Media coverage about Cree (NASDAQ:CREE) has trended somewhat positive recently, Alpha One Sentiment reports. The research group, a division of Accern, rates the sentiment of media coverage by analyzing more than twenty million blog and news sources. Alpha One ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Cree earned a news sentiment score of 0.04 on Alpha One’s scale. Alpha One also assigned media stories about the LED producer an impact score of 87 out of 100, indicating that recent media coverage is very likely to have an effect on the company’s share price in the next several days.
These are some of the media stories that may have effected Alpha One Sentiment’s scoring:
CREE has been the topic of a number of research reports. Canaccord Genuity upped their target price on Cree from $20.00 to $23.00 and gave the stock a “hold” rating in a research report on Thursday, January 19th. Roth Capital reaffirmed a “buy” rating and set a $33.00 target price (down from $34.00) on shares of Cree in a research report on Friday, March 31st. Needham & Company LLC reaffirmed a “hold” rating on shares of Cree in a research report on Wednesday, January 25th. Williams Capital increased their price target on Cree from $23.00 to $24.00 and gave the company a “hold” rating in a research report on Wednesday, January 25th. Finally, TheStreet raised Cree from a “d+” rating to a “c-” rating in a research report on Tuesday, January 24th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $26.56.
Shares of Cree (NASDAQ:CREE) traded up 0.55% during midday trading on Friday, hitting $22.12. The stock had a trading volume of 993,949 shares. The stock’s market cap is $2.15 billion. Cree has a 12 month low of $20.75 and a 12 month high of $31.64. The stock’s 50-day moving average is $24.81 and its 200-day moving average is $25.70.
Cree (NASDAQ:CREE) last posted its quarterly earnings data on Tuesday, April 25th. The LED producer reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of $0.09 by $0.20. The firm had revenue of $341.51 million for the quarter, compared to analysts’ expectations of $339.41 million. Cree had a negative net margin of 0.26% and a positive return on equity of 1.06%. The firm’s revenue was down 6.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.17 EPS. Equities analysts anticipate that Cree will post $0.48 EPS for the current year.
In other Cree news, Director John B. Replogle acquired 10,000 shares of the company’s stock in a transaction dated Thursday, April 27th. The stock was purchased at an average price of $22.11 per share, with a total value of $221,100.00. Following the completion of the purchase, the director now directly owns 64,043 shares in the company, valued at approximately $1,415,990.73. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.30% of the company’s stock.
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.