Cree (CREE) has risen sharply, recording gains of 9.06% in the past 4 weeks. However, the stock has corrected -2.34% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 6.41% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
Cree (NASDAQ:CREE): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $27.50 and $27.46 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $28.21. The buying momentum continued till the end and the stock did not give up its gains. It closed at $27.93, notching a gain of 2.20% for the day. The total traded volume was 780,373 . The stock had closed at $27.33 on the previous day.
The stock has recorded a 20-day Moving Average of 0.99% and the 50-Day Moving Average is 8.72%. Cree, Inc. is up 20.18% in the last 3-month period. Year-to-Date the stock performance stands at 4.72%.
Cree (CREE) : 6 investment research analysts covering Cree (CREE) have an average price target of $27.67 for the near short term. The highest target price given by the Brokerage Firm to the stock is $31 and the lowest target is $24 for the short term. Analysts expect the variance to be within $3.01 of the average price.
Cree, Inc. is a manufacturer of lighting-class light emitting diode (LED) products, lighting products and semiconductor products for power and radio-frequency (RF) applications. The Companys products are focused for applications, such as indoor and outdoor lighting, video displays, transportation, electronic signs and signals, power supplies, inverters and wireless systems. The Company has three segments: Lighting Products, LED Products, and Power and RF Products. The Companys Lighting Products segment offers LED lighting systems and bulbs. The Companys LED Products segment offers LED components, LED chips and silicon carbide (SiC) materials. The Companys Power and RF Products segment offers power devices and RF devices. The Company designs, manufactures and markets lighting systems for indoor and outdoor applications, with a focus on LED lighting systems for the commercial, industrial and consumer markets.