Deutsche Bank (DE:DBKGn) analyst Robert Sanders MBA maintained a Hold rating on Cree (NASDAQ:CREE) on Monday, setting a price target of $90, which is approximately 6.18% above the present share price of $84.76.
Sanders MBA expects Cree to post earnings per share (EPS) of -$1.28 for the third quarter of 2021.
The current consensus among 8 TipRanks analysts is for a Hold rating of shares in Cree, with an average price target of $97.
The analysts price targets range from a high of $136 to a low of $80.
In its latest earnings report, released on 06/30/2021, the company reported a quarterly revenue of $145.8 million and a net profit of -$51.5 million. The company's market cap is $9.82 billion.
According to TipRanks.com, Deutsche Bank analyst Robert Sanders MBA is currently ranked with 5 stars on a 0-5 stars ranking scale, with an average return of 33.9% and a 72.37% success rate.
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. It operates through the following segments: Wolfspeed, LED Products, and Lighting Products. The Wolfspeed segment products consists of silicon carbide (SiC) and gallium nitride (GaN) materials, power devices and RF devices based on silicon (Si) and wide bandgap semiconductor materials. The LED Products segment includes LED chips, LED components and SiC materials. The Lighting Products segment consists of LED lighting systems and bulbs for the commercial, industrial and consumer markets. The Power and RF Products segment includes power devices and RF devices. The company was founded by Calvin H. Carter Jr., John W. Palmour, F. Neal Hunter, Eric Hunter, and John Edmond in 1987 and is headquartered in Durham, NC.