Price Action Report: A Reversal for Cree, Inc. Is Not Near. The Stock Reaches 52-Week Low Today


Price Action Report: A Reversal for Cree, Inc. Is Not Near. The Stock Reaches 52 Week Low Today

The stock of Cree, Inc. (NASDAQ:CREE) hit a new 52-week low and has $20.49 target or 9.00% below today’s $22.52 share price. The 8 months bearish chart indicates high risk for the $2.31 billion company. The 1-year low was reported on Oct, 19 by If the $20.49 price target is reached, the company will be worth $207.90M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 4.17M shares traded hands or 404.57% up from the average. Cree, Inc. (NASDAQ:CREE) has declined 14.26% since March 16, 2016 and is downtrending. It has underperformed by 19.80% the S&P500.

Cree, Inc. (NASDAQ:CREE) Ratings Coverage

Out of 12 analysts covering Cree Inc. (NASDAQ:CREE), 3 rate it a “Buy”, 2 “Sell”, while 7 “Hold”. This means 25% are positive. Cree Inc. has been the topic of 18 analyst reports since August 12, 2015 according to StockzIntelligence Inc. As per Wednesday, January 20, the company rating was maintained by Canaccord Genuity. JP Morgan downgraded the stock to “Neutral” rating in Friday, February 5 report. The firm has “Sell” rating given on Wednesday, August 17 by Goldman Sachs. The rating was maintained by Deutsche Bank with “Hold” on Friday, July 15. The company was initiated on Thursday, August 25 by Roth Capital. The rating was downgraded by Northland Capital on Wednesday, August 17 to “Market Perform”. As per Thursday, February 4, the company rating was upgraded by Northland Capital. Piper Jaffray upgraded Cree, Inc. (NASDAQ:CREE) rating on Monday, February 22. Piper Jaffray has “Overweight” rating and $37 price target. The stock has “Sell” rating given by Goldman Sachs on Friday, November 6. As per Wednesday, April 6, the company rating was maintained by Cowen & Co.

According to Zacks Investment Research, “Cree, Inc. is a market-leading innovator and manufacturer of semiconductors that enhance the value of solid-state lighting, power and communications products by significantly increasing their energy performance and efficiency. Key to Cree’s market advantage is its world-class materials expertise in silicon carbide and gallium nitride for chips and packaged devices that can handle more power in a smaller space while producing less heat than other available technologies, materials and products. Cree drives its increased performance technology into multiple applications, including exciting alternatives in brighter and more-tunable light for general illumination, backlighting for more-vivid displays, optimized power management for high-current switch-mode power supplies and variable-speed motors, and more-effective wireless infrastructure for data and voice communications. Cree customers range from innovative lighting-fixtures makers to defense-related federal agencies.”

Insitutional Activity: The institutional sentiment decreased to 0.98 in Q2 2016. Its down 0.23, from 1.21 in 2016Q1. The ratio is negative, as 40 funds sold all Cree, Inc. shares owned while 81 reduced positions. 29 funds bought stakes while 89 increased positions. They now own 83.30 million shares or 3.78% less from 86.57 million shares in 2016Q1.
Cambridge Inv Research, a Iowa-based fund reported 11,942 shares. Raymond James & owns 412,018 shares or 0.03% of their US portfolio. Kcg Holdg Inc last reported 0.01% of its portfolio in the stock. Canada Pension Plan Board last reported 0.05% of its portfolio in the stock. Bnp Paribas Partners Sa accumulated 0.02% or 90,300 shares. Kbc Grp Nv, a Belgium-based fund reported 27,004 shares. Invesco Limited last reported 397,478 shares in the company. Investment Mgmt Of Virginia Limited Liability Co has 1.37% invested in the company for 219,806 shares. Tci Wealth holds 0% of its portfolio in Cree, Inc. (NASDAQ:CREE) for 4 shares. Cap Guardian has 0% invested in the company for 84 shares. Weaver C Barksdale And Assoc accumulated 289 shares or 0.01% of the stock. Van Eck Assoc Corp accumulated 147,050 shares or 0.02% of the stock. Vigilant Cap Mgmt Limited Com holds 0% of its portfolio in Cree, Inc. (NASDAQ:CREE) for 689 shares. Morgan Stanley has 662,474 shares for 0.01% of their US portfolio. Capital Inv Counsel Incorporated last reported 21,233 shares in the company.

Insider Transactions: Since August 17, 2016, the stock had 1 buy, and 0 selling transactions for $116,650 net activity. REPLOGLE JOHN B also bought $116,650 worth of Cree, Inc. (NASDAQ:CREE) shares.

More notable recent Cree, Inc. (NASDAQ:CREE) news were published by: which released: “Earnings Reaction History: Cree, Inc., 85.7% Follow-Through Indicator, 10.6 …” on October 18, 2016, also with their article: “Analyst Downgrades: Cree, Inc., First Solar, Inc., and Intel Corporation” published on October 19, 2016, published: “Cree shares drop as profit outlook falls short of Street targets” on October 18, 2016. More interesting news about Cree, Inc. (NASDAQ:CREE) were released by: and their article: “Cree Inc. (CREE) Is Dropping After Q1 Revenues Fell Short” published on October 18, 2016 as well as‘s news article titled: “Cree, Inc. Announces 2017 First Quarter Earnings Release Webcast” with publication date: October 11, 2016.

CREE Company Profile

Cree, Inc., incorporated on July 14, 1987, is a maker 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. The Firm has three divisions: Lighting Products, LED Products, and Power and RF Products. The Company’s Lighting Products segment offers LED lighting systems and bulbs. The Company’s LED Products segment offers LED components, LED chips and silicon carbide (SiC) materials. The Company’s Power and RF Products segment offers power devices and RF devices.

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