Emerging LED lighting play Energy Focus (EFOI) reported earnings after the bell today and continued to narrow its losses, reporting an EPS loss of ($0.08) vs the year ago loss of ($0.16). Revenues continue to improve as well, although much of that (55%) is due to the acquisition of Stone Rive Companies so not really comparing apples to apples here. The company reported revenue of $9 million in the quarter, vs $3.3 million in the … Read the rest
Category Archives: LED Lighting
UBS Downgraded Cree Inc (CREE) From Buy To Neutral
UBS downgraded Cree, Inc. (CREE) from Buy to Neutral and cut the price target from $83 to $64. Hat tip to Street Insider for the analyst notes.
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UBS analyst’s highlighted points include: 1) Near term concern from demand air-pocket in consumer electronics LEDs; 2) But general lighting LED opportunity still showing signs of strong growth; and 3) Lowering estimates to account for less spot market sales … Read the rest
Aixtron AG (AIXG) Announces Order For LED Manufacturing Tools From Yangzhou Longyao
According to Street Insider, Aixtron AG (AIXG) has announced a substantial multiple order for additional MOCVD tools from Yangzhou Longyao, a LED manufacturing company in Yangzhou, China which is a subsidiary of Rainbow Optoelectronics Material Shanghai Co. Ltd., China, a long time customer of AIXTRON MOCVD equipment. Details are vague and no word on the financials of the deal.
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Dr. Alan Li, General Manager of … Read the rest
Piper Jaffray, Cantor Fitzgerald Remain Bullish On Cree Inc (CREE)
At least two analysts remain bullish on Cree Inc (CREE) following their earnings results last night. Hat tip to Street Insider for the analyst comments.
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Piper Jaffray reiterates an Overweight rating and $88 price target.
“Although initial investor reaction is one of disappointment that Cree’s Sept ’10 revenue guidance ($270-$280m) was below consensus of $284m, we remain encouraged that its core lighting business will continue double … Read the rest
Cree Inc (CREE) Reports Strong Quarter, Mixed Guidance, Shares Down 10%
Cree, Inc. (CREE) reported results after the bell today that were a touch better than analyst estimates. The EPS came in at .55 vs the analyst estimate of .51 on revenues of $265 million vs the analyst estimate of $264 million. While those are record numbers and represent growth both sequentially and quarter over quarter, traders always want to what guidance will be especially when a stock is run so far so fast. I’ve said … Read the rest
Canaccord Genuity Downgrades Veeco Instruments (VECO), Slashes PT
Canaccord Genuity downgraded Veeco Instruments (VECO) earlier today from Buy to Hold and slashed the price target from $58 to $39. Hat tip to Street Insider for the analyst comment.
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“We are downgrading VECO shares as we project a cyclical digestion period and pause in earnings power in the coming years following the current capacity build-out for LCD TV backlighting…We are modeling 347 MOCVD shipments … Read the rest
Orion Energy Systems (OESX) Reports Mixed Results, Reaffirms Guidance
Orion Energy Systems (OESX) reported results after the bell today that were mixed. While they beat analyst estimates on the revenue side posting $18.8 million vs the estimate of $17.58 million, the EPS loss of .05 was greater than the estimate of a .04 loss. Sequentially, revenues were about inline with what they posted last quarter, but the EPS loss was greater than the .01 EPS loss of last quarter. Quarter over quarter, revenues jumped … Read the rest
Rubicon Technology (RBCN) Beats, Guides Higher & Announces $71 Million Contract
The good news is flowin for Rubicon Technology (RBCN) after the bell today, but traders aren’t impressed enough to continue to send the stock into the stratosphere l.. at least in the early going. The stock is down a few percent as I write this. The company beat analyst estimates by reporting a Q2 EPS of $0.18, vs the estimate of $0.14 on revenues of $15.8 million vs the estimate of $14.50 million. Sequentially, that’s … Read the rest
GT Solar (SOLR) Adds LED Manufacturing With Purchase Of Crystal Systems
GT Solar (SOLR) has made a very interesting move this morning. The company is diversifying its manufacturing operations and adding LED manufacturing to its solar ingot manufacturing business. Smart move. They purchased privately held Crystal Systems of Salem, MA which manufacturers large area sapphire substrates used in LED lighting, defense, medical and aerospace industries.
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GT Solar is paying $24 million in cash, 5.4 million shares … Read the rest
Profit Explosion At Veeco Instruments (VECO), Beats By .18
What a quarter out of Veeco Instruments (VECO)! LED lighting demand remains on fire with the company smashing analyst estimates by .18/share after the bell today. The EPS number was more than double sequentially and an exponential jump over the year ago quarter when the company posted a loss of .15/share. Revenues were equally as impressive, jumping more than 50% sequentially and more than tripling over the year ago quarter.
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