November 30, 2016 - By Louis Casey · 0 Comments
The stock of Cree Incorporated (NASDAQ:CREE) registered a decrease of 6% in short interest. CREE’s total short interest was 8.52 million shares in November as published by FINRA. Its down 6% from 9.06 million shares, reported previously. With 2.60 million shares average volume, it will take short sellers 3 days to cover their CREE’s short positions. The short interest to Cree Incorporated’s float is 8.53%. About 58,879 shares traded hands. Cree, Inc. (NASDAQ:CREE) has declined 1.42% since April 27, 2016 and is downtrending. It has underperformed by 6.65% the S&P500.
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 $2.56 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 3600.28 P/E ratio. The Firm has three divisions: Lighting Products, LED Products, and Power and RF Products.
Insitutional Activity: The institutional sentiment decreased to 0.89 in 2016 Q2. Its down 0.09, from 0.98 in 2016Q1. The ratio turned negative, as 40 funds sold all Cree, Inc. shares owned while 81 reduced positions. 29 funds bought stakes while 89 increased positions. They now own 83.30 million shares or 3.78% less from 86.57 million shares in 2016Q1.
Raymond James & Assocs holds 412,018 shares or 0.03% of its portfolio. Morgan Dempsey Management Ltd Liability Com accumulated 1,776 shares or 0.01% of the stock. Northeast Consultants accumulated 0.14% or 13,039 shares. D E Shaw owns 159,939 shares or 0.01% of their US portfolio. Nuveen Asset Mngmt Limited Liability Co reported 80,946 shares or 0.01% of all its holdings. Prentiss Smith And Co accumulated 700 shares or 0.01% of the stock. California Pub Employees Retirement Sys has 0.03% invested in the company for 660,356 shares. Stifel Fincl Corporation last reported 40,971 shares in the company. Moreover, Tower Rech Capital Lc (Trc) has 0.01% invested in Cree, Inc. (NASDAQ:CREE) for 2,410 shares. Princeton has 0.85% invested in the company for 50,520 shares. Osborn Rohs Williams & Donohoe holds 0.04% of its portfolio in Cree, Inc. (NASDAQ:CREE) for 9,000 shares. Cubist Systematic Strategies Ltd Limited Liability Company holds 0.01% of its portfolio in Cree, Inc. (NASDAQ:CREE) for 8,559 shares. The Massachusetts-based Boston Family Office Limited Liability Corp has invested 0.17% in Cree, Inc. (NASDAQ:CREE). Pub Employees Retirement Association Of Colorado accumulated 0% or 20,050 shares. Livingston Group Inc Inc Asset Mngmt (Operating As Southport Capital Management) has invested 0.02% of its portfolio in Cree, Inc. (NASDAQ:CREE).
Insider Transactions: Since August 17, 2016, the stock had 5 insider buys, and 0 sales for $790,053 net activity. JACKSON DARREN R also bought $228,533 worth of Cree, Inc. (NASDAQ:CREE) on Monday, October 24. $111,700 worth of shares were bought by REPLOGLE JOHN B on Wednesday, October 19. The insider McDevitt Michael E bought 5,000 shares worth $111,000. The insider SWOBODA CHARLES M bought $222,170.
Out of 13 analysts covering Cree Inc. (NASDAQ:CREE), 3 rate it a “Buy”, 1 “Sell”, while 9 “Hold”. This means 23% are positive. Cree Inc. has been the topic of 20 analyst reports since August 12, 2015 according to StockzIntelligence Inc. As per Wednesday, January 20, the company rating was maintained by Canaccord Genuity. The stock has “Neutral” rating given by JP Morgan on Friday, February 5. The stock of Cree, Inc. (NASDAQ:CREE) has “Outperform” rating given on Thursday, February 4 by Northland Capital. The rating was maintained by UBS on Wednesday, October 19 with “Neutral”. The stock of Cree, Inc. (NASDAQ:CREE) earned “Market Perform” rating by Northland Capital on Wednesday, August 17. The rating was downgraded by UBS to “Sell” on Wednesday, August 17. The firm has “Sell” rating given on Friday, November 6 by Goldman Sachs. On Friday, September 30 the stock rating was initiated by Williams Capital Group with “Hold”. Piper Jaffray upgraded the shares of CREE in a report on Monday, February 22 to “Overweight” rating. As per Thursday, August 25, the company rating was initiated by TH Capital.
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 Louis Casey