Canaccord Genuity Assumes Cree to Hold

Brokerage firm Canaccord Genuity Assumes its rating on Cree(NASDAQ:CREE). The shares have been rated Hold. The rating by Canaccord Genuity was issued on Sep 23, 2016.

In a different note, Roth Capital said it Initiates Coverage on Cree, according to a research note issued on Aug 24, 2016. The shares have been rated ‘Buy’ by the firm. On Aug 17, 2016, UBS said it Downgrades its rating on Cree. The shares have been rated ‘Sell’ by the firm. On Aug 17, 2016, Goldman Sachs said it Maintains its rating on Cree. In the research note, the firm Lowers the price-target to $20.00 per share. The shares have been rated ‘Sell’ by the firm. On Aug 17, 2016, Northland Securities said it Downgrades its rating on Cree. The shares have been rated ‘Market Perform’ by the firm. On Jul 15, 2016, Deutsche Bank said it Maintains its rating on Cree. In the research note, the firm Raises the price-target to $23.00 per share. The shares have been rated ‘Hold’ by the firm.

Cree (CREE) made into the market gainers list on Tuesdays trading session with the shares advancing 1.89% or 0.47 points. Due to strong positive momentum, the stock ended at $25.36, which is also near the day’s high of $25.37. The stock began the session at $24.94 and the volume stood at 5,27,185 shares. The 52-week high of the shares is $32.92 and the 52 week low is $22.1. The company has a current market capitalization of $2,558 M and it has 10,08,50,243 shares in outstanding.

Cree(CREE) last announced its earnings results on Aug 16, 2016 for Fiscal Year 2016 and Q4.Company reported revenue of $388.41M. Analysts had an estimated revenue of $385.83M. Earnings per share were $0.19. Analysts had estimated an EPS of $0.20.

Several Insider Transactions has been reported to the SEC. On Aug 18, 2016, John B Replogle (director) purchased 5,000 shares at $23.33 per share price.Also, On Feb 18, 2016, Anne Clem Whitaker (director) sold 623 shares at $30.00 per share price.On Dec 3, 2015, Robert Alexander Ingram (director) sold 3,750 shares at $27.67 per share price, according to the Form-4 filing with the securities and exchange commission.

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. The Company has three segments: Lighting Products LED Products and Power and RF Products. The Company’s Lighting Products segment offers LED lighting systems and bulbs. The Company’s LED Products segment offers LED components LED chips and silicon carbide (SiC) materials. The Company’s 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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