Cree, Inc. (NASDAQ:CREE) posted its quarterly earnings data on Tuesday, October 17th. The LED producer reported $0.04 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.04, Bloomberg Earnings reports. Cree had a negative return on equity of 0.44% and a negative net margin of 8.42%. The company had revenue of $360.00 million during the quarter, compared to analysts’ expectations of $360.01 million. During the same quarter in the previous year, the business earned $0.09 EPS. Cree’s revenue was down 3.0% compared to the same quarter last year. Cree updated its Q2 guidance to ($0.01)-$0.04 EPS.
Shares of Cree (NASDAQ:CREE) traded up 0.92% during trading on Thursday, reaching $32.82. The company’s stock had a trading volume of 1,348,235 shares. The firm’s market capitalization is $3.21 billion. Cree has a 52 week low of $20.50 and a 52 week high of $35.46. The company has a 50 day moving average price of $28.07 and a 200 day moving average price of $25.21.
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A number of research firms recently issued reports on CREE. Roth Capital set a $35.00 target price on Cree and gave the company a “buy” rating in a research report on Monday, October 16th. J P Morgan Chase & Co lowered Cree from a “neutral” rating to an “underweight” rating and lifted their target price for the company from $23.00 to $28.00 in a research report on Friday, October 6th. Williams Capital lowered Cree from a “hold” rating to a “sell” rating and set a $27.00 price target for the company. in a research report on Thursday, October 19th. KeyCorp reissued an “equal weight” rating and issued a $21.00 price target on shares of Cree in a research report on Friday, August 25th. Finally, Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Cree in a research report on Wednesday, October 18th. Seven investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the stock. Cree currently has an average rating of “Hold” and a consensus price target of $25.73.
Cree Company Profile
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.
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