The stock of Cree, Inc. (NASDAQ:CREE) is a huge mover today! About 291,088 shares traded hands. Cree, Inc. (NASDAQ:CREE) has declined 4.64% since April 11, 2016 and is downtrending. It has underperformed by 10.79% the S&P500.
The move comes after 7 months positive chart setup for the $2.42 billion company. It was reported on Nov, 11 by Barchart.com. We have $36.87 PT which if reached, will make NASDAQ:CREE worth $1.33B more.
Cree, Inc. (NASDAQ:CREE) Ratings Coverage
Out of 13 analysts covering Cree Inc. (NASDAQ:CREE), 3 rate it a “Buy”, 1 “Sell”, while 9 “Hold”. This means 23% are positive. Cree Inc. has been the topic of 20 analyst reports since August 12, 2015 according to StockzIntelligence Inc. UBS maintained the shares of CREE in a report on Wednesday, October 19 with “Neutral” rating. The firm earned “Sell” rating on Wednesday, August 17 by UBS. The company was upgraded on Thursday, February 4 by Northland Capital. The firm has “Neutral” rating given on Friday, February 5 by JP Morgan. Piper Jaffray upgraded it to “Overweight” rating and $37 target price in Monday, February 22 report. The firm earned “Hold” rating on Friday, September 30 by Williams Capital Group. As per Thursday, August 25, the company rating was initiated by TH Capital. Stephens downgraded the stock to “Equal-Weight” rating in Wednesday, October 19 report. The firm has “Hold” rating given on Friday, July 15 by Deutsche Bank. The company was initiated on Friday, May 13 by Pacific Crest.
According to Zacks Investment Research, “Cree, Inc. is a market-leading innovator and manufacturer of semiconductors that enhance the value of solid-state lighting, power and communications products by significantly increasing their energy performance and efficiency. Key to Cree’s market advantage is its world-class materials expertise in silicon carbide and gallium nitride for chips and packaged devices that can handle more power in a smaller space while producing less heat than other available technologies, materials and products. Cree drives its increased performance technology into multiple applications, including exciting alternatives in brighter and more-tunable light for general illumination, backlighting for more-vivid displays, optimized power management for high-current switch-mode power supplies and variable-speed motors, and more-effective wireless infrastructure for data and voice communications. Cree customers range from innovative lighting-fixtures makers to defense-related federal agencies.”
Insitutional Activity: The institutional sentiment decreased to 0.98 in Q2 2016. Its down 0.23, from 1.21 in 2016Q1. The ratio worsened, as 40 funds sold all Cree, Inc. shares owned while 81 reduced positions. 29 funds bought stakes while 89 increased positions. They now own 83.30 million shares or 3.78% less from 86.57 million shares in 2016Q1.
State Of Tennessee Treasury Department has 71,400 shares for 0.01% of their US portfolio. Citadel owns 67,957 shares or 0% of their US portfolio. Moreover, Mufg Americas Corporation has 0% invested in Cree, Inc. (NASDAQ:CREE) for 533 shares. Tiaa Cref Invest Management Ltd Liability Co has 0% invested in the company for 243,520 shares. Fmr Ltd Liability Corp owns 10.57M shares or 0.04% of their US portfolio. Capital One Association holds 33,647 shares or 0.07% of its portfolio. Frontier Cap Management Ltd has 0.14% invested in the company for 676,540 shares. Plante Moran Finance Advisors Limited Liability has invested 0% of its portfolio in Cree, Inc. (NASDAQ:CREE). Public Employees Retirement Association Of Colorado owns 20,050 shares or 0% of their US portfolio. Fairfield Bush Communication has invested 0.23% of its portfolio in Cree, Inc. (NASDAQ:CREE). Schwab Charles Mngmt Inc last reported 381,005 shares in the company. Shinko Asset Mgmt holds 14,009 shares or 0% of its portfolio. Ameriprise Fin Inc reported 266,768 shares or 0% of all its holdings. State Of Wisconsin Board holds 64,683 shares or 0.01% of its portfolio. Shelton Capital last reported 0.05% of its portfolio in the stock.
Insider Transactions: Since August 17, 2016, the stock had 5 buys, and 0 sales for $790,053 net activity. McDevitt Michael E had bought 5,000 shares worth $111,000. Shares for $222,170 were bought by SWOBODA CHARLES M. 5,000 shares were bought by REPLOGLE JOHN B, worth $116,650 on Wednesday, August 17. Another trade for 10,000 shares valued at $228,533 was bought by JACKSON DARREN R.
More important recent Cree, Inc. (NASDAQ:CREE) news were published by: Fool.com which released: “Why Shares of Cree, Inc. Plunged 15% Today” on October 19, 2016, also Natlawreview.com published article titled: “Upcoming/New CFIUS Filing: Infineon Technologies and Cree, Inc.”, Nasdaq.com published: “Earnings Reaction History: Cree, Inc., 85.7% Follow-Through Indicator, 10.6 …” on October 18, 2016. More interesting news about Cree, Inc. (NASDAQ:CREE) was released by: Investorplace.com and their article: “Trade of the Day: Cree, Inc. (CREE) a Perfect Short Setup” with publication date: October 21, 2016.
CREE Company Profile
Cree, Inc., incorporated on July 14, 1987, is a maker 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 Firm has three divisions: 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.
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