Price Action Report: Is Cree, Inc. a Sell? The Stock Reaches 52 Week Low Today

Price Action Report: Is Cree, Inc. a Sell? The Stock Reaches 52 Week Low Today

The stock of Cree, Inc. (NASDAQ:CREE) hit a new 52-week low and has $19.76 target or 7.00% below today’s $21.25 share price. The 9 months bearish chart indicates high risk for the $2.06B company. The 1-year low was reported on Nov, 2 by Barchart.com. If the $19.76 price target is reached, the company will be worth $144.20 million 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 894,951 shares traded hands. Cree, Inc. (NASDAQ:CREE) has declined 25.50% since March 31, 2016 and is downtrending. It has underperformed by 28.02% the S&P500.

Cree, Inc. (NASDAQ:CREE) Ratings Coverage

Out of 13 analysts covering Cree Inc. (NASDAQ:CREE), 3 rate it a “Buy”, 1 “Sell”, while 9 “Hold”. This means 23% are positive. Cree Inc. has been the topic of 20 analyst reports since August 12, 2015 according to StockzIntelligence Inc. As per Thursday, February 4, the company rating was upgraded by Northland Capital. The stock of Cree, Inc. (NASDAQ:CREE) earned “Sell” rating by Goldman Sachs on Wednesday, August 17. The stock has “Market Perform” rating given by Northland Capital on Wednesday, August 17. The firm has “Hold” rating by Canaccord Genuity given on Friday, September 23. Cowen & Co maintained Cree, Inc. (NASDAQ:CREE) rating on Wednesday, April 6. Cowen & Co has “Market Perform” rating and $23 price target. The stock has “Hold” rating given by Williams Capital Group on Friday, September 30. The rating was maintained by UBS on Wednesday, October 19 with “Neutral”. The rating was maintained by Canaccord Genuity on Wednesday, January 20 with “Hold”. Deutsche Bank maintained the stock with “Hold” rating in Friday, July 15 report. Piper Jaffray upgraded the shares of CREE in a report on Monday, February 22 to “Overweight” rating.

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 fall, 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.
Barclays Pcl has invested 0% of its portfolio in Cree, Inc. (NASDAQ:CREE). Blackrock Mngmt Ltd Llc has 292,914 shares for 0.01% of their US portfolio. Thrivent For Lutherans holds 0% of its portfolio in Cree, Inc. (NASDAQ:CREE) for 14,193 shares. Mutual Of America Capital Mgmt Llc, a New York-based fund reported 74,585 shares. Capital Guardian, a California-based fund reported 84 shares. Ftb Advsr Inc has invested 0% of its portfolio in Cree, Inc. (NASDAQ:CREE). M&R Management Inc has invested 0% of its portfolio in Cree, Inc. (NASDAQ:CREE). Prudential Fincl last reported 0% of its portfolio in the stock. Utah Retirement has invested 0.01% of its portfolio in Cree, Inc. (NASDAQ:CREE). Nationwide Fund Advisors reported 176,774 shares or 0.02% of all its holdings. Commonwealth Of Pennsylvania School Empls Retrmt System owns 19,330 shares or 0.01% of their US portfolio. State Board Of Administration Of Florida Retirement last reported 164,803 shares in the company. Arizona State Retirement Sys holds 0.01% or 39,290 shares in its portfolio. Ahl Prns Llp owns 26,082 shares or 0.03% of their US portfolio. Amer And Management has 3,700 shares for 0.03% of their US portfolio.

Insider Transactions: Since August 17, 2016, the stock had 5 insider buys, and 0 sales for $790,053 net activity. $228,533 worth of Cree, Inc. (NASDAQ:CREE) was bought by JACKSON DARREN R on Monday, October 24. REPLOGLE JOHN B also bought $116,650 worth of Cree, Inc. (NASDAQ:CREE) on Wednesday, August 17. On Thursday, October 20 the insider SWOBODA CHARLES M bought $222,170. Shares for $111,000 were bought by McDevitt Michael E.

More important recent Cree, Inc. (NASDAQ:CREE) news were published by: Natlawreview.com which released: “Upcoming/New CFIUS Filing: Infineon Technologies and Cree, Inc.” on October 30, 2016, also Nasdaq.com published article titled: “Earnings Reaction History: Cree, Inc., 85.7% Follow-Through Indicator, 10.6 …”, Investorplace.com published: “Trade of the Day: Cree, Inc. (CREE) a Perfect Short Setup” on October 21, 2016. More interesting news about Cree, Inc. (NASDAQ:CREE) was released by: Schaeffersresearch.com and their article: “Analyst Downgrades: Cree, Inc., First Solar, Inc., and Intel Corporation” with publication date: October 19, 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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