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Technology Stocks : Wolf speed -- Ignore unavailable to you. Want to Upgrade?

To: straight life who wrote (5448)	7/3/2001 10:52:13 AM
From: Ron	Read Replies (1) \| Respond to of 10714

ARLINGTON, Va., July 2 /PRNewswire/ -- Friedman, Billings, Ramsey & Co., Inc., a subsidiary of Friedman, Billings, Ramsey Group, Inc. (NYSE: FBR), today initiated coverage of Cree, Inc. (Nasdaq: CREE), and Uniroyal Technology Corporation (Nasdaq: UTCI). FBR initiated coverage of Cree, Inc., with an "Accumulate" rating. In a 47-page report, Vice President and Equity Research Analyst Chris Versace identified Cree as the dominant player in the silicon carbide compound semiconductor market. The company's products include blue and green LEDs, RF power transistors for use in wireless infrastructure applications, and SiC wafers sold for use in research and development. "Cree is a leading supplier of LED die and the world leader -- by a wide margin -- in the SiC market," Mr. Versace said. "With roughly a 34% share of the worldwide LED market and a recent product introduction that should open up new applications and new design wins coming online in the first half of fiscal year 2002, we believe Cree is well-positioned as the LED market continues to expand," he said. "Cree's strategy is leveraging its enabling materials technology in order to develop low-cost silicon carbide materials and device technology for use in other enabling products and systems," Mr. Versace added. FBR also initiated coverage of Uniroyal Technology Corp. with a "Market Perform" rating. In a 30-page report, Mr. Versace identified Uniroyal Technology as an evolving company transitioning from an industrial based one to a high technology company focused on compound semiconductors and optoelectronics. Uniroyal Optoelectronics manufactures high-brightness, light-emitting diodes (HB-LEDs), a rapidly growing market with applications such as traffic signals, indoor/outdoor signage, and automotive applications. "Long-term, we think the transformation to a technology company will open up significantly betterprospects for growth compared to the possibilities that it would encounter in its legacy businesses," Mr. Versace said. "As with any sweeping business change, however, there are a number of business risks involved that will restrain the valuation accorded to the shares in the near term." Please read the full reports at fbr.com . Some nice volume and buying action today on CREE.