Cree Stock Hits New 52-Week High (CREE)

NEW YORK ( TheStreet) -- Cree (Nasdaq: CREE) hit a new 52-week high Tuesday as it is currently trading at $67.16, above its previous 52-week high of $66.78 with one million shares traded as of 10:26 a.m. ET. Average volume has been 2.3 million shares over the past 30 days.

Cree has a market cap of $7.53 billion and is part of the technology sector and electronics industry. Shares are up 87.8% year to date as of the close of trading on Monday.

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 105.9, above the S&P 500 P/E ratio of 17.7.

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TheStreet Ratings rates Cree as a buy. 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, compelling growth in net income, expanding profit margins and solid stock price performance. We feel these strengths outweigh the fact that the company shows weak operating cash flow. You can view the full Cree Ratings Report.

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