In a report released today, Edward F. Snyder from Charter Equity maintained a Buy rating on Cree (CREE). The company’s shares closed last Monday at $58.75.
According to TipRanks.com, Snyder is a 5-star analyst with an average return of 21.2% and a 64.8% success rate. Snyder covers the Technology sector, focusing on stocks such as Telefonaktiebolaget LM Ericsson, Skyworks Solutions, and Texas Instruments.
Currently, the analyst consensus on Cree is a Moderate Buy with an average price target of $69.13, implying a 14.3% upside from current levels. In a report issued on September 10, Canaccord Genuity also maintained a Buy rating on the stock with a $79.00 price target.
See today’s analyst top recommended stocks >>
The company has a one-year high of $74.72 and a one-year low of $27.77. Currently, Cree has an average volume of 1.09M.
Based on the recent corporate insider activity of 31 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. Last month, Thomas H. Werner, a Director at CREE bought 4,000 shares for a total of $218,400.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Cree, Inc. is a manufacturer 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. The Wolfspeed segment products consists of silicon carbide (SiC) and gallium nitride (GaN) materials, power devices and RF devices based on silicon (Si) and wide bandgap semiconductor materials. The LED Products segment includes LED chips, LED components and SiC materials. The Lighting Products segment consists of LED lighting systems and bulbs for the commercial, industrial and consumer markets. The Power and RF Products segment includes power devices and RF devices. The company was founded by Calvin H. Carter Jr., John W. Palmour, F. Neal Hunter, Eric Hunter, and John Edmond in 1987 and is headquartered in Durham, NC.
