According to Zacks, analysts expect that Cree will report full year earnings of $0.03 per share for the current fiscal year. For the next fiscal year, analysts anticipate that the company will report earnings of $0.20 per share. Zacks’ EPS averages are an average based on a survey of analysts that follow Cree.
Analysts forecast that Cree, Inc. (NASDAQ:CREE) will report earnings of ($0.09) per share for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Cree’s earnings. Cree reported earnings of $0.06 per share in the same quarter last year, which would indicate a negative year over year growth rate of 250%. The firm is expected to issue its next earnings results on Tuesday, August 15th.
Cree (NASDAQ:CREE) last issued its earnings results on Tuesday, April 25th. The LED producer reported ($0.11) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.09 by $0.20. The business had revenue of $341.51 million for the quarter, compared to the consensus estimate of $339.41 million. Cree had a positive return on equity of 1.06% and a negative net margin of 0.26%. The company’s quarterly revenue was down 6.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.17 earnings per share. Several research analysts have recently weighed in on the stock. Canaccord Genuity upped their price target on shares of Cree from $20.00 to $23.00 and gave the company a “hold” rating in a report on Thursday, January 19th. Roth Capital reiterated a “buy” rating and issued a $33.00 price target (down previously from $34.00) on shares of Cree in a report on Friday, March 31st. Needham & Company LLC reiterated a “hold” rating on shares of Cree in a report on Wednesday, January 25th. Williams Capital upped their price target on shares of Cree from $23.00 to $24.00 and gave the company a “hold” rating in a report on Wednesday, January 25th. Finally, TheStreet upgraded shares of Cree from a “d+” rating to a “c-” rating in a report on Tuesday, January 24th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $27.00.
In other Cree news, Director John B. Replogle bought 10,000 shares of Cree stock in a transaction that occurred on Thursday, April 27th. The stock was acquired at an average price of $22.11 per share, for a total transaction of $221,100.00. Following the completion of the acquisition, the director now owns 64,043 shares of the company’s stock, valued at approximately $1,415,990.73. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.30% of the company’s stock. A number of hedge funds and other institutional investors have recently made changes to their positions in CREE. Physicians Financial Services Inc. boosted its position in shares of Cree by 1.8% in the third quarter. Physicians Financial Services Inc. now owns 5,725 shares of the LED producer’s stock valued at $147,000 after buying an additional 100 shares during the last quarter. AMG Funds LLC boosted its position in shares of Cree by 0.3% in the first quarter. AMG Funds LLC now owns 74,083 shares of the LED producer’s stock valued at $1,980,000 after buying an additional 213 shares during the last quarter. First Republic Investment Management Inc. boosted its position in shares of Cree by 2.5% in the fourth quarter. First Republic Investment Management Inc. now owns 12,591 shares of the LED producer’s stock valued at $332,000 after buying an additional 309 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in shares of Cree by 1.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 18,982 shares of the LED producer’s stock valued at $507,000 after buying an additional 350 shares during the last quarter. Finally, Clean Yield Group boosted its position in shares of Cree by 1.5% in the first quarter. Clean Yield Group now owns 27,815 shares of the LED producer’s stock valued at $743,000 after buying an additional 410 shares during the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.
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.
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