Zacks Investment Research cut Cree from a “hold” rating to a “strong sell” rating in a report on Wednesday, April 27th. Furthermore, it will also help Cree improve its cash position, which the company can use to accelerate the growth of its lighting and LED business. 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.
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Many Wall Street Analysts have commented on Cree.
For the full fiscal year, Cree earned 86 cents per diluted share on revenue of $1.62 billion.
Cree, Inc. has 100,606,000 shares which are now outstanding with a price of 27.48 calculating Cree, Inc.’s market capitalisation to 2.76B Dollars. Analysts at UBS further stated that the research firm will “rethink” about its Sell rating on the stock only if the company chooses to make accretive acquisition with its cash from Wolfspeed’s sale. Cree Inc. has registered a 50-day average of $27.01 and two hundred day average of $26.69.
Cree’s annualized revenue was actually down 1% from 2015. The company’s market cap is $2.76 billion. Cree forecast adjusted first-quarter earnings of 10 cents to 16 cents a share on revenue of $310 million to $330 million. Cree reported fourth quarter earnings of $0.19 per share which missed analyst expectations of $0.20 per share.
The company’s strengths can be seen in multiple areas, such as its solid stock price performance, largely solid financial position with reasonable debt levels by most measures and expanding profit margins. Canaccord Genuity reissued a “hold” rating and issued a $24.00 price target (up from $19.00) on shares of Cree in a report on Sunday, July 17th.
Cree, Inc. (CREE), a global leader in LED lighting company yesterday announced their fiscal fourth quarter 2016 financial results.
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A number of large investors recently bought and sold shares of CREE. Eqis Capital Management Inc. boosted its stake in Cree by 2.4% in the second quarter. The provider of light emitting diodes (LED) reported mixed numbers for its previous quarters while providing weaker-than-expected outlook for its current period. Clean Yield Group now owns 6,500 shares of the LED producer’s stock valued at $159,000 after buying an additional 700 shares during the last quarter.
