Tag Archives: veco

LED Stocks Hit On Needham Downgrade Of Veeco Instruments (VECO) & Rubicon Technology (RBCN), But Sector Shows Signs Of Bottom

Shares of LED stocks are under pressure this morning after Needham downgraded both Veeco Instruments (VECO) and Rubicon Technology (RBCN) due to slowing demand and over capacity.  That’s essentially the same analysis analysts have made for solar stocks which have mirrored the performance of LED stocks.  It should be noted that both green sectors are emerging from the dead and are greatly improved technically.  I mentioned solar stocks bottomed out a few weeks ago and … Read the rest

Veeco Instruments (VECO) Beats, Confident About Growth

Some LED stocks have had a rough go of late (such as CREE and the China LED stocks), but a few continue to defy gravity such as Veeco Instruments (VECO which posted another strong quarter last night.  The company posted an EPS number of $1.33 which beat the analyst estimate of $1.21 on revenues of $254.7 million which also beat the analyst estimate of $246.7 million.  That’s good for quarter over quarter growth of 217% … Read the rest

Veeco Instruments (VECO) Instruments Misses, Guides Lower, But Shares Rise

Not long ago, the expectations for LED stocks were in the stratosphere, so any earnings miss sent them reeling.  Not the case now.  With LED stocks either basing for some time or at multi month lows, an inferior earnings report won’t hurt the stock much.  Or, as is the case with Veeco today, the stock can rise.  The company missed analyst estimates (on the revenue side) this quarter AND guided lower for next quarter, but … Read the rest

Barclays Initiates Coverage Of LED Lighting Sector (CREE, VECO, AIXG), Piper Bearish On AIXG

According to Barrons Barclays initiated coverage of the LED sector yesterday with ratings on Cree Inc (CREE), Veeco Instruments (VECO) and Aixtron (AIXG) which are what I’d call the top tier LED plays. 

VECO gets the highest rating at Overweight.  They like the fact the company is now an LED pure play with growth China.

===> Click Here For Your FREE Daily VECO Technical Analysis

CREE and AIXG get Equalweight ratings.  They see limited upside … Read the rest

LED Stocks Pressured On Avian Downgrade – VECO, AIXG, CREE

According to Barrons, the top tier LED stocks which include Cree Inc (CREE), Veeco Instruments (VECO) and Aixtron (AIXG) are getting hit today after a downgrade this morning from Avian Securities.  The firm downgraded both AIXG and VECO to Neutral from Positive citing higher inventories, weaker consumer spending in China and utilization cuts at LCD makers.  These stocks are down from 6 – 9% today, VECO getting hit the hardest. For those looking to … Read the rest

Kaufman Initiates Coverage Of LED Space (CREE, VECO, AIXG)

Kaufman Bros. has initiated overage of the big 3 LED stocks this morning according to Barrons.

Cree Inc (CREE) was initiated at Hold with a $58 price target.  They see CREE as the leader and one that deserves a premium valuation, but the stock is a bit overdone to the upside.  CREE is  trading up about 1%, but remains relatively weak technically and looks like it wants to test the $50 level at some … Read the rest

Good Day For Veeco Instruments (VECO) – Citi Maintains Buy Rating, Company Announced Buyback

It was a good day for Veeco Instruments (VECO) despite the fact the stock finished down a bit.  In the morning, Citi maintained its Buy rating and $52 price target.  Hat tip to Street Insider for the analyst comment:

“Consistent with our prior commentary that the low $30’s is a key trigger point for this stock, we are increasing F2011 EPS from $4.66 to $4.85 and adding the stock to Top Picks Live, Citi’s list … Read the rest

Veeco (VECO) Sells Metrology Business To Bruker Corporation

Veeco Instruments just announced that it will be selling its metrology business, Veeco Metrology, to Bruker Corporation in order to focus on building its LED, solar and data storage businesses.

In a John R. Peeler, Veeco’s Chief Executive Officer, explained the rationale for selling Veeco Metrology:

“We believe the sale of Metrology will allow us to accelerate our progress developing new products, gaining share, and aligning with key customers in markets with large growth opportunities, … Read the rest

Veeco Instruments (VECO) Surging On News Elec-Tech Will Use For 2 LED Plants

On July 19th, I passed along the post at Notable Calls saying that UBS was expecting a big LED order for both Veeco Instruments (VECO) and Aixtron (AIXG) from Elec-Tech.  This morning, Veeco is confirming a large order from Elec-Tech  for 130 of its TurboDisc K465i Metal Organic Chemical Vapor Deposition, or MOCVD, systems as their “tool of choice” for two new LED factories in Wuhu and Yangzhou, China. I’m not sure whether this mean … 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.

===> Click Here For Your FREE Veeco Instruments Technical Analysis

“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