said Thursday that it is expanding its stock buyback plan by 3 million shares.
The semiconductor materials maker will increase its stock repurchase program to cover a total of 7 million shares. The company has about 74 million shares outstanding. Yesterday,
took a deeper look at recent
corporate buyback activity.
Earlier this month, Cree
reaffirmed its third-quarter earnings projections, but pointed to a possible slowdown in the fourth quarter.
Shares of Cree, which is based in Durham, N.C., gained 16 cents, or 1.1%, to $15.32 in recent