Louisiana State Employees Retirement System Buys 800 Shares of Cree, Inc. (NASDAQ:CREE)

Louisiana State Employees Retirement System boosted its stake in Cree, Inc. (NASDAQ:CREE) by 3.3% during the second quarter, according to its most recent filing with the SEC. The firm owned 25,400 shares of the LED producer’s stock after buying an additional 800 shares during the period. Louisiana State Employees Retirement System’s holdings in Cree were worth $626,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of CREE. BlackRock Inc. boosted its position in shares of Cree by 13,401.9% in the first quarter. BlackRock Inc. now owns 8,080,185 shares of the LED producer’s stock valued at $215,984,000 after buying an additional 8,020,340 shares in the last quarter. Vanguard Group Inc. boosted its stake in Cree by 2.5% in the first quarter. Vanguard Group Inc. now owns 7,990,764 shares of the LED producer’s stock valued at $213,594,000 after buying an additional 195,436 shares during the period. Dimensional Fund Advisors LP boosted its stake in Cree by 17.9% in the first quarter. Dimensional Fund Advisors LP now owns 6,886,898 shares of the LED producer’s stock valued at $184,088,000 after buying an additional 1,043,768 shares during the period. Fairpointe Capital LLC boosted its stake in Cree by 1.3% in the first quarter. Fairpointe Capital LLC now owns 5,577,766 shares of the LED producer’s stock valued at $149,094,000 after buying an additional 71,445 shares during the period. Finally, State Street Corp boosted its stake in Cree by 2.9% in the first quarter. State Street Corp now owns 2,970,488 shares of the LED producer’s stock valued at $79,400,000 after buying an additional 82,549 shares during the period. Hedge funds and other institutional investors own 86.52% of the company’s stock.

Cree, Inc. (NASDAQ:CREE) opened at 22.85 on Friday. Cree, Inc. has a 12 month low of $20.75 and a 12 month high of $31.64. The stock’s market cap is $2.22 billion. The firm has a 50-day moving average price of $25.07 and a 200-day moving average price of $25.15.

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CREE has been the topic of several recent analyst reports. Roth Capital reiterated a “buy” rating and issued a $29.00 price target (up previously from $27.00) on shares of Cree in a report on Tuesday, June 20th. Canaccord Genuity reiterated a “hold” rating and issued a $23.00 price target on shares of Cree in a report on Friday, April 21st. BidaskClub raised Cree from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. Deutsche Bank AG reissued a “hold” rating and set a $24.00 price objective (down previously from $28.00) on shares of Cree in a research report on Saturday, April 29th. Finally, Cowen and Company reissued a “market perform” rating on shares of Cree in a research report on Wednesday, April 26th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $25.00.

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.

Institutional Ownership by Quarter for Cree (NASDAQ:CREE)

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