Brokerages Set Cree, Inc. (CREE) Target Price at $24.13

Cree, Inc. (NASDAQ:CREE) has earned a consensus recommendation of “Hold” from the sixteen analysts that are presently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $24.13.

A number of equities research analysts have recently issued reports on the stock. BidaskClub raised shares of 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 target price (up previously from $27.00) on shares of Cree in a research note on Tuesday, June 20th. TheStreet cut shares of Cree from a “c-” rating to a “d+” rating in a research note on Wednesday, May 17th. Zacks Investment Research upgraded shares of Cree from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 27th. Finally, Williams Capital decreased their target price on shares of Cree from $27.00 to $25.00 and set a “hold” rating on the stock in a research report on Wednesday, April 26th.

Shares of Cree (NASDAQ:CREE) traded up 0.26% during midday trading on Friday, hitting $22.86. The company’s stock had a trading volume of 209,004 shares. Cree has a 1-year low of $20.75 and a 1-year high of $31.64. The company has a 50-day moving average price of $25.36 and a 200 day moving average price of $25.35. The company’s market cap is $2.23 billion.

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A number of hedge funds have recently added to or reduced their stakes in the stock. Profund Advisors LLC raised its stake in Cree by 0.3% in the second quarter. Profund Advisors LLC now owns 33,127 shares of the LED producer’s stock valued at $817,000 after buying an additional 102 shares in the last quarter. AMG Funds LLC raised its stake in shares of Cree by 0.3% in the first quarter. AMG Funds LLC now owns 74,083 shares of the LED producer’s stock valued at $1,980,000 after buying an additional 213 shares during the period. Cambridge Investment Research Advisors Inc. raised its stake in shares of Cree by 1.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 18,982 shares of the LED producer’s stock valued at $507,000 after buying an additional 350 shares during the period. Wrapmanager Inc. raised its stake in shares of Cree by 3.3% in the second quarter. Wrapmanager Inc. now owns 11,081 shares of the LED producer’s stock valued at $273,000 after buying an additional 354 shares during the period. Finally, Clean Yield Group raised its stake in shares of Cree by 1.5% in the first quarter. Clean Yield Group now owns 27,815 shares of the LED producer’s stock valued at $743,000 after buying an additional 410 shares during the period. Institutional investors own 86.27% of the company’s stock.

Cree Company Profile

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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