CREE has been the subject of a number of other recent research reports. Analysts at Piper Jaffray reiterated an “overweight” rating on shares of Cree in a research note to investors on Wednesday, March 6th. They now have a $57.00 price target on the stock, up previously from $43.00. Separately, analysts at UBS AG raised their price target on shares of Cree from $45.00 to $51.00 in a research note to investors on Wednesday, March 6th. They now have a “neutral” rating on the stock. Finally, analysts at Sterne Agee raised their price target on shares of Cree from $48.00 to $64.00 in a research note to investors on Wednesday, March 6th. They now have a “buy” rating on the stock.
Cree (NASDAQ: CREE) traded down 1.50% on Friday, hitting $52.65. Cree has a 1-year low of $22.25 and a 1-year high of $54.99. The stock’s 50-day moving average is currently $46.27. The company has a market cap of $6.105 billion and a price-to-earnings ratio of 111.35.
Cree (NASDAQ: CREE) last posted its quarterly earnings results on Tuesday, January 22nd. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.02. The company had revenue of $346.30 million for the quarter, compared to the consensus estimate of $331.06 million. During the same quarter in the previous year, the company posted $0.25 earnings per share. The company’s revenue for the quarter was up 13.9% on a year-over-year basis. Cree has set its Q3 guidance at $0.30-0.35 EPS. Analysts expect that Cree will post $1.30 EPS for the current fiscal year.
Cree, Inc. (Cree) develops and manufactures semiconductor materials and devices primarily based on silicon carbide (SiC), gallium nitride (GaN) and related compounds.
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