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Strength Seen in Cree (CREE) Stock Adds 10.6% in Session
Cree, Inc. was a big mover last session, as the company saw its shares rise nearly 11% on the day. The company announced the $850 million sale of its power and RF (radio-frequency) division to Infineon Technologies. The news led to far more shares changing hands than in a normal session resulting in solid volume. This continues the recent uptrend for the company since Jun 27, as the stock is now up over 17%.
None of the estimates for this stock were revised over the past 30 days. The Zacks Consensus Estimate also remained unchanged over the same time frame. Yesterday’s price action is encouraging though, so make sure to keep a close watch on this firm in the near future.
Cree currently carries a Zacks Rank #3 (Hold), while its Earnings ESP is 0.00%.
CREE INC Price
CREE INC Price | CREE INC Quote
A better-ranked stock in the same industry is Tokyo Electron Limited (TOELY - Free Report) , sporting a Zacks Rank #1 (Strong Buy).
Is CREE going up? Or down? Predict to see what others think: Up or Down
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