Duy Loan T. Le Purchases 2,000 Shares of Cree, Inc. (CREE) Stock

Cree, Inc. (NASDAQ:CREE) Director Duy Loan T. Le purchased 2,000 shares of the business’s stock in a transaction on Monday, May 20th. The stock was bought at an average cost of $60.07 per share, for a total transaction of $120,140.00. Following the purchase, the director now owns 8,442 shares of the company’s stock, valued at approximately $507,110.94. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website.

CREE traded up $1.48 on Tuesday, hitting $58.89. 1,843,239 shares of the stock were exchanged, compared to its average volume of 1,432,616. Cree, Inc. has a 12 month low of $33.72 and a 12 month high of $69.21. The company has a quick ratio of 3.97, a current ratio of 4.48 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $6.65 billion, a price-to-earnings ratio of -391.60, a P/E/G ratio of 7.89 and a beta of 0.69.

Cree (NASDAQ:CREE) last posted its quarterly earnings data on Wednesday, May 1st. The LED producer reported $0.08 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.02. Cree had a negative net margin of 18.25% and a positive return on equity of 1.59%. The business had revenue of $274.00 million during the quarter, compared to analysts’ expectations of $274.73 million. During the same quarter in the prior year, the business posted $0.04 earnings per share. Cree’s revenue was up 21.7% compared to the same quarter last year. Sell-side analysts anticipate that Cree, Inc. will post 0.4 EPS for the current fiscal year.

CREE has been the topic of a number of recent research reports. BidaskClub upgraded shares of Cree from a “buy” rating to a “strong-buy” rating in a report on Tuesday, January 29th. JMP Securities cut shares of Cree from an “outperform” rating to a “market perform” rating and set a $49.32 target price for the company. in a research report on Tuesday, January 29th. They noted that the move was a valuation call. Oppenheimer boosted their target price on shares of Cree from $53.00 to $59.00 and gave the company an “outperform” rating in a research report on Thursday, January 31st. Zacks Investment Research cut shares of Cree from a “buy” rating to a “hold” rating in a research report on Tuesday, April 2nd. Finally, Canaccord Genuity reissued a “buy” rating and issued a $81.00 target price (up previously from $60.00) on shares of Cree in a research report on Monday, April 15th. One analyst has rated the stock with a sell rating, eight have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $58.89.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Cresset Asset Management LLC bought a new stake in Cree during the first quarter worth about $26,000. Quadrant Capital Group LLC raised its position in Cree by 501.1% in the 1st quarter. Quadrant Capital Group LLC now owns 541 shares of the LED producer’s stock valued at $29,000 after buying an additional 451 shares during the last quarter. James Investment Research Inc. purchased a new stake in Cree in the 1st quarter valued at $33,000. FNY Investment Advisers LLC purchased a new stake in Cree in the 1st quarter valued at $42,000. Finally, Capital Investment Advisory Services LLC purchased a new stake in Cree in the 4th quarter valued at $35,000.

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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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