Oppenheimer analyst Colin Rusch assigned a Hold rating to Cree (CREE) today. The company’s shares closed last Wednesday at $112.73.
According to TipRanks.com, Rusch is a top 25 analyst with an average return of 66.9% and a 64.0% 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 Moderate Buy, with a price target consensus of $123.50, which is a 6.9% upside from current levels. In a report issued on April 26, Morgan Stanley also maintained a Hold rating on the stock with a $100.00 price target.
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The company has a one-year high of $129.90 and a one-year low of $38.65. Currently, Cree has an average volume of 1.65M.
Based on the recent corporate insider activity of 35 insiders, corporate insider sentiment is neutral on the stock.
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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.
