539 institutions hold shares in Cree Inc. (CREE), with 531.77k shares held by insiders accounting for 0.48% while institutional investors hold 114.49% of the company’s shares. The shares outstanding are 110.69M, and float is at 110.47M with Short Float at 9.58%. Institutions hold 113.94% 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 11.02% higher on its value in year-to-date trading and has touched a low of $34.17 and a high of $129.90 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The CREE stock was last observed hovering at around $115.74 in the last trading session, with the day’s gains setting it 1.83% off its average median price target of $109.00 for the next 12 months. It is also 26.52% off the consensus price target high of $160.00 offered by 16 analysts, but current levels are -67.96% lower than the price target low of $70.00 for the same period.
Currently trading at $117.57, the stock is 9.96% and 5.37% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.67 million and changing 1.58% at the moment leaves the stock 39.13% off its SMA200. CREE registered 249.49% gain for a year compared to 6-month gain of 83.50%. The firm has a 50-day simple moving average (SMA 50) of $109.80 and a 200-day simple moving average (SMA200) of $93.74.
The stock witnessed a 10.40% loss in the last 1 month and extending the period to 3 months gives it a 9.89%, and is 17.04% up 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 5.23% over the week and 5.97% over the month.
Cree Inc. (CREE) has around 5130 employees, a market worth around $12.25B and $663.70M in sales. Profit margin for the company is -55.60%. Distance from 52-week low is 244.07% and -9.49% 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 08/17/2021 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 19 insider transactions have happened at Cree Inc. (CREE) in the last six months, with sales accounting for 11 and purchases happening 8 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 211.22% up over the past 12 months and ON Semiconductor Corporation (ON) that is 298.26% higher over the same period. SemiLEDs Corporation (LEDS) is 149.22% up on the 1-year trading charts. Short interest in the company’s stock has risen 2.64% from the last report on Feb 11, 2021 to stand at a total of 10.31 million short shares sold with a short interest ratio of 5.48.