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Semiconductor company


(CREE) - Get Cree, Inc. Report

rose 15% this week after the company raised its fourth-quarter revenue targets on stronger demand for LED products. Cree now expects sequential revenue growth of 8% to 11%, up from previous guidance of 5%. The company also sees revenue in the first fiscal quarter up 5% from its fourth-quarter results. Cree added that it would take $17 million in charges relating to writedowns of unrealized losses from investments.

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