A repurchase limits supply and RAISES price, not lowers it. Unless your company suks, then the price goes down any way. See this for the stock performance, dismal.
https://www.google.com/search?sourceid=chrome-psyapi2&rlz=1C1GIGM_enUS572US572&ion=1&espv=2&ie=UTF-8&q=cree%20stock%20price
$70...