Cree (CREE) : Analyst Rating Update

Cree (CREE) : The consensus on Cree (CREE) based on 10 analyst recommendation on the company stock is 2.6, which is interpreted as a Hold recommendation. Zacks Investment Research has issued a rank of 3 which endorses a Hold on the stock. However, 2 brokers have a differing view as they consider the stock to be a Strong Buy at current levels. 8 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating.

Cree (CREE) : Average target price received by Cree (CREE) is $27 with an expected standard deviation of $3.35. The most aggressive target on the stock is $30, whereas the most downbeat target is $23. 6 financial analysts are currently covering the stock.

Cree (NASDAQ:CREE): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $23.77 and $23.50 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $24.50. The buying momentum continued till the end and the stock did not give up its gains. It closed at $24.45, notching a gain of 2.05% for the day. The total traded volume was 953,858 . The stock had closed at $23.96 on the previous day.

Also, Pacific Crest initiates coverage on Cree (NASDAQ:CREE) The current rating of the shares is Sector Perform. The rating by the firm was issued on May 13, 2016. The company shares have dropped -3.66% from its 1 Year high price. On Mar 2, 2016, the shares registered one year high at $32.92 and the one year low was seen on Nov 13, 2015. The 50-Day Moving Average price is $24.13 and the 200 Day Moving Average price is recorded at $26.45.

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 Companys 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 Company has three segments: Lighting Products, LED Products, and Power and RF Products. The Companys Lighting Products segment offers LED lighting systems and bulbs. The Companys LED Products segment offers LED components, LED chips and silicon carbide (SiC) materials. The Companys Power and RF Products segment offers power devices and RF devices. The Company designs, manufactures and markets lighting systems for indoor and outdoor applications, with a focus on LED lighting systems for the commercial, industrial and consumer markets.

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