Cree (CREE) was Reiterated by Deutsche Bank to “Hold” according to the research note released today. The brokerage firm has raised the Price Target to $ 26 from a previous price target of $23 . Deutsche Bank advised their investors in a research report released on Jul 15, 2016.
Many Wall Street Analysts have commented on Cree. Cree was Initiated by Pacific Crest to “Sector Weight” on May 13, 2016.
On the company’s financial health, Cree reported $0.17 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Apr 26, 2016. Analyst had a consensus of $0.14. The company had revenue of $366.90 million for the quarter, compared to analysts expectations of $366.88 million. The company’s revenue was down -10.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.22 EPS.
Cree closed down -0.12 points or -0.43% at $27.62 with 10,77,197 shares getting traded on Friday. Post opening the session at $27.87, the shares hit an intraday low of $27.42 and an intraday high of $27.87 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
In a different news, on Feb 18, 2016, Anne Clem Whitaker (director) sold 623 shares at $30.00 per share price. According to the SEC, on Dec 3, 2015, Robert Alexander Ingram (director) sold 3,750 shares at $27.67 per share price. On Nov 17, 2015, John B Replogle (director) purchased 5,000 shares at $23.30 per share price, according to the Form-4 filing with the securities and exchange commission.
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. The Company has three segments: Lighting Products LED Products and Power and RF Products. The Company’s Lighting Products segment offers LED lighting systems and bulbs. The Company’s LED Products segment offers LED components LED chips and silicon carbide (SiC) materials. The Company’s 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.