FNY Investment Advisers LLC bought a new stake in Cree, Inc. (NASDAQ:CREE) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 750 shares of the LED producer’s stock, valued at approximately $42,000.
Other hedge funds also recently bought and sold shares of the company. Capital Investment Advisory Services LLC bought a new position in shares of Cree in the fourth quarter valued at approximately $35,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its holdings in shares of Cree by 22.0% in the first quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,025 shares of the LED producer’s stock valued at $59,000 after purchasing an additional 185 shares in the last quarter. DAVENPORT & Co LLC bought a new position in shares of Cree in the first quarter valued at approximately $209,000. Berkshire Asset Management LLC PA bought a new position in shares of Cree in the first quarter valued at approximately $221,000. Finally, Bank of Montreal Can lifted its holdings in shares of Cree by 31.1% in the fourth quarter. Bank of Montreal Can now owns 4,010 shares of the LED producer’s stock valued at $172,000 after purchasing an additional 951 shares in the last quarter.
Shares of Cree stock opened at $67.17 on Friday. The firm has a market cap of $6.93 billion, a P/E ratio of -447.80, a price-to-earnings-growth ratio of 8.84 and a beta of 0.64. Cree, Inc. has a 12 month low of $33.72 and a 12 month high of $67.70. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.27 and a current ratio of 4.33.
A number of research analysts have recently weighed in on CREE shares. 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 report on Tuesday, January 29th. They noted that the move was a valuation call. Zacks Investment Research lowered Cree from a “buy” rating to a “hold” rating in a report on Wednesday, April 10th. TheStreet upgraded Cree from a “c” rating to a “b-” rating in a report on Wednesday, January 9th. Oppenheimer raised their target price on Cree from $53.00 to $59.00 and gave the company an “outperform” rating in a report on Thursday, January 31st. Finally, BidaskClub upgraded Cree from a “buy” rating to a “strong-buy” rating in a report on Tuesday, January 29th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. Cree presently has an average rating of “Buy” and an average target price of $55.84.
Cree Company 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.
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