BMO Capital analyst Ambrish Srivastava maintained a Buy rating on Cree (CREE) yesterday and set a price target of $55. The company’s shares closed yesterday at $42.84.
According to TipRanks.com, Srivastava is a 5-star analyst with an average return of 10.2% and a 70.9% success rate. Srivastava covers the Consumer Goods sector, focusing on stocks such as Skyworks Solutions, Texas Instruments, and Maxim Integrated.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Cree with a $49.67 average price target, a 15.9% upside from current levels. In a report issued on November 8, Goldman Sachs also upgraded the stock to Buy with a $58 price target.
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The company has a one-year high of $51.78 and a one-year low of $30.78. Currently, Cree has an average volume of 1.81M.
Based on the recent corporate insider activity of 32 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CREE in relation to earlier this year. Most recently, in August 2018, Robert Alexander Ingram, a Director at CREE bought 4,000 shares for a total of $123,680.
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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: Wolfspeed, LED Products, and Lighting Products.
