What’s Propelling Cree, Inc. (CREE) to Reach 52-Week High?

November 21, 2017 - By Louis Casey

Investors sentiment increased to 1.17 in Q2 2017. Its up 0.03, from 1.14 in 2017Q1. It is positive, as 30 investors sold Cree, Inc. shares while 64 reduced holdings. 27 funds opened positions while 83 raised stakes. 88.54 million shares or 6.34% more from 83.26 million shares in 2017Q1 were reported.
Loring Wolcott Coolidge Fiduciary Advsrs Limited Liability Partnership Ma owns 0% invested in Cree, Inc. (NASDAQ:CREE) for 705 shares. Incorporated reported 0.02% in Cree, Inc. (NASDAQ:CREE). Retirement Of Alabama has 125,419 shares. Jacobs Levy Equity Management stated it has 25,200 shares. Credit Agricole S A has invested 0.01% of its portfolio in Cree, Inc. (NASDAQ:CREE). Advisory Services Network Ltd Llc accumulated 4,613 shares. Public Employees Retirement System Of Ohio holds 0% or 8,767 shares. Gemmer Asset Management Llc reported 125 shares or 0% of all its holdings. Texas Permanent School Fund holds 0.02% of its portfolio in Cree, Inc. (NASDAQ:CREE) for 71,031 shares. Moreover, Ubs Asset Mgmt Americas has 0% invested in Cree, Inc. (NASDAQ:CREE). Brandywine Invest Limited Com holds 0.06% of its portfolio in Cree, Inc. (NASDAQ:CREE) for 361,870 shares. Reilly Financial Advsrs Ltd Co has invested 0% in Cree, Inc. (NASDAQ:CREE). Barclays Public Limited Com has invested 0% in Cree, Inc. (NASDAQ:CREE). Canada Pension Plan Investment Board holds 0.03% or 479,533 shares in its portfolio. Pacad Inv Ltd accumulated 1,797 shares.

The stock of Cree, Inc. (NASDAQ:CREE) hit a new 52-week high and has $39.41 target or 6.00 % above today’s $37.18 share price. The 8 months bullish chart indicates low risk for the $3.65B company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $39.41 price target is reached, the company will be worth $219.00 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

About 157,664 shares traded. Cree, Inc. (NASDAQ:CREE) has risen 2.53% since November 21, 2016 and is uptrending. It has underperformed by 14.17% the S&P500.

Analysts expect Cree, Inc. (NASDAQ:CREE) to report $-0.10 EPS on January, 23.They anticipate $0.19 EPS change or 211.11 % from last quarter’s $0.09 EPS. After having $-0.04 EPS previously, Cree, Inc.’s analysts see 150.00 % EPS growth.

Cree, Inc. (NASDAQ:CREE) Ratings Coverage

Among 19 analysts covering Cree Inc. (NASDAQ:CREE), 5 have Buy rating, 5 Sell and 9 Hold. Therefore 26% are positive. Cree Inc. has $45.0 highest and $18 lowest target. $29.29’s average target is -21.22% below currents $37.18 stock price. Cree Inc. had 47 analyst reports since August 12, 2015 according to SRatingsIntel. Cowen & Co maintained it with “Hold” rating and $21.5 target in Wednesday, August 23 report. On Wednesday, August 23 the stock rating was maintained by Deutsche Bank with “Hold”. Northland Capital maintained the stock with “Hold” rating in Wednesday, August 23 report. The stock of Cree, Inc. (NASDAQ:CREE) has “Neutral” rating given on Wednesday, October 18 by Bank of America. The firm has “Sector Perform” rating given on Friday, May 13 by Pacific Crest. JMP Securities downgraded the stock to “Mkt Perform” rating in Thursday, February 9 report. The company was downgraded on Wednesday, August 17 by UBS. The firm has “Hold” rating by Cowen & Co given on Friday, September 22. The company was maintained on Tuesday, August 22 by Canaccord Genuity. The stock has “Hold” rating by Oppenheimer on Tuesday, August 22.

More news for Cree, Inc. (NASDAQ:CREE) were recently published by: Businesswire.com, which released: “Cree Launches Market-Leading KBL LED High-Bay Series” on November 07, 2017. Finance.Yahoo.com‘s article titled: “How Cree, Inc. Stock Rose 27% in October” and published on November 06, 2017 is yet another important article.

Cree, Inc. is a manufacturer of lighting-class light emitting diode products, lighting products and semiconductor products for power and radio-frequency (RF) applications. The company has market cap of $3.65 billion. 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. It currently has negative earnings. The Firm has three divisions: Lighting Products, LED Products, and Power and RF Products.

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