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UBS disclosed Cree (NASDAQ:CREE), scaling down its target to $19.00 earlier today

UBS bumped down the target of Cree (NASDAQ:CREE) to $19.00 indicating a possible downside of -0.25%.

Yesterday Cree (NASDAQ:CREE) traded -10.20% lower at $25.20. The company’s 50-day moving average is $24.77 and its 200-day moving average is $25.08. The last stock close price is up -9.77% from the 200-day moving average, compared to the S&P 500 which has decreased -0.01% over the same time. 5,611,753 shares of the stock were exchanged, up from an average trading volume of 991,508

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Cree has a with a one year low of $21.50 and a one year high of $32.92 Cree’s market capitalization is currently $0.

Also covering Cree's price target, a total of 9 brokerages have issued a ratings update on CREE. The one year target is $26.28 with two equity analysts rating the company a strong buy, 3 brokers rating the stock a buy, 10 firms rating the stock a hold, 1 firm rating the stock a underperform, and finally 0 brokerages rating the stock a sell.

Brief Synopsis On Cree (NASDAQ:CREE)

Cree, Inc. is a manufacturer of lighting-class light emitting diode (LED) products, lighting products and semiconductor products for power and radio-frequency (RF) applications. The Company's products are focused for applications, such as indoor and outdoor lighting, video displays, transportation, electronic signs and signals, power supplies, inverters and wireless systems. The Company has three segments: Lighting Products, LED Products, and Power and RF Products. The Company's Lighting Products segment offers LED lighting systems and bulbs. The Company's LED Products segment offers LED components, LED chips and silicon carbide (SiC) materials. The Company's Power and RF Products segment offers power devices and RF devices. The Company designs, manufactures and markets lighting systems for indoor and outdoor applications, with a focus on LED lighting systems for the commercial, industrial and consumer markets.

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