November 29, 2016 - By Clifton Ray · 0 Comments
Cree Inc (NASDAQ:CREE) institutional sentiment decreased to 0.89 in 2016 Q2. Its down -0.09, from 0.98 in 2016Q1. The ratio dropped, as 118 hedge funds increased and started new equity positions, while 121 sold and trimmed equity positions in Cree Inc. The hedge funds in our partner’s database now have: 83.30 million shares, down from 86.57 million shares in 2016Q1. Also, the number of hedge funds holding Cree Inc in their top 10 equity positions was flat from 2 to 2 for the same number . Sold All: 40 Reduced: 81 Increased: 89 New Position: 29.
Cree, Inc. is a manufacturer of lighting-class light emitting diode products, lighting products and semiconductor products for power and radio-frequency (RF) applications. The company has a market cap of $2.54 billion. 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. It has a 3588.36 P/E ratio. The Firm has three divisions: Lighting Products, LED Products, and Power and RF Products.
About 410,336 shares traded hands. Cree, Inc. (NASDAQ:CREE) has risen 4.15% since April 26, 2016 and is uptrending. It has underperformed by 1.11% the S&P500.
Analysts await Cree, Inc. (NASDAQ:CREE) to report earnings on January, 17. They expect $0.08 EPS, down 55.56% or $0.10 from last year’s $0.18 per share. CREE’s profit will be $7.94 million for 79.94 P/E if the $0.08 EPS becomes a reality. After $0.06 actual EPS reported by Cree, Inc. for the previous quarter, Wall Street now forecasts 33.33% EPS growth.
According to Zacks Investment Research, “Cree, Inc. is a market-leading innovator and manufacturer of semiconductors that enhance the value of solid-state lighting, power and communications products by significantly increasing their energy performance and efficiency. Key to Cree’s market advantage is its world-class materials expertise in silicon carbide and gallium nitride for chips and packaged devices that can handle more power in a smaller space while producing less heat than other available technologies, materials and products. Cree drives its increased performance technology into multiple applications, including exciting alternatives in brighter and more-tunable light for general illumination, backlighting for more-vivid displays, optimized power management for high-current switch-mode power supplies and variable-speed motors, and more-effective wireless infrastructure for data and voice communications. Cree customers range from innovative lighting-fixtures makers to defense-related federal agencies.”
Fairpointe Capital Llc holds 3.18% of its portfolio in Cree, Inc. for 5.74 million shares. Greenwich Wealth Management Llc owns 52,000 shares or 2.77% of their US portfolio. Moreover, Hodges Capital Management Inc. has 1.51% invested in the company for 1.27 million shares. The Virginia-based Investment Management Of Virginia Llc has invested 1.37% in the stock. Aston Asset Management Llc, a Illinois-based fund reported 79,728 shares.#img1#
Insider Transactions: Since January 1, 0001, the stock had 5 insider purchases, and 0 selling transactions for $790,053 net activity.
Ratings analysis reveals 23% of Cree Inc.’s analysts are positive. Out of 13 Wall Street analysts rating Cree Inc., 3 give it “Buy”, 1 “Sell” rating, while 9 recommend “Hold”. The lowest target is $18 while the high is $37. The stock’s average target of $27 is 5.55% above today’s ($25.58) share price. CREE was included in 20 notes of analysts from August 12, 2015. On Friday, September 23 the stock rating was initiated by Canaccord Genuity with “Hold”. As per Thursday, August 25, the company rating was initiated by TH Capital. On Wednesday, August 17 the stock rating was downgraded by UBS to “Sell”. Williams Capital Group initiated Cree, Inc. (NASDAQ:CREE) on Friday, September 30 with “Hold” rating. Deutsche Bank maintained it with “Hold” rating and $26 target price in Friday, July 15 report. As per Friday, February 5, the company rating was downgraded by JP Morgan. Canaccord Genuity maintained it with “Hold” rating and $26 target price in Wednesday, January 20 report. The firm has “Market Perform” rating given on Wednesday, August 17 by Northland Capital. Stephens downgraded the shares of CREE in a report on Wednesday, October 19 to “Equal-Weight” rating. The stock of Cree, Inc. (NASDAQ:CREE) earned “Outperform” rating by Northland Capital on Thursday, February 4.
Cree, Inc., incorporated on July 14, 1987, is a maker 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. The Firm has three divisions: Lighting Products, LED Products, and Power and RF Products. The Company’s Lighting Products segment offers LED lighting systems and bulbs. The Company’s LED Products segment offers LED components, LED chips and silicon carbide (SiC) materials. The Company’s Power and RF Products segment offers power devices and RF devices.
Another recent and important Cree, Inc. (NASDAQ:CREE) news was published by Fool.com which published an article titled: “Why Cree, Inc. Fell 13.3% in October” on November 07, 2016.
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By Clifton Ray