Cree, Inc. (CREE) Holdings Increased by TIAA CREF Investment Management LLC

TIAA CREF Investment Management LLC boosted its position in Cree, Inc. (NASDAQ:CREE) by 14.1% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 285,563 shares of the LED producer’s stock after acquiring an additional 35,349 shares during the period. TIAA CREF Investment Management LLC owned about 0.29% of Cree worth $7,039,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Cambridge Investment Research Advisors Inc. grew its stake in Cree by 1.9% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 18,982 shares of the LED producer’s stock worth $507,000 after acquiring an additional 350 shares during the period. Wrapmanager Inc. grew its stake in Cree by 3.3% in the 2nd quarter. Wrapmanager Inc. now owns 11,081 shares of the LED producer’s stock worth $273,000 after acquiring an additional 354 shares during the period. State Treasurer State of Michigan grew its stake in Cree by 1.3% in the 2nd quarter. State Treasurer State of Michigan now owns 40,100 shares of the LED producer’s stock worth $988,000 after acquiring an additional 500 shares during the period. Arizona State Retirement System grew its stake in Cree by 1.2% in the 2nd quarter. Arizona State Retirement System now owns 41,000 shares of the LED producer’s stock worth $1,011,000 after acquiring an additional 500 shares during the period. Finally, Texas Permanent School Fund grew its stake in Cree by 0.7% in the 2nd quarter. Texas Permanent School Fund now owns 71,031 shares of the LED producer’s stock worth $1,751,000 after acquiring an additional 510 shares during the period. 91.37% of the stock is owned by hedge funds and other institutional investors.

Cree, Inc. (CREE) opened at 29.39 on Thursday. The firm’s market cap is $2.87 billion. The company’s 50 day moving average is $25.83 and its 200 day moving average is $24.78. Cree, Inc. has a 12-month low of $20.50 and a 12-month high of $31.64.

Cree (NASDAQ:CREE) last released its quarterly earnings data on Tuesday, August 22nd. The LED producer reported $0.04 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.04. The firm had revenue of $359.00 million for the quarter, compared to analyst estimates of $349.82 million. Cree had a negative net margin of 7.17% and a negative return on equity of 0.13%. The company’s revenue for the quarter was down 7.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.19 EPS. On average, equities analysts anticipate that Cree, Inc. will post $0.30 earnings per share for the current year.

Several research firms have commented on CREE. TheStreet raised shares of Cree from a “d+” rating to a “c-” rating in a research note on Wednesday, September 27th. Roth Capital reaffirmed a “buy” rating and issued a $29.00 target price (up from $27.00) on shares of Cree in a research note on Tuesday, June 20th. Cowen and Company set a $22.00 target price on shares of Cree and gave the stock a “hold” rating in a research note on Wednesday, August 23rd. Zacks Investment Research cut shares of Cree from a “hold” rating to a “sell” rating in a research note on Tuesday, July 18th. Finally, KeyCorp reaffirmed an “equal weight” rating and issued a $21.00 target price on shares of Cree in a research note on Friday, August 25th. Six investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company’s stock. Cree presently has a consensus rating of “Hold” and a consensus target price of $23.58.

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Cree 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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Institutional Ownership by Quarter for Cree (NASDAQ:CREE)

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