I had this written this up ahead of the bell this morning and forgot to hit publish! These things happen on Monday mornings.. Anyway, Citi reiterated its Buy rating on Veeco Instruments (VECO) and its $53 price target this morning. Hat tip to Street Insider for the analyst comment.
“Increasing estimates” F2010 EPS from $3.56 to $3.84 (Street $3.58), F2011 from $3.26 to $4.11 (Street $3.78) and F2012 from $1.69 to $3.39 as our prior … Read the rest
Veeco Instruments (VECO) has shipped several TurboDisc MOCVD systems to US based LED manufacturer Invenlux in order to ramp capacity at their China LED factory in Haiyan City. No word on the financials of the deal.
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“Invenlux has a history of producing reliable and efficient blue and green LEDs for LCD backlighting, traffic lights, full color displays, and general illumination,” commented Chris Yan, Ph.D., Chief … Read the rest
The Broward Center for the Performing Arts in Ft Lauderdale, FL has replaced all incandescent lighting with more energy efficient LED lighting using Nexxus Lighting Array LED lamps according to a press release today. Array LED lamps are fully dimmable on most incandescent dimmer switches and provide up to 80% energy savings.
====> Click Here For Your FREE Nexxus Lighting Technical Analysis
“We’ve swapped incandescent bulbs for Array LED lamps in locations throughout our facility … Read the rest
Applied Materials (AMAT) is making a significant shift in its green energy strategy, abandoning its thin film solar business and focusing more on traditional solar technologies as well as LED. The thin film solar business has never really gotten off the ground as evidenced by the languishing stock price of Energy Conversion Devices (ENER). I don’t think it’s time to call the technology dead in the water, but when a company like Applied Materials decides … Read the rest
Merriman Curhan Ford is out this morning maintaining its Neutral rating on Cree Inc (CREE). Hat tip to Street Insider for the analyst comment:
===> Click Here For Your FREE Cree Analysis
“We expect Cree to report June quarter upside when it reports F4Q10 earnings on August 10. While strong end market general lighting demand will likely drive revenue upside, we believe its near-peak 48% gross margin levels are unlikely to be sustainable with increasing … Read the rest
According to Notable Calls, UBS is expecting a big order for both Veeco Instruments (VECO) and Aixtron (AIXG) from Chinese LED manufacturer Elec-Tech based on discussions with industry contacts. It looks like from the post that the orders would be placed this quarter, but not ship and be recognized as revenue until sometime next year. Still just a rumor at this point, but great news if true. UBS reiterates its Buy rating on both … Read the rest
Arima Optoelectronics, an LED manufacturer in Taiwan, purchased several Metal Organic Chemical Vapor Deposition (MOCVD) Systems last quarter according to a press release this morning. The two companies have worked together in the past and this expands their relationship. No word on the financials of this deal.
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Marco Kuo, President of Arima Optoelectronics, said, “We have selected Veeco’s MOCVD systems because of our experience with their … Read the rest
Piper Jaffray was out with some rating changes/coverage of LED lighting stocks after the bell today. Hat tip to Street Insider for the following analyst comments….
Initiated Cree Inc (CREE) at Overweight with $88 price target. They believe Cree is the leading LED play and that the recent pull back offers an attractive entry point. To that I say it’s up 20% in two weeks.. would have been an attractive entry point at the beginning … Read the rest
Cree Inc just announced that it has signed an LED patent cross-license agreement with Koninklijke Philips Electronics NV.
The agreement is worldwide and covers a range of LED technologies including blue LED chip technology, white LEDs and phosphors. It also covers associated technologies such as control systems, LED luminaires and lamps, and LED backlighting for LCD screens.
In a press release, Chuck Swoboda, Cree chairman and CEO, commented on the agreement:
“This agreement demonstrates … Read the rest
GE Lighting just announced that it has signed an licensing agreement with Rambus Inc. to use Rambus’ LED product designs and manufacturing knowledge to develop a flat-panel LED lighting system that can be used in architectural and commercial lighting.
===> Click Here For Your FREE GE Analysis
===> Click Here For Your FREE Rambus Analysis
In a press release, Michael B. Petras, Jr., president and CEO of GE Lighting, commented on the news:
“One … Read the rest