So why the differing analysts? Cramer explained that while both firms did channel checks to see how Cree's products were selling, the bulls spoke with Home Depot (HD), where Cree derives a third of its sales, while the bears spoke with agents representing everyone else.
At Home Depot, Cree's products were sold out, but at other locations, competitor Phillips has been making retailers choose between Cree and themselves, with Phillips being the dominant player in the space.
Cramer said while Phillips may impact upon earnings in the short term, longer term he likes the company. That said, Cree now trades at 33 times earnings with a 16.5% growth rate, meaning its too expensive to recommend at current levels. On a pullback however, Cramer said he remains a fan.
In the Lightning Round, Cramer was bullish on Protein Design Labs (PDLI), Ford Motor (F), Berkshire Hathaway (BRK.B), Skyworks Solutions (SWKS), Sunpower (SPWR), First Solar (FSLR), Marathon Petroleum (MPC) and TravelCenters of America (TA).Cramer was bearish on Armour Residential (ARR) and 3D Systems (DDD). To watch replays of Cramer's video segments, visit the Mad Money page on CNBC. -- Written by Scott Rutt in Washington, D.C. To email Scott about this article, click here: Scott Rutt Follow Scott on Twitter @ScottRutt or get updates on Facebook, ScottRuttDC