Equities research analysts expect Cree, Inc. (NASDAQ:CREE) to report ($0.09) earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Cree’s earnings. Cree posted earnings of $0.06 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 250%. The firm is scheduled to report its next earnings report 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 financial year. For the next year, analysts expect that the business will report earnings of $0.20 per share. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that that provide coverage for Cree.
Several research analysts have recently weighed in on the company. Cowen and Company reissued a “market perform” rating on shares of Cree in a research report on Wednesday, April 26th. Roth Capital reissued a “buy” rating and issued a $29.00 price objective (up from $27.00) on shares of Cree in a research report on Tuesday, June 20th. J P Morgan Chase & Co reissued a “neutral” rating and issued a $26.00 price objective (up from $25.00) on shares of Cree in a research report on Monday, June 5th. JMP Securities raised Cree from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $23.81 to $29.00 in a research report on Monday, May 22nd. Finally, TheStreet lowered Cree from a “c-” rating to a “d+” rating in a research report on Wednesday, May 17th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $25.00.
Several large investors have recently bought and sold shares of CREE. Advisory Services Network LLC bought a new stake in Cree during the first quarter worth approximately $134,000. Strs Ohio bought a new stake in Cree during the second quarter worth approximately $140,000. LS Investment Advisors LLC boosted its stake in Cree by 17.9% in the second quarter. LS Investment Advisors LLC now owns 7,643 shares of the LED producer’s stock worth $188,000 after buying an additional 1,160 shares during the period. Oppenheimer Asset Management Inc. bought a new stake in Cree during the first quarter worth approximately $249,000. Finally, Wrapmanager Inc. boosted its stake in Cree by 3.3% in the second quarter. Wrapmanager Inc. now owns 11,081 shares of the LED producer’s stock worth $273,000 after buying an additional 354 shares during the period. 86.22% of the stock is currently owned by institutional investors.
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Shares of Cree (NASDAQ CREE) traded down 2.04% during midday trading on Thursday, hitting $23.99. The company had a trading volume of 820,841 shares. The stock’s 50-day moving average price is $25.49 and its 200-day moving average price is $25.49. The stock’s market capitalization is $2.33 billion. Cree has a one year low of $20.75 and a one year high of $31.64.
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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