Today it was reported that a Director at Cree (NASDAQ: CREE), Clyde Hosein, exercised options to buy 8,000 CREE shares at $29.34 a share, for a total transaction value of $234.8K. The options were close to expired and Clyde Hosein retained stocks.
Following Clyde Hosein’s last CREE Buy transaction on September 03, 2015, the stock climbed by 19.4%. This recent transaction increases Clyde Hosein’s holding in the company by 16.41% to a total of $2.79 million.
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Based on Cree’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $409 million and GAAP net loss of $33.26 million. In comparison, last year the company earned revenue of $359 million and had a GAAP net loss of $5.89 million. Currently, Cree has an average volume of 1.17M.
26 different firms, including Ascendiant and B.Riley FBR, currently also have a Buy rating on the stock. Based on 6 analyst ratings, the analyst consensus is Moderate Buy with an average price target of $50.40, reflecting a 9.5% upside.
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Cree, Inc. operates as an innovator of lighting-class light emitting diode (LED) products, lighting products and semiconductor products for power and radio-frequency (RF) applications. It operates through the following segments: LED Products, Lighting Products, Power and RF Products segments.
