Goldman Sachs Group Inc. restated their buy rating on shares of Cree (NASDAQ:CREE) in a report issued on Wednesday, AnalystRatingsNetwork reports.
Several other analysts have also recently commented on the stock. Analysts at Wedbush reiterated an outperform rating on shares of Cree in a research note to investors on Wednesday. They now have a $78.00 price target on the stock. Separately, analysts at Needham & Company cut their price target on shares of Cree from $80.00 to $74.00 in a research note to investors on Wednesday. They now have a buy rating on the stock. Finally, analysts at Northland Capital Partners downgraded shares of Cree from an outperform rating to a market perform rating in a research note to investors on Wednesday. They now have a $61.00 price target on the stock, down previously from $63.00.
Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and fourteen have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $58.68.
Shares of Cree (NASDAQ:CREE) traded up 3.70% during mid-day trading on Wednesday, hitting $58.00. The stock had a trading volume of 1,639,643 shares. Cree has a 52-week low of $24.50 and a 52-week high of $76.00. The stock has a 50-day moving average of $68.56 and a 200-day moving average of $57.. The company has a market cap of $6.797 billion and a price-to-earnings ratio of 94.80. Cree also was the target of some unusual options trading activity on Tuesday. Investors purchased 20,190 call options on the stock. This represents an increase of approximately 421% compared to the average volume of 3,876 call options.
Cree, Inc (NASDAQ:CREE) develops and manufactures semiconductor materials and devices primarily based on silicon carbide (SiC), gallium nitride (GaN) and related compounds.
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