Cree, Inc. (CREE) Lifted to Buy at Deutsche Bank AG

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.

Cree (NASDAQ:CREE) last released its quarterly earnings data on Tuesday, October 17th. The LED producer reported $0.04 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.04. The firm had revenue of $360.00 million during the quarter, compared to analysts’ expectations of $360.01 million. Cree had a negative return on equity of 0.44% and a negative net margin of 8.42%. The business’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.09 earnings per share. analysts predict that Cree will post -0.27 earnings per share for the current year.

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.

Analyst Recommendations for Cree (NASDAQ:CREE)

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