Cree (NASDAQ:CREE) has been assigned a $28.00 price objective by equities researchers at JPMorgan Chase & Co. in a research report issued on Wednesday. The brokerage currently has a “sell” rating on the LED producer’s stock. JPMorgan Chase & Co.’s price target indicates a potential downside of 13.93% from the company’s current price.

A number of other equities analysts have also weighed in on CREE. Roth Capital set a $35.00 price objective on shares of Cree and gave the company a “buy” rating in a research report on Monday, October 16th. JMP Securities set a $41.00 price objective on shares of Cree and gave the company a “buy” rating in a research report on Wednesday, October 18th. Bank of America boosted their price objective on shares of Cree from $31.00 to $32.00 and gave the company a “neutral” rating in a research report on Wednesday, October 18th. Oppenheimer reissued a “hold” rating on shares of Cree in a research report on Wednesday, October 18th. Finally, Williams Capital lowered shares of Cree from a “hold” rating to a “sell” rating and set a $27.00 price objective for the company. in a research report on Thursday, October 19th. Six research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $30.42.

Cree (NASDAQ CREE) opened at $32.53 on Wednesday. The company has a current ratio of 4.59, a quick ratio of 3.48 and a debt-to-equity ratio of 0.05. The stock has a market cap of $3,230.00, a PE ratio of -28.54 and a beta of 0.94. Cree has a 52-week low of $20.50 and a 52-week high of $40.24.

Cree (NASDAQ:CREE) last announced its earnings results on Tuesday, January 23rd. The LED producer reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.02). The business had revenue of $367.87 million for the quarter, compared to analyst estimates of $349.62 million. Cree had a negative return on equity of 1.24% and a negative net margin of 7.77%. The business’s revenue was down 8.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.30 EPS. equities analysts expect that Cree will post -0.37 EPS for the current year.

A number of hedge funds have recently modified their holdings of CREE. Iridian Asset Management LLC CT acquired a new position in Cree during the fourth quarter worth approximately $53,313,000. State Street Corp increased its position in Cree by 24.2% during the second quarter. State Street Corp now owns 3,688,186 shares of the LED producer’s stock worth $90,915,000 after purchasing an additional 717,698 shares during the last quarter. Victory Capital Management Inc. acquired a new position in Cree during the third quarter worth approximately $13,405,000. Dimensional Fund Advisors LP increased its position in Cree by 5.6% during the third quarter. Dimensional Fund Advisors LP now owns 8,220,052 shares of the LED producer’s stock worth $231,723,000 after purchasing an additional 435,401 shares during the last quarter. Finally, Artisan Partners Limited Partnership acquired a new position in Cree during the third quarter worth approximately $11,261,000. 98.99% of the stock is owned by hedge funds and other institutional investors.

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About Cree

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.

Analyst Recommendations for Cree (NASDAQ:CREE)

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