Cree (CREE) – Investment Analysts’ Weekly Ratings Changes

Share on StockTwits

Cree (NASDAQ: CREE) recently received a number of ratings updates from brokerages and research firms:

  • 11/30/2019 – Cree was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 11/21/2019 – Cree had its “buy” rating reaffirmed by analysts at Canaccord Genuity. They now have a $57.00 price target on the stock.
  • 11/20/2019 – Cree was upgraded by analysts at ValuEngine from a “buy” rating to a “strong-buy” rating.
  • 11/18/2019 – Cree was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. They now have a $53.00 price target on the stock. According to Zacks, “Cree reported stellar Q1 results. However, the top and the bottom line declined year over year. Downside in LED Products revenues weighed on revenues. Further, Cree provided bleak guidance for fiscal second quarter. The effect of export restrictions on Huawei due to the U.S.-China trade dispute remains a headwind. Also, weaker-than-expected demand for the company’s Wolfspeed products dented the outlook. However, Cree is benefiting from the buyout of Infineon Technologies’ RF Power Division that expanded Wolfspeed portfolio with robust power and RF GaN-on-SiC power solutions. The company’s cost cutting measures and recovery in utilization rates remain tailwinds. Also, cross licensing agreements are expected to bolster adoption and drive the top line. Notably, shares of the company have outperformed the industry in the past year.”
  • 11/1/2019 – Cree was downgraded by analysts at TheStreet from a “c” rating to a “d+” rating.
  • 11/1/2019 – Cree was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 10/31/2019 – Cree was downgraded by analysts at JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating. They now have a $40.00 price target on the stock, down previously from $43.00.
  • 10/31/2019 – Cree had its price target lowered by analysts at BMO Capital Markets to $45.00. They now have a “market perform” rating on the stock.
  • 10/31/2019 – Cree had its price target lowered by analysts at Canaccord Genuity from $64.00 to $57.00. They now have a “buy” rating on the stock.
  • 10/31/2019 – Cree had its price target lowered by analysts at Roth Capital from $67.00 to $61.00.
  • 10/11/2019 – Cree is now covered by analysts at Wells Fargo & Co. They set a “market perform” rating and a $50.00 price target on the stock.

CREE opened at $44.58 on Monday. Cree, Inc. has a 12 month low of $38.67 and a 12 month high of $69.21. The company has a current ratio of 5.57, a quick ratio of 4.82 and a debt-to-equity ratio of 0.23. The business’s 50-day moving average price is $46.40 and its 200-day moving average price is $52.44. The company has a market cap of $4.70 billion, a P/E ratio of 123.83 and a beta of 0.88.

Cree (NASDAQ:CREE) last posted its quarterly earnings results on Wednesday, October 30th. The LED producer reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.02. The business had revenue of $242.80 million for the quarter, compared to analyst estimates of $239.48 million. Cree had a negative return on equity of 0.20% and a negative net margin of 34.02%. Cree’s revenue for the quarter was down 11.5% compared to the same quarter last year. During the same period last year, the company earned $0.22 EPS. Equities research analysts forecast that Cree, Inc. will post -0.78 earnings per share for the current fiscal year.

In other news, Director Duy Loan T. Le bought 2,000 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were purchased at an average price of $45.87 per share, for a total transaction of $91,740.00. Following the completion of the acquisition, the director now owns 13,659 shares of the company’s stock, valued at $626,538.33. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.36% of the company’s stock.

Several large investors have recently modified their holdings of CREE. Prudential Financial Inc. grew its stake in shares of Cree by 0.3% in the second quarter. Prudential Financial Inc. now owns 65,596 shares of the LED producer’s stock worth $3,685,000 after purchasing an additional 170 shares during the last quarter. Municipal Employees Retirement System of Michigan lifted its holdings in Cree by 1.1% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 19,080 shares of the LED producer’s stock worth $1,072,000 after buying an additional 200 shares during the period. Eqis Capital Management Inc. grew its position in shares of Cree by 2.4% in the 3rd quarter. Eqis Capital Management Inc. now owns 8,754 shares of the LED producer’s stock worth $429,000 after buying an additional 206 shares during the last quarter. Vestmark Advisory Solutions Inc. grew its position in shares of Cree by 1.6% in the 2nd quarter. Vestmark Advisory Solutions Inc. now owns 13,582 shares of the LED producer’s stock worth $763,000 after buying an additional 212 shares during the last quarter. Finally, Shilanski & Associates Inc. increased its stake in shares of Cree by 2.3% during the third quarter. Shilanski & Associates Inc. now owns 14,104 shares of the LED producer’s stock valued at $691,000 after buying an additional 317 shares during the period. 97.44% of the stock is owned by hedge funds and other institutional investors.

Cree, Inc provides lighting-class light emitting diode (LED), lighting, and semiconductor products for power and radio-frequency (RF) applications in the United States, China, Europe, South Korea, Japan, Malaysia, Taiwan, and internationally. It operates in three segments: Wolfspeed, LED Products, and Lighting Products.

Further Reading: What is the Coverage Ratio?

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.