In a report released today, Colin Rusch from Oppenheimer maintained a Hold rating on Cree (CREE). The company’s shares closed last Tuesday at $68.44, close to its 52-week high of $74.72.
According to TipRanks.com, Rusch is a top 100 analyst with an average return of 30.8% and a 58.3% success rate. Rusch covers the Industrial Goods sector, focusing on stocks such as American Superconductor, SolarEdge Technologies, and Westport Fuel Systems.
Cree has an analyst consensus of Hold, with a price target consensus of $68.29, which is a -5.1% downside from current levels. In a report issued on August 12, Citigroup also initiated coverage with a Hold rating on the stock with a $82.00 price target.
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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 1.26M.
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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.
