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
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.
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Cree, Inc. (CREE) : Free Stock Analysis Report
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