Cree, Inc. (CREE) Holdings Lifted by American International Group Inc.
American International Group Inc. boosted its holdings in Cree, Inc. (NASDAQ:CREE) by 3.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 265,354 shares of the LED producer’s stock after buying an additional 7,913 shares during the period. American International Group Inc. owned approximately 0.27% of Cree worth $7,480,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Louisiana State Employees Retirement System grew its holdings in shares of Cree by 3.3% during the 2nd quarter. Louisiana State Employees Retirement System now owns 25,400 shares of the LED producer’s stock worth $626,000 after purchasing an additional 800 shares in the last quarter. Zacks Investment Management acquired a new stake in shares of Cree during the 2nd quarter worth approximately $1,069,000. Alliancebernstein L.P. grew its holdings in shares of Cree by 108.4% during the 2nd quarter. Alliancebernstein L.P. now owns 155,105 shares of the LED producer’s stock worth $3,823,000 after purchasing an additional 80,681 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Cree by 26.8% during the 2nd quarter. BlackRock Inc. now owns 10,245,032 shares of the LED producer’s stock worth $252,541,000 after purchasing an additional 2,164,847 shares in the last quarter. Finally, Arizona State Retirement System grew its holdings in shares of Cree by 1.2% during the 2nd quarter. Arizona State Retirement System now owns 41,000 shares of the LED producer’s stock worth $1,011,000 after purchasing an additional 500 shares in the last quarter. 98.91% of the stock is currently owned by institutional investors.
Shares of Cree, Inc. (CREE) opened at $35.66 on Friday. The company has a quick ratio of 3.61, a current ratio of 4.82 and a debt-to-equity ratio of 0.06. Cree, Inc. has a one year low of $20.50 and a one year high of $37.50.
Cree (NASDAQ:CREE) last announced its quarterly earnings results on Tuesday, October 17th. The LED producer reported $0.04 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.04. The business had revenue of $360.00 million for the quarter, compared to analyst estimates of $360.01 million. Cree had a negative return on equity of 0.44% and a negative net margin of 8.42%. Cree’s quarterly revenue was down 3.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.09 EPS. equities analysts predict that Cree, Inc. will post -0.27 EPS for the current year.
Several brokerages have recently weighed in on CREE. TheStreet raised Cree from a “d+” rating to a “c-” rating in a report on Wednesday, September 27th. Northland Securities reissued a “hold” rating and set a $28.00 price objective on shares of Cree in a report on Thursday, September 28th. BidaskClub lowered Cree from a “hold” rating to a “sell” rating in a report on Wednesday, August 23rd. Bank of America decreased their price objective on Cree from $28.00 to $26.00 and set a “neutral” rating on the stock in a report on Wednesday, August 23rd. Finally, Needham & Company LLC reissued a “hold” rating on shares of Cree in a report on Tuesday, September 26th. Seven equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the stock. Cree has a consensus rating of “Hold” and an average target price of $27.50.
COPYRIGHT VIOLATION NOTICE: This story was first published by Daily Political and is owned by of Daily Political. If you are accessing this story on another site, it was copied illegally and reposted in violation of U.S. and international copyright & trademark law. The original version of this story can be viewed at https://www.dailypolitical.com/2017/12/02/cree-inc-cree-holdings-lifted-by-american-international-group-inc.html.
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.
Want to see what other hedge funds are holding CREE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cree, Inc. (NASDAQ:CREE).
Receive News & Ratings for Cree Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cree Inc. and related companies with MarketBeat.com's FREE daily email newsletter.