Morgan Stanley slashes price target on Cree Inc. [CREE] – find out why.

Cree Inc. [NASDAQ: CREE] traded at a high on 12/08/20, posting a 9.13 gain after which it closed the day’ session at $99.06. The company report on December 1, 2020 that Cree, Inc. to Present at Upcoming Virtual Investor Conferences.

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Cree, Inc. (Nasdaq: CREE) announced that its senior management will present at the following virtual investor conferences:.

Neill Reynolds, Chief Financial Officer, will present at the Wells Fargo TMT Summit on December 1, 2020 at 8:40 a.m. ET.

The results of the trading session contributed to over 2936721 shares changing hands. Over the past one week, the price volatility of Cree Inc. stands at 4.21% while the volatility over the past one month is 5.11%.

The market cap for CREE stock reached $10.73 billion, with 110.34 million shares outstanding and 109.77 million shares in the current float. Compared to the average trading volume of 1.20M shares, CREE reached a trading volume of 2936721 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Cree Inc. [CREE]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CREE shares is $71.15 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CREE stock is a recommendation set at 2.80. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Morgan Stanley have made an estimate for Cree Inc. shares, keeping their opinion on the stock as Equal-Weight, with their previous recommendation back on December 07, 2020. The new note on the price target was released on November 20, 2020, representing the official price target for Cree Inc. stock. Previously, the target price had yet another raise to $90, while JP Morgan analysts kept a Overweight rating on CREE stock.

The Average True Range (ATR) for Cree Inc. is set at 4.11, with the Price to Sales ratio for CREE stock in the period of the last 12 months amounting to 12.23. The Price to Book ratio for the last quarter was 5.69, with the Price to Cash per share for the same quarter was set at 10.51.

How has CREE stock performed recently?

Cree Inc. [CREE] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 10.43. With this latest performance, CREE shares gained by 39.70% in over the last four-week period, additionally plugging by 64.55% over the last 6 months – not to mention a rise of 128.67% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CREE stock in for the last two-week period is set at 76.11, with the RSI for the last a single of trading hit 78.68, and the three-weeks RSI is set at 73.21 for Cree Inc. [CREE]. The present Moving Average for the last 50 days of trading for this stock 73.93, while it was recorded at 92.97 for the last single week of trading, and 58.58 for the last 200 days.

Cree Inc. [CREE]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Cree Inc. [CREE] shares currently have an operating margin of -18.13 and a Gross Margin at +25.87. Cree Inc.’s Net Margin is presently recorded at -21.21.

Return on Total Capital for CREE is now -6.06, given the latest momentum, and Return on Invested Capital for the company is -7.11. Return on Equity for this stock declined to -9.31, with Return on Assets sitting at -6.34. When it comes to the capital structure of this company, Cree Inc. [CREE] has a Total Debt to Total Equity ratio set at 39.01. Additionally, CREE Total Debt to Total Capital is recorded at 28.06, with Total Debt to Total Assets ending up at 25.15. Long-Term Debt to Equity for the company is recorded at 38.59, with the Long-Term Debt to Total Capital now at 27.76.

Reflecting on the efficiency of the workforce at the company, Cree Inc. [CREE] managed to generate an average of -$37,368 per employee. Receivables Turnover for the company is 7.24 with a Total Asset Turnover recorded at a value of 0.30.Cree Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.80 and a Current Ratio set at 4.30.

Earnings analysis for Cree Inc. [CREE]

With the latest financial reports released by the company, Cree Inc. posted -0.1/share EPS, while the average EPS was predicted by analysts to be reported at -0.09/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -11.10%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CREE.

Insider trade positions for Cree Inc. [CREE]

There are presently around $11,585 million, in the hands of institutional investors. The top three institutional holders of CREE stocks are: CAPITAL RESEARCH GLOBAL INVESTORS with ownership of 13,435,964, which is approximately 2.524% of the company’s market cap and around 0.80% of the total institutional ownership; BLACKROCK INC., holding 13,026,096 shares of the stock with an approximate value of $1.29 billion in CREE stocks shares; and VANGUARD GROUP INC, currently with $981.07 million in CREE stock with ownership of nearly -2.85% of the company’s market capitalization.

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Positions in Cree Inc. stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 143 institutional holders increased their position in Cree Inc. [NASDAQ:CREE] by around 9,346,770 shares. Additionally, 164 investors decreased positions by around 5,868,029 shares, while 61 investors held positions by with 101,732,596 shares. The mentioned changes placed institutional holdings at 116,947,395 shares, according to the latest SEC report filing. CREE stock had 50 new institutional investments in for a total of 1,512,098 shares, while 36 institutional investors sold positions of 135,785 shares during the same period.

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