000. Advisory Services Network LLC purchased a new position in Cree during the first quarter worth about $134,000. Riverhead Capital Management LLC raised its position in Cree by 75.0% in the second quarter. Riverhead Capital Management LLC now owns 5,426 shares of the LED producer’s stock worth $134,000 after buying an additional 2,326 shares during the last quarter. Strs Ohio purchased a new position in Cree during the second quarter worth about $140,000. Finally, LS Investment Advisors LLC raised its position in Cree by 17.9% in the second quarter. LS Investment Advisors LLC now owns 7,643 shares of the LED producer’s stock worth $188,000 after buying an additional 1,160 shares during the last quarter. Institutional investors and hedge funds own 86.52% of the company’s stock.
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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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