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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) hit a new 52-week high Thursday as it is currently trading at $41.21, above its previous 52-week high of $41.20 with 1.3 million shares traded as of 10:36 a.m. ET. Average volume has been 1.5 million shares over the past 30 days. Cree has a market cap of $3.89 billion and is part of the technology sector and electronics industry. Shares are down 1.5% year to date as of the close of trading on Wednesday. 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 74.4, above the S&P 500 P/E ratio of 17.7.