Dimensional Fund Advisors LP Acquires 1,212,361 Shares of Cree, Inc. (CREE)

Dimensional Fund Advisors LP raised its position in Cree, Inc. (NASDAQ:CREE) by 26.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,843,130 shares of the LED producer’s stock after buying an additional 1,212,361 shares during the period. Dimensional Fund Advisors LP owned about 5.93% of Cree worth $154,202,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of CREE. State of Tennessee Treasury Department raised its position in Cree by 154.1% in the third quarter. State of Tennessee Treasury Department now owns 181,400 shares of the LED producer’s stock valued at $4,666,000 after buying an additional 110,000 shares during the last quarter. BlackRock Fund Advisors raised its position in Cree by 9.5% in the third quarter. BlackRock Fund Advisors now owns 3,811,409 shares of the LED producer’s stock valued at $98,029,000 after buying an additional 329,528 shares during the last quarter. OMERS ADMINISTRATION Corp raised its position in Cree by 51.8% in the third quarter. OMERS ADMINISTRATION Corp now owns 81,800 shares of the LED producer’s stock valued at $2,104,000 after buying an additional 27,900 shares during the last quarter. New York State Common Retirement Fund raised its position in Cree by 9.7% in the third quarter. New York State Common Retirement Fund now owns 318,584 shares of the LED producer’s stock valued at $8,194,000 after buying an additional 28,266 shares during the last quarter. Finally, Mutual of America Capital Management LLC raised its position in Cree by 1.3% in the third quarter. Mutual of America Capital Management LLC now owns 75,586 shares of the LED producer’s stock valued at $1,944,000 after buying an additional 1,001 shares during the last quarter. Institutional investors own 84.38% of the company’s stock.

Institutional Ownership by Quarter for Cree (NASDAQ:CREE)

Cree, Inc. (NASDAQ:CREE) traded up 0.08% during midday trading on Friday, hitting $26.23. 79,484 shares of the stock traded hands. The stock’s market capitalization is $2.58 billion. Cree, Inc. has a 52 week low of $20.75 and a 52 week high of $32.92. The stock’s 50-day moving average price is $27.31 and its 200-day moving average price is $25.59.

Cree (NASDAQ:CREE) last released its earnings results on Tuesday, January 24th. The LED producer reported $0.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.22. Cree had a negative net margin of 0.26% and a positive return on equity of 1.06%. The company had revenue of $347 million for the quarter, compared to analyst estimates of $328.54 million. During the same quarter last year, the firm earned $0.30 EPS. The firm’s quarterly revenue was down 11.9% compared to the same quarter last year. Equities research analysts expect that Cree, Inc. will post $0.51 EPS for the current fiscal year.

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Several equities analysts recently issued reports on CREE shares. Zacks Investment Research lowered shares of Cree from a “hold” rating to a “sell” rating in a report on Monday, October 31st. Goldman Sachs Group, Inc. (The) set a $17.00 target price on shares of Cree and gave the company a “sell” rating in a report on Tuesday, December 27th. TheStreet lowered shares of Cree from a “hold” rating to a “sell” rating in a report on Friday, October 21st. Canaccord Genuity set a $20.00 target price on shares of Cree and gave the company a “hold” rating in a report on Tuesday, November 8th. Finally, Needham & Company LLC restated a “hold” rating on shares of Cree in a report on Friday, October 21st. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $32.50.

Cree Company Profile

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.

5 Day Chart for NASDAQ:CREE

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