AHL Partners LLP decreased its position in shares of Cree, Inc. (NASDAQ:CREE) by 68.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 82,213 shares of the LED producer’s stock after selling 180,784 shares during the quarter. AHL Partners LLP owned 0.08% of Cree worth $2,026,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Stifel Financial Corp grew its stake in shares of Cree by 20.3% during the 2nd quarter. Stifel Financial Corp now owns 67,854 shares of the LED producer’s stock worth $1,660,000 after purchasing an additional 11,440 shares during the period. Zacks Investment Management acquired a new stake in shares of Cree during the 2nd quarter worth approximately $1,069,000. Voya Investment Management LLC grew its stake in shares of Cree by 31.9% during the 2nd quarter. Voya Investment Management LLC now owns 44,905 shares of the LED producer’s stock worth $1,107,000 after purchasing an additional 10,872 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Cree by 13.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,784,651 shares of the LED producer’s stock worth $191,893,000 after purchasing an additional 897,753 shares during the period. Finally, Advisor Group Inc. grew its stake in shares of Cree by 11.5% during the 2nd quarter. Advisor Group Inc. now owns 8,175 shares of the LED producer’s stock worth $197,000 after purchasing an additional 846 shares during the period. 91.37% of the stock is currently owned by institutional investors and hedge funds.
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A number of equities research analysts have recently commented on the stock. J P Morgan Chase & Co cut shares of Cree from a “neutral” rating to an “underweight” rating and raised their price objective for the stock from $23.00 to $28.00 in a research note on Friday, October 6th. TheStreet raised shares of Cree from a “d+” rating to a “c-” rating in a research note on Wednesday, September 27th. Northland Securities reaffirmed a “hold” rating and set a $28.00 price objective on shares of Cree in a research note on Thursday, September 28th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cree in a research note on Tuesday, September 26th. Finally, ValuEngine raised shares of Cree from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Six investment analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $23.58.
Shares of Cree, Inc. (CREE) opened at 29.21 on Friday. Cree, Inc. has a 52 week low of $20.50 and a 52 week high of $31.64. The firm’s 50-day moving average is $26.03 and its 200 day moving average is $24.82. The firm’s market cap is $2.85 billion.
Cree (NASDAQ:CREE) last posted its earnings results 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 company had revenue of $359.00 million for the quarter, compared to analyst estimates of $349.82 million. Cree had a negative return on equity of 0.13% and a negative net margin of 7.17%. Cree’s revenue was down 7.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.19 earnings per share. Equities research analysts forecast that Cree, Inc. will post $0.30 EPS for the current year.
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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