Stephens Inc. AR grew its stake in shares of Cree, Inc. (NASDAQ:CREE) by 3.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,344 shares of the LED producer’s stock after buying an additional 501 shares during the quarter. Stephens Inc. AR’s holdings in Cree were worth $656,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also made changes to their positions in CREE. Morgan Stanley lifted its stake in Cree by 6.2% in the third quarter. Morgan Stanley now owns 950,704 shares of the LED producer’s stock valued at $36,002,000 after acquiring an additional 55,155 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of Cree by 2.7% in the third quarter. Legal & General Group Plc now owns 134,576 shares of the LED producer’s stock worth $5,097,000 after buying an additional 3,478 shares during the last quarter. Clean Yield Group acquired a new stake in shares of Cree in the fourth quarter worth $184,000. Man Group plc bought a new position in Cree during the third quarter worth $903,000. Finally, JPMorgan Chase & Co. increased its position in Cree by 8.9% during the third quarter. JPMorgan Chase & Co. now owns 78,854 shares of the LED producer’s stock worth $2,986,000 after acquiring an additional 6,445 shares during the period.
A number of equities analysts recently issued reports on the stock. JMP Securities lowered shares of Cree from an “outperform” rating to a “market perform” rating and set a $49.32 target price on the stock. in a research report on Tuesday, January 29th. They noted that the move was a valuation call. JPMorgan Chase & Co. lowered shares of Cree from a “neutral” rating to an “underweight” rating and set a $35.00 price target on the stock. in a report on Friday, November 30th. Oppenheimer boosted their price target on shares of Cree from $53.00 to $59.00 and gave the company an “outperform” rating in a report on Thursday, January 31st. TheStreet raised shares of Cree from a “c” rating to a “b-” rating in a report on Wednesday, January 9th. Finally, BidaskClub raised shares of Cree from a “buy” rating to a “strong-buy” rating in a report on Tuesday, January 29th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. Cree currently has an average rating of “Buy” and an average target price of $49.94.
NASDAQ CREE traded up $3.43 during trading hours on Friday, reaching $57.00. 107,901 shares of the company’s stock were exchanged, compared to its average volume of 1,180,162. Cree, Inc. has a one year low of $33.72 and a one year high of $55.26. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.27 and a current ratio …read more
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