Thrivent Financial For Lutherans Buys 1,300 Shares of Cree, Inc. (NASDAQ:CREE)
Thrivent Financial For Lutherans increased its stake in Cree, Inc. (NASDAQ:CREE) by 7.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,230 shares of the LED producer’s stock after buying an additional 1,300 shares during the period. Thrivent Financial For Lutherans’ holdings in Cree were worth $487,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in CREE. AMG Funds LLC increased its stake in shares of Cree by 0.3% in the first quarter. AMG Funds LLC now owns 74,083 shares of the LED producer’s stock valued at $1,980,000 after buying an additional 213 shares during the period. Clean Yield Group increased its stake in shares of Cree by 1.5% in the first quarter. Clean Yield Group now owns 27,815 shares of the LED producer’s stock valued at $743,000 after buying an additional 410 shares during the period. Oregon Public Employees Retirement Fund increased its stake in shares of Cree by 1.4% in the first quarter. Oregon Public Employees Retirement Fund now owns 35,644 shares of the LED producer’s stock valued at $953,000 after buying an additional 500 shares during the period. Wedge Capital Management L L P NC increased its stake in shares of Cree by 3.6% in the first quarter. Wedge Capital Management L L P NC now owns 23,087 shares of the LED producer’s stock valued at $617,000 after buying an additional 802 shares during the period. Finally, Riverbridge Partners LLC increased its stake in shares of Cree by 1.7% in the first quarter. Riverbridge Partners LLC now owns 52,951 shares of the LED producer’s stock valued at $1,415,000 after buying an additional 899 shares during the period. 86.04% of the stock is currently owned by institutional investors and hedge funds.
Shares of Cree, Inc. (CREE) opened at 26.46 on Friday. The firm’s market capitalization is $2.58 billion. Cree, Inc. has a 52-week low of $20.75 and a 52-week high of $31.64. The company has a 50-day moving average price of $25.06 and a 200 day moving average price of $25.57.
Cree (NASDAQ:CREE) last announced its earnings results on Tuesday, April 25th. The LED producer reported ($0.11) EPS for the quarter, missing the consensus estimate of $0.09 by $0.20. The business had revenue of $341.51 million during the quarter, compared to analyst estimates of $339.41 million. Cree had a positive return on equity of 0.33% and a negative net margin of 7.36%. The firm’s revenue was down 6.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.17 earnings per share. Analysts expect that Cree, Inc. will post $0.48 EPS for the current fiscal year.
Several brokerages recently issued reports on CREE. Cowen and Company reissued a “market perform” rating on shares of Cree in a report on Wednesday, April 26th. Roth Capital reissued a “buy” rating and issued a $29.00 price target (up previously from $27.00) on shares of Cree in a report on Tuesday, June 20th. J P Morgan Chase & Co reissued a “neutral” rating and issued a $26.00 price target (up previously from $25.00) on shares of Cree in a report on Monday, June 5th. JMP Securities raised Cree from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $23.81 to $29.00 in a report on Monday, May 22nd. Finally, TheStreet downgraded Cree from a “c-” rating to a “d+” rating in a report on Wednesday, May 17th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $25.00.
In other Cree news, Director John B. Replogle bought 10,000 shares of Cree stock in a transaction dated Thursday, April 27th. The shares were acquired at an average cost of $22.11 per share, with a total value of $221,100.00. Following the acquisition, the director now directly owns 64,043 shares of the company’s stock, valued at $1,415,990.73. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.30% of the stock is owned by insiders.
Cree Company Profile
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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