Cree (CREE) Receives a Hold from Charter Equity


Charter Equity analyst Edward F. Snyder maintained a Hold rating on Cree (CREE) today. The company’s shares closed last Thursday at $104.84.

According to TipRanks.com, Snyder is a 5-star analyst with an average return of 26.9% and a 72.1% success rate. Snyder covers the Technology sector, focusing on stocks such as Telefonaktiebolaget LM Ericsson, Skyworks Solutions, and Qualcomm.

The word on The Street in general, suggests a Hold analyst consensus rating for Cree with a $99.56 average price target, implying a -5.6% downside from current levels. In a report issued on January 25, Citigroup also maintained a Hold rating on the stock with a $125.00 price target.

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Based on Cree’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $217 million and GAAP net loss of $184 million. In comparison, last year the company earned revenue of $243 million and had a GAAP net loss of $37.8 million.

Based on the recent corporate insider activity of 35 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CREE in relation to earlier this year. Most recently, in November 2020, John Replogle, a Director at CREE sold 4,000 shares for a total of $282,360.

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.

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