Cree (CREE) : Girard Securities scooped up 482 additional shares in Cree during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 26,949 shares of Cree which is valued at $748,104.Cree makes up approximately 0.66% of Girard Securities’s portfolio.
Other Hedge Funds, Including , New York Life Trust Co sold out all of its stake in CREE during the most recent quarter. The investment firm sold 1,561 shares of CREE which is valued $43,333. Massachusetts Financial Services Co sold out all of its stake in CREE during the most recent quarter. The investment firm sold 9,201 shares of CREE which is valued $255,420. Daiwa Securities Group sold out all of its stake in CREE during the most recent quarter. The investment firm sold 5,700 shares of CREE which is valued $165,186.
Cree opened for trading at $23.98 and hit $24.42 on the upside on Thursday, eventually ending the session at $24.38, with a gain of 1.54% or 0.37 points. The heightened volatility saw the trading volume jump to 8,94,936 shares. Company has a market cap of $2,459 M.
On the company’s financial health, Cree reported $0.19 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Aug 16, 2016. Analyst had a consensus of $0.20. The company had revenue of $388.40 million for the quarter, compared to analysts expectations of $384.96 million. The company’s revenue was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.19 EPS.
Many Wall Street Analysts have commented on Cree. ROTH Capital Initiated Cree on Aug 25, 2016 to “Buy”, Price Target of the shares are set at $34.Cree was Downgraded by Northland Capital to ” Market Perform” on Aug 17, 2016. Company shares were Reiterated by Deutsche Bank on Jul 15, 2016 to “Hold”, Firm has raised the Price Target to $ 26 from a previous price target of $23 .
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.