The stock of Cree, Inc. (NASDAQ:CREE) is a huge mover today! About 166,377 shares traded hands. Cree, Inc. (NASDAQ:CREE) has risen 3.02% since April 22, 2016 and is uptrending. It has underperformed by 2.39% the S&P500.
The move comes after 5 months positive chart setup for the $2.55B company. It was reported on Nov, 25 by Barchart.com. We have $26.82 PT which if reached, will make NASDAQ:CREE worth $102.00 million more.
Analysts await Cree, Inc. (NASDAQ:CREE) to report earnings on January, 17. They expect $0.08 EPS, down 55.56% or $0.10 from last year’s $0.18 per share. CREE’s profit will be $7.91M for 80.59 P/E if the $0.08 EPS becomes a reality. After $0.06 actual EPS reported by Cree, Inc. for the previous quarter, Wall Street now forecasts 33.33% EPS growth.
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. The firm earned “Equal-Weight” rating on Wednesday, October 19 by Stephens. As per Friday, February 5, the company rating was downgraded by JP Morgan. The firm earned “Sector Perform” rating on Friday, May 13 by Pacific Crest. Canaccord Genuity maintained Cree, Inc. (NASDAQ:CREE) rating on Wednesday, January 20. Canaccord Genuity has “Hold” rating and $26 price target. Deutsche Bank maintained Cree, Inc. (NASDAQ:CREE) rating on Friday, July 15. Deutsche Bank has “Hold” rating and $26 price target. The rating was initiated by Canaccord Genuity on Friday, September 23 with “Hold”. The rating was downgraded by Goldman Sachs to “Sell” on Friday, November 6. The firm has “Market Perform” rating by Northland Capital given on Wednesday, August 17. The rating was initiated by Roth Capital with “Buy” on Thursday, August 25. The firm earned “Neutral” rating on Wednesday, October 19 by UBS.
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 0.89 in 2016 Q2. Its down 0.09, from 0.98 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.
Rhumbline Advisers last reported 0.01% of its portfolio in the stock. Oregon Pub Employees Retirement Fund has 34,452 shares for 0.02% of their US portfolio. Ftb Incorporated holds 700 shares or 0% of its portfolio. M&R Cap has 0% invested in the company for 300 shares. The Illinois-based Nuveen Asset Llc has invested 0.01% in Cree, Inc. (NASDAQ:CREE). Proshare Advisors Limited Com last reported 15,187 shares in the company. Capstone Invest Advsrs Limited Liability Com has 10,483 shares for 0% of their US portfolio. Ibm Retirement Fund reported 10,036 shares or 0.01% of all its holdings. Ig Invest Management has invested 0% of its portfolio in Cree, Inc. (NASDAQ:CREE). Public Employees Retirement Association Of Colorado holds 0% of its portfolio in Cree, Inc. (NASDAQ:CREE) for 20,050 shares. Teachers Retirement Of The State Of Kentucky holds 0.01% or 22,300 shares in its portfolio. Valley National Advisers has 0% invested in the company for 118 shares. Frontier Capital Mgmt Limited Liability Co holds 0.14% of its portfolio in Cree, Inc. (NASDAQ:CREE) for 676,540 shares. The Pennsylvania-based Glenmede Com Na has invested 0% in Cree, Inc. (NASDAQ:CREE). The Tennessee-based Livingston Group Asset Mgmt Com (Operating As Southport Management) has invested 0.02% in Cree, Inc. (NASDAQ:CREE).
Insider Transactions: Since August 17, 2016, the stock had 5 insider purchases, and 0 sales for $790,053 net activity. Another trade for 5,000 shares valued at $116,650 was bought by REPLOGLE JOHN B. The insider JACKSON DARREN R bought $228,533. The insider McDevitt Michael E bought $111,000. 10,000 Cree, Inc. (NASDAQ:CREE) shares with value of $222,170 were bought by SWOBODA CHARLES M.
More news for Cree, Inc. (NASDAQ:CREE) were recently published by: Fool.com, which released: “Why Cree, Inc. Fell 13.3% in October” on November 07, 2016. Natlawreview.com‘s article titled: “Upcoming/New CFIUS Filing: Infineon Technologies and Cree, Inc.” and published on October 30, 2016 is yet another important article.
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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