Cree, Inc. (NASDAQ:CREE) – Analysts at Oppenheimer issued their Q1 2020 EPS estimates for shares of Cree in a research note issued to investors on Wednesday, August 21st, Zacks Investment Research reports. Oppenheimer analyst C. Rusch expects that the LED producer will earn ($0.18) per share for the quarter. Oppenheimer also issued estimates for Cree’s Q2 2020 earnings at ($0.11) EPS, Q3 2020 earnings at ($0.08) EPS, Q4 2020 earnings at $0.04 EPS, FY2020 earnings at ($0.31) EPS and FY2021 earnings at $0.20 EPS.
Cree (NASDAQ:CREE) last issued its quarterly earnings results on Tuesday, August 20th. The LED producer reported $0.11 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($0.09). The business had revenue of $251.00 million for the quarter, compared to the consensus estimate of $248.95 million. Cree had a negative net margin of 27.86% and a positive return on equity of 1.23%. The business’s revenue was down 5.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.11 EPS.
A number of other research firms have also recently commented on CREE. JPMorgan Chase & Co. set a $45.00 target price on Cree and gave the company a “neutral” rating in a research note on Tuesday, August 27th. Piper Jaffray Companies cut Cree from a “neutral” rating to an “underweight” rating and cut their price objective for the stock from $57.00 to $38.00 in a report on Monday, August 26th. Roth Capital reduced their price objective on Cree from $73.00 to $67.00 and set a “buy” rating on the stock in a research report on Thursday, June 13th. JMP Securities cut Cree from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 21st. Finally, BidaskClub downgraded Cree from a “hold” rating to a “sell” rating in a research report on Thursday. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $56.75.
Cree stock traded up $1.20 during mid-day trading on Monday, hitting $47.02. 2,205,248 shares of the company traded hands, compared to its average volume of 1,549,880. Cree has a one year low of $33.72 and a one year high of $69.21. The company has a debt-to-equity ratio of 0.23, a quick ratio of 4.57 and a current ratio of 5.27. The stock has a market cap of $5.03 billion, a price-to-earnings ratio of 130.61 and a beta of 0.92. The stock has a fifty day moving average price of $53.99 and a 200-day moving average price of $57.92.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Meridian Wealth Management LLC purchased a new stake in Cree during the 1st quarter valued at about $30,000. Quadrant Capital Group LLC increased its stake in Cree by 501.1% in the 1st quarter. Quadrant Capital Group LLC now owns 541 shares of the LED producer’s stock worth $29,000 after purchasing an additional 451 shares during the period. James Investment Research Inc. bought a new stake in Cree in the first quarter valued at approximately $33,000. Point72 Hong Kong Ltd bought a new stake in Cree in the second quarter valued at approximately $36,000. Finally, Penserra Capital Management LLC boosted its stake in shares of Cree by 50.0% during the first quarter. Penserra Capital Management LLC now owns 1,008 shares of the LED producer’s stock valued at $57,000 after purchasing an additional 336 shares during the period.
Cree Company Profile
Cree, Inc provides lighting-class light emitting diode (LED), lighting, and semiconductor products for power and radio-frequency (RF) applications in the United States, China, Europe, South Korea, Japan, Malaysia, Taiwan, and internationally. It operates in three segments: Wolfspeed, LED Products, and Lighting Products.