Cree (CREE) was Resumed by JP Morgan to “Overweight” and the brokerage firm has set the Price Target at $30. JP Morgan advised their Clients and Investors in a research report released on Feb 21, 2017.
Based on several research reports , Cree was Downgraded by JMP Securities to ” Mkt Perform” on Feb 9, 2017. Company shares were Reiterated by Williams Capital Group on Jan 25, 2017 to “Hold”, Firm has raised the Price Target to $ 24 from a previous price target of $23 .JMP Securities Initiated Cree on Dec 8, 2016 to “Mkt Outperform”, Price Target of the shares are set at $32.
On the company’s financial health, Cree reported $0.20 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Jan 24, 2017. Analyst had a consensus of $0.13. The company had revenue of $347.00 million for the quarter, compared to analysts expectations of $325.09 million. The company’s revenue was down -11.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.30 EPS.
Several company insiders have filed Insider transactions , on Oct 24, 2016, Michael E Mcdevitt (CFO) purchased 5,000 shares at $22.20 per share price. According to the SEC, on Oct 21, 2016, Charles M Swoboda (CEO) purchased 10,000 shares at $22.22 per share price. On Oct 20, 2016, John B Replogle (director) purchased 5,000 shares at $22.34 per share price, according to the Form-4 filing with the securities and exchange commission.
Cree opened for trading at $26.05 and hit $26.55 on the upside on Friday, eventually ending the session at $26.49, with a gain of 1.07% or 0.28 points. The heightened volatility saw the trading volume jump to 6,44,773 shares. Company has a market cap of $2,580 M.
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.