Cree, Inc. (CREE) Shares Bought by SG Americas Securities LLC

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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.

Cree (NASDAQ:CREE) last released its quarterly earnings results on Tuesday, October 16th. The LED producer reported $0.22 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.10. Cree had a negative net margin of 17.60% and a negative return on equity of 0.10%. The business had revenue of $408.28 million for the quarter, compared to analysts’ expectations of $407.32 million. During the same period in the prior year, the firm earned $0.04 earnings per share. Cree’s revenue was up 13.3% compared to the same quarter last year. As a group, equities analysts anticipate that Cree, Inc. will post 0.33 EPS for the current year.

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 Profile

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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Institutional Ownership by Quarter for Cree (NASDAQ:CREE)

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