Deutsche Bank AG upgraded shares of Cree, Inc. (NASDAQ:CREE) from a hold rating to a buy rating in a research report released on Monday, November 6th, MarketBeat reports. Deutsche Bank AG currently has $45.00 target price on the LED producer’s stock, up from their previous target price of $26.00.
Other analysts have also recently issued research reports about the company. TheStreet raised Cree from a d+ rating to a c- rating in a research report on Wednesday, September 27th. Oppenheimer Holdings, Inc. reaffirmed a hold rating on shares of Cree in a research report on Wednesday, October 18th. Zacks Investment Research cut Cree from a hold rating to a sell rating in a research report on Tuesday, July 18th. Cowen Inc set a $22.00 price target on Cree and gave the stock a hold rating in a research report on Wednesday, August 23rd. Finally, Canaccord Genuity reaffirmed a hold rating and issued a $23.00 price target on shares of Cree in a research report on Wednesday, August 23rd. Seven investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $27.50.
Cree (NASDAQ CREE) traded up $0.16 on Monday, reaching $36.77. The company had a trading volume of 336,680 shares, compared to its average volume of 1,915,950. Cree has a 52-week low of $20.50 and a 52-week high of $37.50. The company has a quick ratio of 3.61, a current ratio of 4.82 and a debt-to-equity ratio of 0.06.
Several institutional investors have recently bought and sold shares of CREE. GAM Holding AG bought a new position in shares of Cree in the second quarter worth about $104,000. Riverhead Capital Management LLC increased its stake in shares of Cree by 75.0% in the second quarter. Riverhead Capital Management LLC now owns 5,426 shares of the LED producer’s stock worth $134,000 after purchasing an additional 2,326 shares during the period. Strs Ohio bought a new position in shares of Cree in the second quarter worth about $140,000. LS Investment Advisors LLC increased its stake in shares of Cree by 17.9% in the second quarter. LS Investment Advisors LLC now owns 7,643 shares of the LED producer’s stock worth $188,000 after purchasing an additional 1,160 shares during the period. Finally, Advisor Group Inc. increased its stake in Cree by 11.5% during the second quarter. Advisor Group Inc. now owns 8,175 shares of the LED producer’s stock valued at $197,000 after acquiring an additional 846 shares during the period. Institutional investors and hedge funds own 96.81% of the company’s stock.
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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.
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