Cree Stock Falls On Unusually High Volume (CREE)

Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model.

NEW YORK ( TheStreet) -- Cree (Nasdaq: CREE) is trading at unusually high volume Monday with 3.2 million shares changing hands. It is currently at two times its average daily volume and trading down $2.70 (-7.9%) at $31.66 as of 3:41 p.m. ET.

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Cree has a market cap of $4.02 billion and is part of the technology sector and electronics industry. Shares are up 1.7% year to date as of the close of trading on Friday.

Cree, Inc. develops and manufactures lighting-class light emitting diode (LED) products, lighting products, and semiconductor products for power and radio-frequency (RF) applications. The company has a P/E ratio of 82.3, above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Cree as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and increase in net income. However, as a counter to these strengths, we find that the company's return on equity has been disappointing. You can view the full Cree Ratings Report.

See all heavy volume stocks in our stocks moving on unusual volume list or get investment ideas from our investment research center.

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