I think looking at forward PE makes more sense. Let's not mislead here with the last year which is an anomaly
Sentiment: Strong Buy
More like $65
Look at their income statement, I couldn't believe it but it's true.
Interesting thing is that CREE constantly invests in R&D while companies like AYI invest in sales/marketing. AYI has $0 in R&D. Companies like AYI will be dependent on CREE for a long time because they will need the technology.
Let them sit on the sideline and buy at higher prices. Grasp that!