2. As of noon trading, Cree ( CREE) is down $0.71 (-1.2%) to $58.89 on average volume Thus far, 1.1 million shares of Cree exchanged hands as compared to its average daily volume of 2.5 million shares. The stock has ranged in price between $58.31-$59.77 after having opened the day at $59.50 as compared to the previous trading day's close of $59.60. Cree, Inc. develops and manufactures lighting-class light emitting diode (LED) products, lighting products, and semiconductor products for power and radio-frequency (RF) applications. Cree has a market cap of $6.8 billion and is part of the technology sector. The company has a P/E ratio of 98.5, above the S&P 500 P/E ratio of 17.7. Shares are up 71.1% year to date as of the close of trading on Monday. 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 compelling growth in net income. However, as a counter to these strengths, we find that we feel that the company's cash flow from its operations has been weak overall. Get the full Cree Ratings Report now. Exclusive Offer: Jim Cramer's 'go-to' small/mid-cap guru Bryan Ashenberg only buys stocks he thinks could return 50-100%. See his top picks for 14-days FREE.