467 institutions hold shares in Cree Inc. (CREE), with 553.97k shares held by insiders accounting for 0.50% while institutional investors hold 113.11% of the company’s shares. The shares outstanding are 110.69M, and float is at 110.47M with Short Float at 9.27%. Institutions hold 112.54% of the Float.
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The top institutional shareholder in the company is Blackrock Inc. with over 14.07 million shares valued at $1.49 billion. The investor’s holdings represent 12.68% of the CREE Shares outstanding. As of Dec 30, 2020, the second largest holder is Capital Research Global Investors with 13.52 million shares valued at $1.43 billion to account for 12.18% of the shares outstanding. The other top investors are Vanguard Group, Inc. (The) which holds 10.16 million shares representing 9.15% and valued at over $1.08 billion, while Capital International Investors holds 7.43% of the shares totaling 8.25 million with a market value of $873.5 million.
Cree Inc. (NASDAQ: CREE) is -3.91% lower on its value in year-to-date trading and has touched a low of $31.08 and a high of $129.90 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The CREE stock was last observed hovering at around $108.69 in the last trading session, with the day’s loss setting it -6.93% off its average median price target of $109.00 for the next 12 months. It is also 36.4% off the consensus price target high of $160.00 offered by 16 analysts, but current levels are -45.37% lower than the price target low of $70.00 for the same period.
Currently trading at $101.76, the stock is -7.02% and -10.51% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.59 million and changing -6.38% at the moment leaves the stock 23.43% off its SMA200. CREE registered 208.55% gain for a year compared to 6-month gain of 74.22%. The firm has a 50-day simple moving average (SMA 50) of $113.80 and a 200-day simple moving average (SMA200) of $91.17.
The stock witnessed a -13.10% loss in the last 1 month and extending the period to 3 months gives it a 4.13%, and is -10.76% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 6.63% over the week and 7.69% over the month.
Cree Inc. (CREE) has around 5130 employees, a market worth around $11.15B and $663.70M in sales. Profit margin for the company is -55.60%. Distance from 52-week low is 227.41% and -21.66% from its 52-week high. The company has generated returns on investments over the last 12 months (-6.60%).
Cree Inc. (CREE) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Cree Inc. (CREE) is a “Hold”. 16 analysts offering their recommendations for the stock have an average rating of 2.60, where 10 rate it as a Hold and 0 think it is a “Overweight”. 5 of the analysts rate the stock as a “Buy”. 1 analysts have rated the stock as a Sell or Underperform.
Cree Inc. is expected to release its quarterly report on 04/27/2021 and quarterly earnings per share for the current quarter are estimated at -$0.23 with sales reaching $130.21M over the same period.The EPS is expected to shrink by -217.70% this year, but quarterly earnings will post -32.00% year-over-year. Quarterly sales are estimated to shrink -39.60% in year-over-year returns.
Cree Inc. (CREE) Insider Activity
A total of 22 insider transactions have happened at Cree Inc. (CREE) in the last six months, with sales accounting for 13 and purchases happening 9 times. The most recent transaction is an insider purchase by LE DUY LOAN T, the company’s Director. SEC filings show that LE DUY LOAN T bought 1,000 shares of the company’s common stock on Feb 26 at a price of $105.77 per share for a total of $0.11 million. Following the purchase, the insider now owns 17311.0 shares.
Cree Inc. disclosed in a document filed with the SEC on Feb 19 that HOSEIN CLYDE (Director) sold a total of 13,816 shares of the company’s common stock. The trade occurred on Feb 19 and was made at $125.48 per share for $1.73 million. Following the transaction, the insider now directly holds 48369.0 shares of the CREE stock.
Still, SEC filings show that on Feb 01, REPLOGLE JOHN B (Director) disposed off 1,722 shares at an average price of $103.60 for $0.18 million. The insider now directly holds 61,448 shares of Cree Inc. (CREE).
Cree Inc. (CREE): Who are the competitors?
The company’s main competitors (and peers) include II-VI Incorporated (IIVI) that is trading 150.48% up over the past 12 months and ON Semiconductor Corporation (ON) that is 235.77% higher over the same period. SemiLEDs Corporation (LEDS) is 212.50% up on the 1-year trading charts. Short interest in the company’s stock has fallen -0.29% from the last report on Jan 28, 2021 to stand at a total of 10.27 million short shares sold with a short interest ratio of 5.12.