SG Americas Securities LLC grew its stake in shares of Cree, Inc. (NASDAQ:CREE) by 6.5% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 34,175 shares of the LED producer’s stock after buying an additional 2,071 shares during the period. SG Americas Securities LLC’s holdings in Cree were worth $1,294,000 as of its most recent filing with the SEC.
Other large investors have also bought and sold shares of the company. Zacks Investment Management acquired a new position in Cree in the second quarter worth about $210,000. Global X Management Co LLC acquired a new position in Cree in the second quarter worth about $269,000. Gideon Capital Advisors Inc. raised its position in Cree by 41.6% in the second quarter. Gideon Capital Advisors Inc. now owns 9,905 shares of the LED producer’s stock worth $412,000 after purchasing an additional 2,911 shares in the last quarter. Cornerstone Wealth Management LLC acquired a new position in Cree in the third quarter worth about $350,000. Finally, NumerixS Investment Technologies Inc raised its position in Cree by 322.6% in the second quarter. NumerixS Investment Technologies Inc now owns 13,100 shares of the LED producer’s stock worth $556,000 after purchasing an additional 10,000 shares in the last quarter.
Shares of Cree stock opened at $43.87 on Friday. The company has a current ratio of 4.19, a quick ratio of 3.15 and a debt-to-equity ratio of 0.21. The stock has a market cap of $4.71 billion, a price-to-earnings ratio of -292.47 and a beta of 0.51. Cree, Inc. has a 1-year low of $30.78 and a 1-year high of $51.78.
Several brokerages have weighed in on CREE. Roth Capital set a $50.00 price objective on shares of Cree and gave the stock a “hold” rating in a research note on Wednesday, August 15th. ValuEngine cut shares of Cree from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 6th. Deutsche Bank decreased their price objective on shares of Cree to $42.00 and set a “hold” rating on the stock in a research note on Wednesday, October 17th. TheStreet cut shares of Cree from a “b-” rating to a “c+” rating in a research note on Tuesday, September 11th. Finally, BidaskClub raised shares of Cree from a “hold” rating to a “buy” rating in a research note on Friday, November 23rd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $45.87.
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Cree, Inc provides lighting-class light emitting diode (LED), lighting, and semiconductor products for power and radio-frequency (RF) applications in the United States, China, Europe, South Korea, Japan, Malaysia, Taiwan, and internationally. It operates in three segments: Wolfspeed, LED Products, and Lighting Products.
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