Cree, Inc. was a big mover last session, as the company saw its shares rise more than 9% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This continues the recent uptrend for the company—as the stock is now up 28% in the past one-month time frame.

The move came after the company bought assets of Infineon Technologies AG Radio Frequency Power Business worth nearly €345 million. The deal extends the company’s Wolfspeed business division’s wireless market potential.

The company has not seen any estimate revisions over the past one month, while the Zacks Consensus Estimate for the current quarter also remained unchanged. The recent price action is encouraging though, so make sure to keep a close watch on this firm in the near future.

Cree, Inc. currently has a Zacks Rank #4 (Sell), while its Earnings ESP is positive.

A better-ranked stock in the Semiconductor - Discretes industry is Tokyo Electron Limited (TOELY Quick QuoteTOELY - Free Report) , which currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Is CREE going up? Or down? Predict to see what others think: Up or Down

Breaking News: Cryptocurrencies Now Bigger than Visa

The total market cap of all cryptos recently surpassed $700 billion – more than a 3,800% increase in the previous 12 months. They’re now bigger than Morgan Stanley, Goldman Sachs and even Visa! The new asset class may expand even more rapidly in 2018 as new investors continue pouring in and Wall Street becomes increasingly involved.

Zacks’ has just named 4 companies that enable investors to take advantage of the explosive growth of cryptocurrencies via the stock market.

Click here to access these stocks. >>