Cree (CREE) was Initiated by ROTH Capital to “Buy” and the brokerage firm has set the Price Target at $34. ROTH Capital advised their investors in a research report released on Aug 25, 2016.
Many Wall Street Analysts have commented on Cree. Cree was Downgraded by Northland Capital to ” Market Perform” on Aug 17, 2016. Company shares were Reiterated by Deutsche Bank on Jul 15, 2016 to “Hold”, Firm has raised the Price Target to $ 26 from a previous price target of $23 .
On the company’s financial health, Cree reported $0.19 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Aug 16, 2016. Analyst had a consensus of $0.20. The company had revenue of $388.40 million for the quarter, compared to analysts expectations of $384.96 million. The company’s revenue was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.19 EPS.
Cree closed down -0.15 points or -0.63% at $23.82 with 8,38,354 shares getting traded on Tuesday. Post opening the session at $24.11, the shares hit an intraday low of $23.8 and an intraday high of $24.21 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.
In a different news, on Aug 18, 2016, John B Replogle (director) purchased 5,000 shares at $23.33 per share price. According to the SEC, on Feb 18, 2016, Anne Clem Whitaker (director) sold 623 shares at $30.00 per share price. On Dec 3, 2015, Robert Alexander Ingram (director) sold 3,750 shares at $27.67 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.