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To: Exacctnt who wrote (5223)	3/22/2001 10:25:40 AM
From: Exacctnt	Respond to of 10714

09:16 ET ****** Cree, Inc. (CREE) 15.15: The company formerly known as Cree Research (and now known as Cree, Inc.) has announced it's expanding the share repurchase program initiated two months ago. While CREE couldn't pass up its own shares in the mid-30's when the buyback was announced, apparently they've become a complete steal now that they trade in the mid-teens! All kidding aside, Briefing.com tends to agree with CREE... the time is right to begin accumulation near current levels. Very quickly, CREE may have made the material that generates the dashboard display in your car. If not, they might have made the material that generates your cell phone display. Or it's possible absolutely nothing you own has been manufactured by the semiconductor company. Regardless, CREE's primary revenue stream is derived from selling blue and green light-emitting diodes (LED's) manufactured from silicon carbide (SiC). While it doesn't sound all that interesting, CREE has an extremely solid market position as they have patents on many of their processes for SiC compounds. So why did CREE decide to authorize repurchase of another 3 million shares of their stock this morning? Fundamentals... The shares currently trade at 24.4x trailing-twelve-month earnings. This matches the five-year low on CREE's P/E multiple. In fact, the five-year bands range from a low of 24.3x to a high of 233.6x which means current prices match the best prices this stock has seen in five years. With a 5-year growth rate of 25% CREE's Price/Earnings to Growth Rate factors out to a very attractive 0.97x. For the longer-term investor, Briefing.com agrees with CREE that current prices represent a solid value. -- Michael Ashbaugh, Briefing.com