Cree Inc. (NASDAQ:CREE) shares were up 2.5% on Thursday . The company traded as high as $25.12 and last traded at $25.05, with a volume of 560,416 shares trading hands. The stock had previously closed at $24.45.

A number of research analysts recently weighed in on CREE shares. Credit Suisse Group AG lowered their target price on shares of Cree from $60.00 to $50.00 and set a “neutral” rating on the stock in a research note on Monday, March 28th. Wedbush lowered their target price on shares of Cree from $77.00 to $73.00 and set an “outperform” rating on the stock in a research note on Monday, March 28th. Canaccord Genuity lowered their target price on shares of Cree from $26.00 to $24.00 and set a “hold” rating on the stock in a research note on Wednesday, April 6th. Cowen and Company lowered their target price on shares of Cree from $25.00 to $23.00 and set a “market perform” rating on the stock in a research note on Wednesday, April 6th. Finally, Deutsche Bank AG lowered their target price on shares of Cree from $27.00 to $23.00 and set a “hold” rating on the stock in a research note on Thursday, April 7th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $33.46.

The company’s market cap is $2.58 billion. The company has a 50-day moving average price of $24.33 and a 200 day moving average price of $26.42.

Cree (NASDAQ:CREE) last posted its quarterly earnings data on Tuesday, April 26th. The LED producer reported $0.17 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.03. During the same period in the previous year, the business earned $0.22 earnings per share. The company had revenue of $367 million for the quarter, compared to analysts’ expectations of $370.49 million. The business’s revenue for the quarter was down 10.4% on a year-over-year basis. Analysts anticipate that Cree Inc. will post $0.86 earnings per share for the current fiscal year.

A number of institutional investors recently bought and sold shares of CREE. Dimensional Fund Advisors LP increased its position in Cree by 50.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,162,172 shares of the LED producer’s stock valued at $57,669,000 after buying an additional 729,341 shares during the last quarter. Stephens Inc. AR increased its position in Cree by 18.1% in the fourth quarter. Stephens Inc. AR now owns 45,946 shares of the LED producer’s stock valued at $1,225,000 after buying an additional 7,057 shares during the last quarter. Royce & Associates LLC increased its position in Cree by 42.1% in the fourth quarter. Royce & Associates LLC now owns 268,200 shares of the LED producer’s stock valued at $7,153,000 after buying an additional 79,500 shares during the last quarter. Cornerstone Capital Management Holdings LLC. bought a new position in Cree during the fourth quarter valued at about $9,013,000. Finally, Morgan Stanley increased its position in Cree by 2.4% in the fourth quarter. Morgan Stanley now owns 577,459 shares of the LED producer’s stock valued at $15,402,000 after buying an additional 13,702 shares during the last quarter.

Cree, Inc is a manufacturer 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.

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