- Zacks•8 days ago
Infineon Technologies AG (IFNNY) recently inked a definitive agreement with premium manufacturer and marketer of lighting-class LEDs, Cree Inc. (CREE) to acquire its Wolfspeed Power and RF division.
- Barrons.com•10 days ago
Cree (CREE) ended lower on Friday, a day after it soared on news that it agreed to sell its Wolfspeed unit to Infineon Technologies (IFNNY) for $850 million. A few analysts weighed in on the sale—as well as Cree’s upbeat guidance—on Thursday, and most are still cautious on the stock, but see the developments as positive. Canaccord’s Jed Dorsheimer reiterated a Hold rating but upped his price target by $5, to $24: Cree's sale of its Wolfspeed Power & RF segment and preliminary revenue results are certainly much needed incremental positive steps, which investors should appreciate.
After hours: 28.740.00 (0.00%) as of 4:34 PM EDT
|Bid||28.50 x 300|
|Ask||28.99 x 300|
|52wk Range||22.10 - 32.92|
|Day's Range||28.46 - 28.82|
|Avg Vol (3m)||1,085,384|
As of 4:00 PM EDT. Market closed.