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Cree, Inc. (CREE) Surges: Stock Moves 9.7% Higher

Zacks Equity Research
Updated

Cree, Inc. CREE 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.

Cree, Inc. Price

Cree, Inc. Price | Cree, Inc. Quote

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A better-ranked stock in the Semiconductor - Discretes industry is Tokyo Electron Limited TOELY, 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

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Zacks Investment Research