Cree (CREE) : Advisory Services Network scooped up 400 additional shares in Cree during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 7, 2016. The investment management firm now holds a total of 6,426 shares of Cree which is valued at $162,514.Cree makes up approximately 0.03% of Advisory Services Network’s portfolio.
Other Hedge Funds, Including , First Mercantile Trust Co reduced its stake in CREE by selling 1,069 shares or 9.98% in the most recent quarter. The Hedge Fund company now holds 9,642 shares of CREE which is valued at $243,846. Cree makes up approx 0.03% of First Mercantile Trust Co’s portfolio.Bnp Paribas Arbitrage Sa reduced its stake in CREE by selling 31,283 shares or 74.45% in the most recent quarter. The Hedge Fund company now holds 10,736 shares of CREE which is valued at $271,621. Washington Trust Bank sold out all of its stake in CREE during the most recent quarter. The investment firm sold 58 shares of CREE which is valued $1,467.Eqis Capital Management boosted its stake in CREE in the latest quarter, The investment management firm added 461 additional shares and now holds a total of 22,695 shares of Cree which is valued at $574,184. Cree makes up approx 0.04% of Eqis Capital Management’s portfolio.
Cree closed down -0.17 points or -0.67% at $25.29 with 7,85,804 shares getting traded on Friday. Post opening the session at $25.44, the shares hit an intraday low of $25.04 and an intraday high of $25.46 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
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.
Many Wall Street Analysts have commented on Cree. Williams Capital Group Initiated Cree on Sep 30, 2016 to “Hold”, Price Target of the shares are set at $23.ROTH Capital Initiated Cree on Aug 25, 2016 to “Buy”, Price Target of the shares are set at $34.Cree was Downgraded by Northland Capital to ” Market Perform” on Aug 17, 2016.
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.