Cree (NASDAQ:CREE) had its target price lowered by Canaccord Genuity from $28.00 to $21.00in a report published onWednesday morning, Analyst Ratings Net reports. The brokerage currently has a hold rating on the LED producer’s stock.

In other Cree news, EVP Norbert Hiller acquired 5,000 shares of the company’s stock in atransaction on Friday, June 5th. The shares were bought at an average cost of $30.14 per share, with a total value of $150,700.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John B. Replogle acquired 1,166 shares of the company’s stock in a transaction on Tuesday, June 2nd. The stock was acquired at an average cost of $30.41 per share, for a total transaction of $35,458.06. The disclosure for this purchase can be found here.

A number of other equities analysts have also weighed in on CREE. Deutsche Bank restated a hold rating and set a $29.00 price target on shares of Cree in a research note on Tuesday, August 11th. Oppenheimer reiterated a hold rating on shares of Cree in a research note on Thursday, June 25th. Cowen and Company restated a market perform rating and issued a $25.00 price target (down from $27.50) on shares of Cree in a research note on Friday, June 26th. Raymond James reaffirmed an underperform rating on shares of Cree in a report on Friday, June 26th. Finally, Piper Jaffray restated a neutral rating and set a $28.00 price target on shares of Cree in a report on Tuesday, August 11th. Four investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have given a buy rating to the company. The company has an average rating of Hold and an average price target of $34.96.

Shares of Cree (NASDAQ:CREE) traded up 0.22% during midday trading on Wednesday, hitting $27.00. 1,494,088 shares of the stock were exchanged. Cree has a 52-week low of $23.36 and a 52-week high of $45.98. The firm’s 50 day moving average price is $25.33 and its 200-day moving average price is $31.93. The stock’s market cap is $2.88 billion.

Cree (NASDAQ:CREE) last issued its earnings results on Tuesday, August 11th. The LED producer reported ($0.19) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.03) by $0.16. During the same period last year, the business posted $0.42 earnings per share. The business earned $382.20 million during the quarter, compared to analyst estimates of $378.92 million. The business’s revenue was down 12.4% compared to the same quarter last year. On average, equities research analysts expect that Cree will post $1.10 earnings per share for the current fiscal year.

Cree, Inc. is a producer of lighting-class light emitting diode (NASDAQ:CREE) products, lighting products and semiconductor products for power and radio-frequency (RF) programs. The Business ‘s products are targeted for applications for example video screens, outdoor and indoor lighting, transportation, electronic signs and signals, power supplies, inverters and wireless systems. The three segments of the Company’s are Lighting Products, LED Products, and Power and RF Products. The Company’s LED products consist of LED components, LED chips and silicon carbide (SiC) stuff. The Light Products of the Company’s consist of LED lighting systems and lightbulbs. The Business’s power products are manufactured from SiC. The Organization ‘s RF devices are manufactured from gallium nitride (GaN).