Physicians Financial Services Inc. Purchases Shares of 4,699 Cree, Inc. (NASDAQ:CREE)

Physicians Financial Services Inc. bought a new position in Cree, Inc. (NASDAQ:CREE) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 4,699 shares of the LED producer’s stock, valued at approximately $201,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bank of Montreal Can boosted its position in Cree by 31.1% during the 4th quarter. Bank of Montreal Can now owns 4,010 shares of the LED producer’s stock worth $172,000 after acquiring an additional 951 shares during the period. Teachers Retirement System of The State of Kentucky raised its stake in shares of Cree by 7.5% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 18,670 shares of the LED producer’s stock worth $707,000 after buying an additional 1,300 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in shares of Cree by 5.9% in the 3rd quarter. Thrivent Financial for Lutherans now owns 24,250 shares of the LED producer’s stock worth $918,000 after buying an additional 1,349 shares in the last quarter. Aperio Group LLC raised its stake in shares of Cree by 3.4% in the 3rd quarter. Aperio Group LLC now owns 41,124 shares of the LED producer’s stock worth $1,557,000 after buying an additional 1,354 shares in the last quarter. Finally, Retirement Systems of Alabama raised its stake in shares of Cree by 1.1% in the 3rd quarter. Retirement Systems of Alabama now owns 131,546 shares of the LED producer’s stock worth $4,982,000 after buying an additional 1,398 shares in the last quarter.

A number of equities research analysts have recently issued reports on the company. Oppenheimer boosted their target price on Cree from $53.00 to $59.00 and gave the stock an “outperform” rating in a research report on Thursday, January 31st. JMP Securities lowered Cree from an “outperform” rating to a “market perform” rating and set a $49.32 target price on the stock. in a research report on Tuesday, January 29th. They noted that the move was a valuation call. BidaskClub raised Cree from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, January 29th. TheStreet upgraded Cree from a “c” rating to a “b-” rating in a research note on Wednesday, January 9th. Finally, JPMorgan Chase & Co. cut Cree from a “neutral” rating to an “underweight” rating and set a $35.00 price objective for the company. in a research report on Friday, November 30th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $49.09.

NASDAQ CREE opened at $52.04 on Thursday. The company has a market cap of $5.39 billion, a P/E ratio of -346.93, a price-to-earnings-growth ratio of 6.96 and a beta of 0.60. Cree, Inc. has a one year low of $33.72 and a one year high of $52.88. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.27 and a current ratio of 4.33.

Cree (NASDAQ:CREE) last issued its quarterly earnings data on Wednesday, January 30th. The LED producer reported $0.23 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.06. Cree had a positive return on equity of 0.90% and a negative net margin of 18.11%. The business had revenue of $413.04 million for the quarter, compared to the consensus estimate of $408.75 million. During the same quarter last year, the business posted ($0.01) EPS. The firm’s revenue was up 12.3% compared to the same quarter last year. Analysts forecast that Cree, Inc. will post 0.37 earnings per share for the current fiscal year.

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Cree Profile

Cree, Inc provides lighting-class light emitting diode (LED), lighting, and semiconductor products for power and radio-frequency (RF) applications in the United States, China, Europe, South Korea, Japan, Malaysia, Taiwan, and internationally. It operates in three segments: Wolfspeed, LED Products, and Lighting Products.

Further Reading: Reverse Stock Split

Institutional Ownership by Quarter for Cree (NASDAQ:CREE)

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