Needham & Company LLC reiterated their buy rating on shares of Cray Inc (NASDAQ:CRAY) in a research report released on Thursday morning. Needham & Company LLC currently has a $25.00 target price on the stock.
Other equities research analysts also recently issued reports about the stock. Stifel Nicolaus restated a buy rating and set a $30.00 price objective (down from $40.00) on shares of Cray in a research report on Monday, November 7th. Zacks Investment Research upgraded shares of Cray from a strong sell rating to a hold rating in a research report on Tuesday, January 10th. Finally, TheStreet downgraded shares of Cray from a hold rating to a sell rating in a research report on Wednesday, November 9th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. Cray currently has an average rating of Buy and an average price target of $35.67.
Shares of Cray (NASDAQ:CRAY) opened at 21.50 on Thursday. The firm has a market cap of $859.42 million, a PE ratio of 82.69 and a beta of 1.25. Cray has a 52-week low of $16.10 and a 52-week high of $43.79. The company’s 50-day moving average price is $18.72 and its 200-day moving average price is $21.02.
Cray (NASDAQ:CRAY) last issued its earnings results on Wednesday, February 8th. The company reported $1.38 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.24 by $0.14. Cray had a net margin of 1.69% and a return on equity of 2.64%. The business earned $346.60 million during the quarter, compared to the consensus estimate of $346.79 million. During the same period last year, the business posted $0.79 EPS. Cray’s revenue was up 29.6% on a year-over-year basis. Equities analysts expect that Cray will post ($0.14) earnings per share for the current fiscal year.
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Several large investors have recently added to or reduced their stakes in the stock. First Interstate Bank increased its stake in Cray by 15.5% in the fourth quarter. First Interstate Bank now owns 5,155 shares of the company’s stock worth $107,000 after buying an additional 690 shares during the last quarter. Teacher Retirement System of Texas boosted its position in shares of Cray by 13.7% in the second quarter. Teacher Retirement System of Texas now owns 5,699 shares of the company’s stock worth $171,000 after buying an additional 686 shares during the period. Municipal Employees Retirement System of Michigan boosted its position in shares of Cray by 1.7% in the third quarter. Municipal Employees Retirement System of Michigan now owns 9,050 shares of the company’s stock worth $213,000 after buying an additional 150 shares during the period. Massmutual Trust Co. FSB ADV purchased a new position in shares of Cray during the fourth quarter worth about $207,000. Finally, US Bancorp DE boosted its position in shares of Cray by 3.6% in the third quarter. US Bancorp DE now owns 12,016 shares of the company’s stock worth $283,000 after buying an additional 420 shares during the period. Institutional investors own 86.32% of the company’s stock.
Cray Company Profile
Cray Inc designs, develops, manufactures, markets and services the high-end of the high performance computing (HPC) market, primarily categories of systems, known as supercomputers and provides storage and data analytics solutions. The Company provides software, system maintenance, support services and engineering services related to supercomputer systems.
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