Analyst Price Target Update on Cree (NASDAQ:CREE)

Cree (NASDAQ:CREE) should head towards $27.5 per share according to 7 Analysts in consensus. However, if the road gets shaky, the stock may fall short to $23 per share. The higher price estimate target is at $31 according to the Analysts.

Many analysts have stated their opinion on the company shares. Pacific Crest initiates coverage on Cree (NASDAQ:CREE). The rating major has initiated the coverage with sector perform rating on the shares. The rating by the firm was issued on May 13, 2016. Company shares have received an average consensus rating of Hold for the current week

On the companys insider trading activities,The director of Cree Inc, Whitaker Anne Clem sold 623 shares at $30 on February 16, 2016. The Insider selling transaction had a total value worth of $18,690. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.

Cree (NASDAQ:CREE) stock ended Monday session in the red zone in a volatile trading. The stock closed down 0.08 points or 0.33% at $24.16 with 819,178 shares getting traded. Post opening the session at $24.05, the shares hit an intraday low of $23.98 and an intraday high of $24.38 and the price was in this range throughout the day. The company has a market cap of $2,426 million and the number of outstanding shares have been calculated to be 100,427,836 shares. The 52-week high of Cree (NASDAQ:CREE) is $32.92 and the 52-week low is $22.1.

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 Companys products are focused for applications, such as indoor and outdoor lighting, video displays, transportation, electronic signs and signals, power supplies, inverters and wireless systems. The Company has three segments: Lighting Products, LED Products, and Power and RF Products. The Companys Lighting Products segment offers LED lighting systems and bulbs. The Companys LED Products segment offers LED components, LED chips and silicon carbide (SiC) materials. The Companys Power and RF Products segment offers power devices and RF devices. The Company designs, manufactures and markets lighting systems for indoor and outdoor applications, with a focus on LED lighting systems for the commercial, industrial and consumer markets.

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