Analysts forecast that Cree, Inc. (NASDAQ:CREE) will announce earnings of ($0.09) per share for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for Cree’s earnings. Cree reported earnings per share of $0.06 in the same quarter last year, which suggests a negative year-over-year growth rate of 250%. The business is scheduled to announce its next quarterly earnings results after the market closes on Tuesday, August 22nd.
On average, analysts expect that Cree will report full year earnings of $0.03 per share for the current year. For the next fiscal year, analysts forecast that the company will report earnings of $0.20 per share. Zacks’ EPS averages are a mean average based on a survey of research firms that cover Cree.
CREE has been the topic of several research reports. BidaskClub upgraded Cree from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. Roth Capital restated a “buy” rating and set a $29.00 price target (up from $27.00) on shares of Cree in a research report on Tuesday, June 20th. TheStreet lowered Cree from a “c-” rating to a “d+” rating in a research report on Wednesday, May 17th. Zacks Investment Research upgraded Cree from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 27th. Finally, Williams Capital dropped their price target on Cree from $27.00 to $25.00 and set a “hold” rating on the stock in a research report on Wednesday, April 26th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $25.00.
Shares of Cree (NASDAQ CREE) traded up 0.93% during trading on Thursday, hitting $26.15. The stock had a trading volume of 605,593 shares. Cree has a 52 week low of $20.75 and a 52 week high of $31.64. The firm has a 50 day moving average price of $25.44 and a 200-day moving average price of $25.50. The stock’s market capitalization is $2.54 billion.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Russell Investments Group Ltd. acquired a new position in Cree during the fourth quarter valued at $651,000. Thrivent Financial for Lutherans boosted its position in Cree by 7.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 16,930 shares of the LED producer’s stock valued at $447,000 after buying an additional 1,180 shares in the last quarter. Norges Bank acquired a new position in Cree during the fourth quarter valued at $14,662,000. Quadrature Capital Ltd acquired a new position in Cree during the fourth quarter valued at $930,000. Finally, Teachers Advisors LLC boosted its position in Cree by 5.6% in the fourth quarter. Teachers Advisors LLC now owns 107,133 shares of the LED producer’s stock valued at $2,827,000 after buying an additional 5,650 shares in the last quarter. Hedge funds and other institutional investors own 86.22% of the company’s stock.
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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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