Cree Inc. (NASDAQ:CREE) shares traded up 12.3% during trading on Thursday . The stock traded as high as $28.32 and last traded at $28.17, with a volume of 3,838,503 shares traded. The stock had previously closed at $25.08.

Several research analysts have commented on the stock. Credit Suisse Group AG decreased their target price on shares of Cree from $60.00 to $50.00 and set a “neutral” rating for the company in a report on Monday, March 28th. Wedbush decreased their target price on shares of Cree from $77.00 to $73.00 and set an “outperform” rating for the company in a report on Monday, March 28th. Canaccord Genuity decreased their target price on shares of Cree from $26.00 to $24.00 and set a “hold” rating for the company in a report on Wednesday, April 6th. Cowen and Company decreased their target price on shares of Cree from $25.00 to $23.00 and set a “market perform” rating for the company in a report on Wednesday, April 6th. Finally, Deutsche Bank AG raised their target price on shares of Cree from $23.00 to $26.00 and gave the stock a “hold” rating in a report on Friday. 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 stock. The company presently has a consensus rating of “Hold” and an average price target of $33.69.

The company’s 50-day moving average is $24.69 and its 200 day moving average is $26.37. The company’s market cap is $2.78 billion.

Cree (NASDAQ:CREE) last posted its earnings results on Tuesday, April 26th. The LED producer reported $0.17 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.03. During the same quarter in the previous year, the firm posted $0.22 earnings per share. The company had revenue of $367 million for the quarter, compared to analyst estimates of $370.49 million. Cree’s quarterly revenue was down 10.4% compared to the same quarter last year. Analysts forecast that Cree Inc. will post $0.87 EPS for the current year.

Other institutional investors recently bought and sold shares of the company. Dimensional Fund Advisors LP raised 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 raised 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 raised 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 raised 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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