Is Cree Inc (NASDAQ:CREE) The Best LED Manufacturer?

Posted by Ryan Mandell October 2, 2013 0 Comment 2269 views

October 1 was an exceptionally profitable day for Cree, Inc (NASDAQ:CREE). The stock has risen by almost 16.00% and its average daily volume is also well on its way to increasing 4 times over. Canaccord Genuity Upgrades upgraded the company to a “buy” from its earlier “hold” rating and set a PT of $80.00 on the company shares.

Jonathan Dorsheimer, the analyst said that though there are numerous other LED manufacturers and low tier suppliers in Asia, Cree, Inc (NASDAQ:CREE) has been the center of analyst discussions lately. He said that despite stiff competition, the company is the proven frontrunner in the SSL field and is a truly ready to lead the revolution.

Tuesday’s trading session

In Tuesday’s trading, Cree, Inc (NASDAQ:CREE) rose 15.90%. The shares opened at a price of $62.81, climbed to an intraday high of $70.09 and dipped to a close of $69.76. Approximately 11.01 million shares were traded on Tuesday while an average volume of 1.86 million shares were traded over a 30 day period. The 52-week low of the company’s shares is $24.50 and its 52-week high is $76.00. The company has a market capitalization of $8.38 billion.

About the company

Cree, Inc (NASDAQ:CREE) is engaged in developing and manufacturing semiconductor materials & devices that are mainly based on silicon-carbide (SiC), gallium-nitride (GaN) and other related compounds. It is focused on SiC and the GaN on-light emitting diode products. It is involved in developing lighting-class LED products, lighting-products and semi-conductor products for radio-frequency (RF) and power applications. Its lighting products are made up of LED as well as traditional lighting-systems.

Cree, Inc (NASDAQ:CREE) is involved in designing, manufacturing and selling lighting systems that are used in outdoor and indoor applications. The company’s main focus is on LED lighting-systems that are used in industrial and commercial markets.

About Ryan Mandell

Ryan Mandell is our senior staff writer covering the White House for Political Report, Ryan also coordinates with the main newsroom news items and contributing write-ups on cultural, social and political activities. Ryan holds an undergraduate degree in journalism, a Doctorate in international relations and a Master Degree in mass communications with an emphasis in print journalism. Ryan also covered the International Society of Social Defense congress in Spain in 2007 and taken part in the Global Forum on economic policies

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