Cree Inc. (NASDAQ:CREE) shares saw unusually-strong trading volume on Tuesday . Approximately 2,001,875 shares changed hands during trading, an increase of 121% from the previous session’s volume of 906,728 shares.The stock last traded at $27.48 and had previously closed at $28.04.

Several research analysts have recently weighed in on CREE shares. Oppenheimer Holdings Inc. restated a “hold” rating on shares of Cree in a research note on Tuesday, April 19th. Needham & Company LLC restated a “hold” rating on shares of Cree in a research note on Monday, April 25th. Canaccord Genuity restated a “hold” rating on shares of Cree in a research note on Wednesday, April 27th. Zacks Investment Research lowered shares of Cree from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 27th. Finally, Pacific Crest started coverage on shares of Cree in a research note on Friday, May 13th. They set a “sector perform” rating and a $23.00 price objective on the stock. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $33.69.

The stock’s market capitalization is $2.76 billion. The firm has a 50 day moving average price of $27.01 and a 200 day moving average price of $26.69.

Cree (NASDAQ:CREE) last posted its quarterly earnings data on Tuesday, August 16th. The LED producer reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by $0.01. The company had revenue of $388.40 million for the quarter, compared to analyst estimates of $385.83 million. The business’s revenue was up 1.6% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.19) EPS. On average, analysts forecast that Cree Inc. will post $0.88 earnings per share for the current year.

Several institutional investors have bought and sold shares of CREE. Mutual of America Capital Management LLC raised its position in Cree by 1.0% in the fourth quarter. Mutual of America Capital Management LLC now owns 69,329 shares of the LED producer’s stock worth $1,849,000 after buying an additional 720 shares during the period. 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 worth $1,225,000 after buying an additional 7,057 shares during the period. 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 worth $15,402,000 after buying an additional 13,702 shares during the period. Russell Frank Co raised its position in Cree by 80.5% in the fourth quarter. Russell Frank Co now owns 68,802 shares of the LED producer’s stock worth $1,893,000 after buying an additional 30,694 shares during the period. Finally, 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 worth $7,153,000 after buying an additional 79,500 shares during the period.

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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