Stifel Nicolaus Initiates Coverage on Cree (CREE)
Cree traded up 1.95% on Thursday, hitting $32.36. Cree has a 52-week low of $20.25 and a 52-week high of $33.45. The company has a market cap of $3.742 billion and a price-to-earnings ratio of 66.40.
Cree last announced its earnings results on Tuesday, April 17th. The company reported $0.20 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.21 by $0.01. Cree’s revenue was up 29.9% compared to the same quarter last year. On average, analysts predict that Cree will post $0.28 earnings per share next quarter.
Other equities research analysts have also recently issued reports about the stock. Analysts at GARP Research reiterated a “buy” rating on shares of Cree in a research note to investors on Friday, April 20th. Separately, analysts at Jefferies Group (NYSE: JEF) raised their price target on shares of Cree from $31.00 to $35.00 in a research note to investors on Wednesday, April 18th. They now have a “buy” rating on the stock. Finally, analysts at Canaccord Genuity reiterated a “buy” rating on shares of Cree in a research note to investors on Wednesday, April 18th.
Cree, Inc. (Cree) develops and manufactures semiconductor materials and devices primarily based on silicon carbide (SiC), gallium nitride (GaN) and related compounds.