Cree, Inc. (CREE) Updates Q2 Earnings Guidance
Cree, Inc. (CREE) updated its second quarter earnings guidance on Tuesday. The company provided earnings per share guidance of $0.27-0.31 for the period.
Several analysts have also recently commented on the stock. Analysts at Cantor Fitzgerald cut their price target on shares of Cree from $46.00 to $42.00 in a research note to investors on Monday. They now have a buy rating on the stock. On a related note, analysts at Susquehanna cut their price target on shares of Cree from $40.00 to $36.00 in a research note to investors on Tuesday, October 9th. They now have a positive rating on the stock. Finally, analysts at UBS AG reiterated a neutral rating on shares of Cree in a research note to investors on Tuesday, October 9th. They now have a $28.00 price target on the stock.
Cree, Inc. (CREE) traded up 2.90% on Tuesday, hitting $26.1883. Cree, Inc. (CREE) has a 52-week low of $20.25 and a 52-week high of $33.45. The company has a market cap of $3.022 billion and a price-to-earnings ratio of 65.76.
Cree last posted its quarterly earnings results on Tuesday, October 16th. The company reported $0.27 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.26 by $0.01. The company’s quarterly revenue was up 17.4% on a year-over-year basis. Analysts expect that Cree, Inc. (CREE) will post $1.24 EPS for the current fiscal year.
Cree, Inc. (Cree) develops and manufactures semiconductor materials and devices primarily based on silicon carbide (SiC), gallium nitride (GaN) and related compounds.
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