D.A. Davidson & CO. lessened its stake in Cree, Inc. (NASDAQ:CREE) by 1.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 26,009 shares of the LED producer’s stock after selling 513 shares during the quarter. D.A. Davidson & CO.’s holdings in Cree were worth $1,113,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. DekaBank Deutsche Girozentrale boosted its holdings 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 valued at $114,000 after purchasing an additional 1,558 shares during the last quarter. Bank of Montreal Can lifted its holdings in shares of Cree by 31.1% during the 4th quarter. Bank of Montreal Can now owns 4,010 shares of the LED producer’s stock valued at $172,000 after acquiring an additional 951 shares in the last quarter. Clean Yield Group acquired a new position in shares of Cree during the 4th quarter valued at $184,000. Tower Research Capital LLC TRC lifted its holdings in shares of Cree by 70.5% during the 3rd quarter. Tower Research Capital LLC TRC now owns 4,954 shares of the LED producer’s stock valued at $188,000 after acquiring an additional 2,049 shares in the last quarter. Finally, Physicians Financial Services Inc. acquired a new position in shares of Cree during the 4th quarter valued at $201,000.
Several equities analysts recently weighed in on the stock. Oppenheimer lifted their target price on shares of Cree from $53.00 to $59.00 and gave the company an “outperform” rating in a report on Thursday, January 31st. JMP Securities lowered shares of Cree from an “outperform” rating to a “market perform” rating and set a $49.32 target price on the stock. in a report on Tuesday, January 29th. They noted that the move was a valuation call. BidaskClub upgraded shares of Cree from a “buy” rating to a “strong-buy” rating in a report on Tuesday, January 29th. TheStreet upgraded shares of Cree from a “c” rating to a “b-” rating in a report on Wednesday, January 9th. Finally, JPMorgan Chase & Co. lowered shares of Cree from a “neutral” rating to an “underweight” rating and set a $35.00 target price on the stock. in a report on Friday, November 30th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. Cree has a consensus rating of “Buy” and an average target price of $49.09.
Cree stock opened at $51.05 on Wednesday. Cree, Inc. has a 12-month low of $30.78 and a 12-month high of $52.76. The firm has a market cap of $5.20 billion, a P/E ratio of -340.33, a PEG ratio of 6.86 and a beta of 0.60. The company has a current ratio of 4.33, a quick ratio of 3.27 and a debt-to-equity ratio of 0.21.
Cree (NASDAQ:CREE) last released its quarterly earnings results on Wednesday, January 30th. The LED producer reported $0.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 the consensus estimate of $408.75 million. During the same quarter in the previous year, the firm posted ($0.01) EPS. The firm’s quarterly revenue was up 12.3% on a year-over-year basis. On average, equities analysts expect that Cree, Inc. will post 0.37 EPS for the current fiscal year.
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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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