Fintel reports that BlackRock has filed a 13G/A form with the SEC disclosing ownership of 18.29MM shares of Cree, Inc. (CREE). This represents 14.7% of the company.
In their previous filing dated March 11, 2022 they reported 14.99MM shares and 12.90% of the company, an increase in shares of 21.95% and an increase in total ownership of 1.80% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 27.98% Upside
As of February 7, 2023, the average one-year price target for Cree is $102.47. The forecasts range from a low of $70.70 to a high of $157.50. The average price target represents an increase of 27.98% from its latest reported closing price of $80.07.
Fund Sentiment
There are 991 funds or institutions reporting positions in Cree. This is an increase of 108 owner(s) or 12.23%.
Average portfolio weight of all funds dedicated to US:CREE is 0.3793%, an increase of 20.2809%. Total shares owned by institutions increased in the last three months by 1.25% to 168,661K shares.
What are large shareholders doing?
Capital Research Global Investors holds 13,628,117 shares
Capital International Investors holds 10,330,706 shares
AGTHX - GROWTH FUND OF AMERICA holds 7,390,799 shares
Clearbridge Investments holds 6,084,324 shares
Jpmorgan Chase & holds 5,050,803 shares
Cree Background Information
(This description is provided by the company.)
Cree is an innovator of Wolfspeed® power and radio frequency (RF) semiconductors and lighting class LEDs. Cree's Wolfspeed product families include silicon carbide materials, power-switching devices and RF devices targeted for applications such as electric vehicles, fast charging inverters, power supplies, telecom and military and aerospace. Cree's LED product families include blue and green LED chips, high-brightness LEDs and lighting-class power LEDs targeted for indoor and outdoor lighting, video displays, transportation and specialty lighting applications.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
