Radnor Capital Management LLC lessened its holdings in shares of Cree, Inc. (NASDAQ:CREE) by 36.9% in the second quarter, Holdings Channel.com reports. The institutional investor owned 6,200 shares of the LED producer’s stock after selling 3,620 shares during the quarter. Radnor Capital Management LLC’s holdings in Cree were worth $348,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in the stock. Meridian Wealth Management LLC acquired a new stake in shares of Cree in the 1st quarter worth approximately $30,000. Quadrant Capital Group LLC lifted its stake in shares of Cree by 501.1% in the 1st quarter. Quadrant Capital Group LLC now owns 541 shares of the LED producer’s stock worth $29,000 after acquiring an additional 451 shares during the period. James Investment Research Inc. acquired a new stake in shares of Cree in the 1st quarter worth approximately $33,000. FNY Investment Advisers LLC acquired a new stake in shares of Cree in the 1st quarter worth approximately $42,000. Finally, Penserra Capital Management LLC lifted its stake in shares of Cree by 50.0% in the 1st quarter. Penserra Capital Management LLC now owns 1,008 shares of the LED producer’s stock worth $57,000 after acquiring an additional 336 shares during the period.

A number of analysts have recently weighed in on the stock. BidaskClub lowered shares of Woodward, Inc.Common Stock from a “strong-buy” rating to a “buy” rating in a research note on Saturday. JMP Securities upped their price target on shares of Cree from $71.00 to $81.00 and gave the stock a “market outperform” rating in a research note on Monday, June 17th. Oppenheimer reduced their price target on shares of Littelfuse from $215.00 to $210.00 and set an “outperform” rating for the company in a research note on Thursday, May 2nd. Roth Capital set a $75.00 price target on shares of First Solar and gave the stock a “buy” rating in a research note on Thursday, June 13th. Finally, Cowen reaffirmed a “hold” rating on shares of PTC Therapeutics in a research note on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $60.16.

CREE stock traded up $1.02 during trading hours on Friday, hitting $63.02. The company’s stock had a trading volume of 692,019 shares, compared to its average volume of 1,659,050. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.48 and a quick ratio of 3.97. The stock has a 50 day moving average of $58.36. The stock has a market cap of $6.53 billion, a P/E ratio of -420.13, a PEG ratio of 6.51 and a beta of 0.79. Cree, Inc. has a 12 month low of $33.72 and a 12 month high of $69.21.

Cree (NASDAQ:CREE) last issued its quarterly earnings results on Wednesday, May 1st. The LED producer reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.02. Cree had a negative net margin of 18.25% and a positive return on equity of 1.59%. The firm had revenue of $274.00 million during the quarter, compared to the consensus estimate of $274.73 million. During the same period in the prior year, the firm earned $0.04 EPS. The business’s revenue was up 21.7% on a year-over-year basis. On average, analysts predict that Cree, Inc. will post 0.36 earnings per share for the current year.

In other news, Director Duy Loan T. Le bought 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was acquired at an average price of $64.46 per share, for a total transaction of $128,920.00. Following the transaction, the director now directly owns 6,442 shares of the company’s stock, valued at approximately $415,251.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.55% of the company’s stock.

About Cree

Cree, Inc provides lighting-class light emitting diode (LED), lighting, and semiconductor products for power and radio-frequency (RF) applications in the United States, China, Europe, South Korea, Japan, Malaysia, Taiwan, and internationally. It operates in three segments: Wolfspeed, LED Products, and Lighting Products.

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Institutional Ownership by Quarter for Cree (NASDAQ:CREE)

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