Cree, Inc. Can Burn Your Long Portfolio. Option Traders Are Bearish

 Cree, Inc. Can Burn Your Long Portfolio. Option Traders Are Bearish

In today’s session Cree, Inc. (CREE) recorded an unusually high (1,353) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the January, 2017 put, expecting serious CREE decrease. With 1,353 contracts traded and 12024 open interest for the Jan, 17 contract, it seems this is a quite bearish bet. The option with symbol: CREE170120P00025000 closed last at: $1.15 or 2.5% down. About 325,067 shares traded hands. Cree, Inc. (NASDAQ:CREE) has risen 6.32% since April 25, 2016 and is uptrending. It has outperformed by 0.31% the S&P500.

Analysts await Cree, Inc. (NASDAQ:CREE) to report earnings on January, 17. They expect $0.08 earnings per share, down 55.56% or $0.10 from last year’s $0.18 per share. CREE’s profit will be $8.13M for 79.94 P/E if the $0.08 EPS becomes a reality. After $0.06 actual earnings per share 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 stock of Cree, Inc. (NASDAQ:CREE) has “Sell” rating given on Wednesday, August 17 by Goldman Sachs. JP Morgan downgraded Cree, Inc. (NASDAQ:CREE) on Friday, February 5 to “Neutral” rating. The stock of Cree, Inc. (NASDAQ:CREE) has “Buy” rating given on Thursday, August 25 by TH Capital. The stock of Cree, Inc. (NASDAQ:CREE) has “Market Perform” rating given on Wednesday, April 6 by Cowen & Co. The rating was initiated by Roth Capital on Thursday, August 25 with “Buy”. Deutsche Bank maintained the stock with “Hold” rating in Friday, July 15 report. The company was downgraded on Wednesday, August 17 by Northland Capital. Northland Capital upgraded the shares of CREE in a report on Thursday, February 4 to “Outperform” rating. As per Friday, September 23, the company rating was initiated by Canaccord Genuity. The firm has “Sell” rating given on Friday, November 6 by Goldman Sachs.

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 worsened, 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.
Timber Hill Limited Liability Corporation owns 13,321 shares or 0% of their US portfolio. Royal Natl Bank Of Canada holds 0% or 98,212 shares in its portfolio. Swiss Bank & Trust holds 0.01% of its portfolio in Cree, Inc. (NASDAQ:CREE) for 169,541 shares. Neuberger Berman Ltd Limited Liability Company owns 11,098 shares or 0% of their US portfolio. Goldman Sachs Grp Inc Inc holds 0% of its portfolio in Cree, Inc. (NASDAQ:CREE) for 110,400 shares. Broadview Advsrs Limited Co holds 26,475 shares or 0.1% of its portfolio. Assetmark holds 236 shares or 0% of its portfolio. Moreover, Federated Invsts Pa has 0% invested in Cree, Inc. (NASDAQ:CREE) for 56,726 shares. Renaissance Limited Co holds 0% of its portfolio in Cree, Inc. (NASDAQ:CREE) for 22,800 shares. Morgan Stanley owns 662,474 shares or 0.01% of their US portfolio. Amalgamated Bank holds 14,928 shares or 0.02% of its portfolio. The Maryland-based Proshare Ltd Liability has invested 0% in Cree, Inc. (NASDAQ:CREE). Parallax Volatility Advisers L P has invested 0% of its portfolio in Cree, Inc. (NASDAQ:CREE). Chicago Equity Ptnrs Ltd Liability Company holds 0.05% of its portfolio in Cree, Inc. (NASDAQ:CREE) for 65,230 shares. Ig Inv Mngmt Ltd holds 0% of its portfolio in Cree, Inc. (NASDAQ:CREE) for 2,429 shares.

Insider Transactions: Since August 17, 2016, the stock had 5 insider purchases, and 0 insider sales for $790,053 net activity. 5,000 shares were bought by REPLOGLE JOHN B, worth $116,650 on Wednesday, August 17. McDevitt Michael E had bought 5,000 shares worth $111,000 on Friday, October 21. 10,000 shares were bought by JACKSON DARREN R, worth $228,533 on Monday, October 24. On Thursday, October 20 the insider SWOBODA CHARLES M bought $222,170.

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 $2.60 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 3587.66 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 recent Cree, Inc. (NASDAQ:CREE) news were published by: Fool.com which released: “Why Cree, Inc. Fell 13.3% in October” on November 07, 2016. Also Natlawreview.com published the news titled: “Upcoming/New CFIUS Filing: Infineon Technologies and Cree, Inc.” on October 30, 2016. Equitiesfocus.com‘s news article titled: “Cree, Inc. (NASDAQ:CREE) 200-Day MA At $24.77” with publication date: November 27, 2016 was also an interesting one.

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