Cree (CREE) Receives Coverage Optimism Rating of 0.13

Media coverage about Cree (NASDAQ:CREE) has trended somewhat positive on Saturday, Accern Sentiment reports. The research group identifies positive and negative media coverage by reviewing more than 20 million blog and news sources. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Cree earned a daily sentiment score of 0.13 on Accern’s scale. Accern also gave news stories about the LED producer an impact score of 45.8017195204462 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the immediate future.

These are some of the news stories that may have effected Accern’s scoring:

A number of research firms have weighed in on CREE. J P Morgan Chase & Co restated a “neutral” rating and issued a $26.00 price target (up previously from $25.00) on shares of Cree in a report on Monday, June 5th. Roth Capital restated a “buy” rating and issued a $29.00 price target (up previously from $27.00) on shares of Cree in a report on Tuesday, June 20th. Zacks Investment Research raised Cree from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 27th. BidaskClub raised Cree from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. Finally, Stephens lowered Cree from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $27.50 to $16.50 in a research report on Wednesday, August 23rd. They noted that the move was a valuation call. Five investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $23.73.

Cree (CREE) opened at 24.98 on Friday. The company’s market capitalization is $2.44 billion. Cree has a 52 week low of $20.50 and a 52 week high of $31.64. The company’s 50-day moving average price is $23.91 and its 200-day moving average price is $24.64.

Cree (NASDAQ:CREE) last issued its quarterly earnings data on Tuesday, August 22nd. The LED producer reported $0.04 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.04. Cree had a negative return on equity of 0.13% and a negative net margin of 7.17%. The firm had revenue of $359.00 million during the quarter, compared to the consensus estimate of $349.82 million. During the same quarter in the previous year, the company posted $0.19 EPS. The business’s revenue for the quarter was down 7.6% compared to the same quarter last year. On average, equities analysts forecast that Cree will post $0.36 EPS for the current fiscal year.

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About Cree

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. The Company’s products are focused for applications, such as indoor and outdoor lighting, video displays, transportation, electronic signs and signals, power supplies, inverters and wireless systems.

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