After Today’s Huge Decline, Is Cree, Inc.’s Near-Term Analysis Negative?

The stock of Cree, Inc. (NASDAQ:CREE) is a huge mover today! The stock decreased 3.45% or $1.04 during the last trading session, hitting $29.1. About 1.11 million shares traded hands. Cree, Inc. (NASDAQ:CREE) has risen 14.56% since August 24, 2015 and is uptrending. It has outperformed by 5.54% the S&P500. The move comes after 9 months negative chart setup for the $3.00B company. It was reported on Mar, 31 by We have $27.35 PT which if reached, will make NASDAQ:CREE worth $180.00 million less.

Analysts await Cree, Inc. (NASDAQ:CREE) to reports earnings on April, 26 after the close. They expect $0.10 earnings per share, up 11.11% or $0.01 from last year’s $0.09 per share. CREE’s profit will be $10.31 million for 72.75 P/E if the $0.10 EPS becomes reality. After $0.18 actual earnings per share reported by Cree, Inc. for the previous quarter, Wall Street now forecasts -44.44% negative EPS growth.

Out of 9 analysts covering Cree Inc. (NASDAQ:CREE), 5 rate it “Buy”, 1 “Sell”, while 10 “Hold”. This means 31% are positive. Cree Inc. was the topic in 8 analyst reports since August 12, 2015 according to StockzIntelligence Inc.

According to Zacks Investment Research, “Cree, Inc. is a market-leading innovator and manufacturer of semiconductors that enhance the value of solid-state lighting, power and communications products by significantly increasing their energy performance and efficiency. Key to Cree’s market advantage is its world-class materials expertise in silicon carbide and gallium nitride for chips and packaged devices that can handle more power in a smaller space while producing less heat than other available technologies, materials and products. Cree drives its increased performance technology into multiple applications, including exciting alternatives in brighter and more-tunable light for general illumination, backlighting for more-vivid displays, optimized power management for high-current switch-mode power supplies and variable-speed motors, and more-effective wireless infrastructure for data and voice communications. Cree customers range from innovative lighting-fixtures makers to defense-related federal agencies.”

The institutional sentiment decreased to 0.61 in 2015 Q3. Its down 0.03, from 0.64 in 2015Q2. The ratio dived, as 45 funds sold all Cree, Inc. shares owned while 106 reduced positions. 33 funds bought stakes while 59 increased positions. They now own 99.80 million shares or 5.80% more from 94.33 million shares in 2015Q2.

Fairpointe Capital Llc holds 3.46% of its portfolio in Cree, Inc. for 8.38 million shares. Domini Social Investments Llc owns 8,341 shares or 3.3% of their US portfolio. Moreover, Princeton Capital Management Inc has 1.64% invested in the company for 111,623 shares. The New Hampshire-based D L Carlson Investment Group Inc has invested 1.62% in the stock. Aston Asset Management Llc, a Illinois-based fund reported 103,538 shares.

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