Cree (CREE) Shares are Up 3%

Cree (CREE) : Traders are bullish on Cree (CREE) as it has outperformed the S&P 500 by a wide margin of 4.9% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 2.83%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 3% in the last 1 week, and is up 4.34% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.

The stock has recorded a 20-day Moving Average of 4.59% and the 50-Day Moving Average is 0.24%.The 200 Day SMA reached 2.12%

Cree

Cree (NASDAQ:CREE): After opening at $25.49, the stock dipped to an intraday low of $25.31 on Friday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $25.83 and the buying power remained strong till the end. The stock closed at $25.72 for the day, a gain of 1.54% for the day session. The total traded volume was 962,005. The stocks close on the previous trading day was $25.72.

Cree (CREE) : Average target price received by Cree (CREE) is $28 with an expected standard deviation of $4.05. The most aggressive target on the stock is $34, whereas the most downbeat target is $23. 6 financial analysts are currently covering the stock.

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.

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