Time to Buy Cree, Inc. After Today’s Option Traders Bet?

 Time to Buy Cree, Inc. After Today's Option Traders Bet?

In today’s session Cree, Inc. (CREE) registered an unusually high (423) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the January, 2017 call, expecting serious CREE increase. With 423 contracts traded and 9254 open interest for the Jan, 17 contract, it seems this is a quite bullish bet. The option with symbol: CREE170120C00025000 closed last at: $0.38 or 20.8% down. About 249,608 shares traded hands. Cree, Inc. (NASDAQ:CREE) has declined 28.09% since April 1, 2016 and is downtrending. It has underperformed by 29.30% 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. $37 is the highest target while $18 is the lowest. The $27 average target is 26.76% above today’s ($21.3) stock price. Cree Inc. has been the topic of 20 analyst reports since August 12, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating by TH Capital given on Thursday, August 25. The rating was maintained by Goldman Sachs with “Sell” on Wednesday, August 17. The stock has “Market Perform” rating given by Northland Capital on Wednesday, August 17. The firm has “Sector Perform” rating by Pacific Crest given on Friday, May 13. As per Thursday, February 4, the company rating was upgraded by Northland Capital. The stock of Cree, Inc. (NASDAQ:CREE) has “Overweight” rating given on Monday, February 22 by Piper Jaffray. Deutsche Bank maintained the stock with “Hold” rating in Friday, July 15 report. Canaccord Genuity initiated the stock with “Hold” rating in Friday, September 23 report. The firm earned “Hold” rating on Friday, September 30 by Williams Capital Group. The rating was downgraded by JP Morgan to “Neutral” on Friday, February 5.

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 2016 Q2. Its down 0.23, from 1.21 in 2016Q1. The ratio dropped, 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.
Reliance Tru Of Delaware accumulated 17,749 shares or 0.03% of the stock. Alexandria Cap Lc has 0% invested in the company for 11 shares. The New York-based New York State Common Retirement Fund has invested 0.01% in Cree, Inc. (NASDAQ:CREE). Goldman Sachs Grp Inc last reported 110,400 shares in the company. The New Jersey-based Prudential Fin has invested 0% in Cree, Inc. (NASDAQ:CREE). Pnc Financial Services has 0% invested in the company for 14,194 shares. Hudock Gru Ltd Liability holds 0.01% or 872 shares in its portfolio. Aston Asset Mngmt Limited Liability holds 1.19% of its portfolio in Cree, Inc. (NASDAQ:CREE) for 79,728 shares. One Trading L P owns 536 shares or 0% of their US portfolio. Hightower Advsrs Ltd accumulated 33,860 shares or 0.01% of the stock. Osborn Rohs Williams And Donohoe Ltd, a Ohio-based fund reported 9,000 shares. Citigroup has 69,271 shares for 0% of their US portfolio. Primecap Ca accumulated 0.24% or 9.13 million shares. Bb&T Limited has 14,034 shares for 0.01% of their US portfolio. Next Finance Gru reported 274 shares or 0% of all its holdings.

Insider Transactions: Since August 17, 2016, the stock had 5 insider buys, and 0 sales for $790,053 net activity. McDevitt Michael E bought $111,000 worth of Cree, Inc. (NASDAQ:CREE) on Friday, October 21. $228,533 worth of Cree, Inc. (NASDAQ:CREE) shares were bought by JACKSON DARREN R. Another trade for 5,000 shares valued at $111,700 was bought by REPLOGLE JOHN B. 10,000 shares were bought by SWOBODA CHARLES M, worth $222,170 on Thursday, October 20.

Cree, Inc. is a manufacturer of lighting-class light emitting diode products, lighting products and semiconductor products for power and radio-frequency (RF) applications. The company has a market cap of $2.06 billion. 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. It has a 2986.68 P/E ratio. The Firm has three divisions: Lighting Products, LED Products, and Power and RF Products.

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.

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.

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