Cray Inc (CRAY) Stake Lowered by Primecap Management Co. CA

Primecap Management Co. CA lowered its stake in Cray Inc (NASDAQ:CRAY) by 0.5% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 207,000 shares of the technology company’s stock after selling 1,000 shares during the period. Primecap Management Co. CA’s holdings in Cray were worth $4,533,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of CRAY. Wells Fargo & Company MN boosted its position in shares of Cray by 2.9% in the first quarter. Wells Fargo & Company MN now owns 1,665,706 shares of the technology company’s stock valued at $36,479,000 after buying an additional 46,512 shares in the last quarter. State of New Jersey Common Pension Fund D boosted its position in shares of Cray by 17.8% in the first quarter. State of New Jersey Common Pension Fund D now owns 1,455,000 shares of the technology company’s stock valued at $31,865,000 after buying an additional 220,000 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Cray by 3.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,386,176 shares of the technology company’s stock valued at $28,694,000 after buying an additional 43,866 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Cray by 2.1% in the first quarter. Bank of New York Mellon Corp now owns 1,295,034 shares of the technology company’s stock valued at $28,360,000 after buying an additional 27,182 shares in the last quarter. Finally, NWQ Investment Management Company LLC boosted its position in shares of Cray by 12.7% in the fourth quarter. NWQ Investment Management Company LLC now owns 1,141,672 shares of the technology company’s stock valued at $23,633,000 after buying an additional 128,507 shares in the last quarter. Institutional investors and hedge funds own 94.99% of the company’s stock.

Institutional Ownership by Quarter for Cray (NASDAQ:CRAY)

Cray Inc (NASDAQ:CRAY) traded down 0.57% during mid-day trading on Monday, hitting $17.50. The stock had a trading volume of 299,857 shares. The company has a 50 day moving average price of $18.22 and a 200-day moving average price of $19.38. The company’s market cap is $700.19 million. Cray Inc has a one year low of $16.10 and a one year high of $35.29.

Cray (NASDAQ:CRAY) last posted its earnings results on Tuesday, May 2nd. The technology company reported ($0.71) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.50) by $0.21. The business had revenue of $59.03 million for the quarter, compared to analyst estimates of $56.60 million. Cray had a negative net margin of 0.61% and a negative return on equity of 2.02%. Equities analysts expect that Cray Inc will post ($1.09) earnings per share for the current fiscal year.

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CRAY has been the topic of several recent research reports. Needham & Company LLC restated a “buy” rating and set a $23.00 target price (down from $25.00) on shares of Cray in a report on Wednesday, May 3rd. TheStreet upgraded Cray from a “d+” rating to a “c-” rating in a report on Friday, February 17th. ValuEngine raised Cray from a “strong sell” rating to a “sell” rating in a research report on Friday, June 2nd. Finally, Zacks Investment Research lowered Cray from a “hold” rating to a “sell” rating in a research report on Tuesday, May 9th. Two investment analysts have rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $32.25.

In related news, Director Stephen C. Kiely sold 2,000 shares of Cray stock in a transaction on Tuesday, May 9th. The shares were sold at an average price of $18.55, for a total transaction of $37,100.00. Following the transaction, the director now owns 20,675 shares in the company, valued at approximately $383,521.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 4.00% of the company’s stock.

Cray Company Profile

Cray Inc is engaged in designing, developing, manufacturing, marketing and servicing the high performance computing (HPC) market, primarily categories of systems known as supercomputers. The Company’s segments include Supercomputing, Storage and Data Management, Maintenance and Support, and Engineering Services and Other.

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