U.S. Markets open in 2 hrs 42 mins

Earnings Estimates Moving Higher for Cree (CREE): Time to Buy?

Zacks Equity Research

Cree, Inc. CREE is an innovator of wide bandgap semiconductor products that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on CREE’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Cree could be a solid choice for investors.

Current Quarter Estimates for CREE

In the past 30 days, four estimates have gone higher for Cree while one have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 14 cents a share 30 days ago, to 16 cents today, a move of 14.3%.

Current Year Estimates for CREE

Meanwhile, Cree’s current year figures are also looking quite promising, with six estimates moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, increasing from 73 cents per share 30 days ago to 78 cents per share today, an increase of 6.8%.

Cree, Inc. Price and Consensus

Cree, Inc. Price and Consensus | Cree, Inc. Quote

Bottom Line

The stock has also started to move higher lately, adding 21% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So, investors may want to consider this Zacks Rank #1 (Strong Buy) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank stocks here.

Will You Make a Fortune on the Shift to Electric Cars?

 Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.

With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
It's not the one you think.

See This Ticker Free >>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Cree, Inc. (CREE) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research