The Public Employees Retirement Association of Colorado Lowers Stake in Cree, Inc. (CREE)

The Public Employees Retirement Association of Colorado Lowers Stake in Cree, Inc. (CREE)

Several other hedge funds have also recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its position in shares of Cree by 26.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,843,130 shares of the LED producer’s stock valued at $154,202,000 after buying an additional 1,212,361 shares during the period. Norges Bank bought a new position in shares of Cree during the fourth quarter valued at about $14,662,000. Two Sigma Investments LP bought a new position in shares of Cree during the fourth quarter valued at about $7,075,000. FIL Ltd boosted its position in shares of Cree by 38.2% in the fourth quarter. FIL Ltd now owns 871,806 shares of the LED producer’s stock valued at $23,007,000 after buying an additional 240,852 shares during the period. Finally, Royce & Associates LP boosted its position in shares of Cree by 50.0% in the fourth quarter. Royce & Associates LP now owns 692,701 shares of the LED producer’s stock valued at $18,280,000 after buying an additional 230,787 shares during the period. Institutional investors and hedge funds own 84.38% of the company’s stock.

Public Employees Retirement Association of Colorado lowered its position in Cree, Inc. (NASDAQ:CREE) by 0.2% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 18,481 shares of the LED producer’s stock after selling 40 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Cree were worth $494,000 at the end of the most recent reporting period.

Shares of Cree, Inc. (NASDAQ:CREE) opened at 24.14 on Monday. The stock’s 50 day moving average price is $23.26 and its 200 day moving average price is $25.84. Cree, Inc. has a 52 week low of $20.75 and a 52 week high of $31.64. The stock’s market cap is $2.35 billion.

Cree (NASDAQ:CREE) last posted its quarterly earnings data on Tuesday, April 25th. The LED producer reported ($0.11) EPS for the quarter, missing the Zacks’ consensus estimate of $0.09 by $0.20. Cree had a negative net margin of 0.26% and a positive return on equity of 1.06%. The company had revenue of $341.51 million for the quarter, compared to analyst estimates of $339.41 million. During the same quarter in the prior year, the business earned $0.17 EPS. Cree’s revenue was down 6.9% compared to the same quarter last year. Equities research analysts anticipate that Cree, Inc. will post $0.48 EPS for the current fiscal year.

Several brokerages recently issued reports on CREE. Cowen and Company restated a “market perform” rating on shares of Cree in a research report on Wednesday, April 26th. TheStreet cut Cree from a “c-” rating to a “d+” rating in a research report on Wednesday, May 17th. JMP Securities upgraded Cree from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $23.81 to $29.00 in a research report on Monday, May 22nd. Canaccord Genuity restated a “hold” rating and issued a $23.00 price target on shares of Cree in a research report on Friday, April 21st. Finally, Zacks Investment Research cut Cree from a “hold” rating to a “strong sell” rating in a research report on Monday, May 1st. Two analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company’s stock. Cree currently has an average rating of “Hold” and an average price target of $26.63.

In related news, Director John B. Replogle acquired 10,000 shares of the stock in a transaction that occurred on Thursday, April 27th. The shares were acquired at an average price of $22.11 per share, for a total transaction of $221,100.00. Following the completion of the purchase, the director now directly owns 64,043 shares of the company’s stock, valued at $1,415,990.73. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.30% of the stock is owned by company insiders. Cree Company Profile

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:CREE”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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