Veeco Instruments Inc.NASDAQ
Veeco Instruments: The Catalyst May Have Arrived
Hanging In With Veeco Instruments
Wed, Sep. 7, 11:08 AM
- The China government will prohibit imports and sale of 15W to below 60W incandescent light bulb from October 1, 2016, leading to a complete end to use of such lighting products, DigiTimes reports.
- The prohibition is expected to boost demand for LED light bulbs, sources noted. In particular, LED filament light bulbs will replace 15-30W incandescent bulbs.
- Related tickers: (CREE +2.8%), (PHG), (RBCN +3.3%), (LEDS -1.4%), (VECO +0.3%), (AIXG +0.7%)
Tue, Aug. 2, 3:02 PM
Mon, Aug. 1, 4:07 PM
Sun, Jul. 31, 5:35 PM
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Tue, Jul. 19, 3:39 AM
- Scientists reveal method for storing rewritable digital data at record density.
- Involves rearranging individual chlorine atoms on a sheet of copper.
- Provides roughly 100x more data per square inch than the world's most efficient hard drive.
- Could write the entire contents of the Library of Congress in a space smaller than a dust mite.
- Key challenge is speed.
- Source links: Nature, Popular Mechanics
- Also see Richard Feynman's There's Plenty of Room at the Bottom lecture
- Disk drive stocks: OTCPK:CBEX, EMC, HILL, HTCH, IBM, IMN, IVAC, NTAP, QBAK, SXCL, SMIT, STX, VECO, WDC
Mon, May 23, 12:36 PM
- A fund known as Grand Chip Investment is acquiring Aixtron (AIXG +13.1%) for €6.00/share ($6.72/share), or €670M ($750M) after factoring net cash. The price represents a 23% premium to Aixtron's Friday close, and a 48% premium to where shares traded before Bloomberg first reported of Aixtron's sale efforts on March 31.
- The all-cash offer requires the support of shareholders owning 60% of Aixtron's shares. Though up strongly today, Aixtron still trades 8% below its buyout price, perhaps due to concerns about regulatory scrutiny.
- Aixtron popped on Friday after Bloomberg reported a €5.50/share could be close. Rival Veeco (VECO +1.6%) is up 7% over the last two trading days.
Fri, May 20, 12:38 PM
- Bloomberg reports Aixtron (AIXG +9.6%) is talking with Chinese firms about a potential sale. The report follows one on March 31 stating the German LED/chip equipment maker is holding informal sale talks and working with JPMorgan to explore options.
- Aixtron is posting big gains, but it's worth noting shares were already doing very well before Bloomberg's latest report. A broader rally in chip equipment stocks that has followed Applied Materials' strong earnings/guidance appears to be helping out.
- U.S.-based rival Veeco (VECO +3.2%) is also outperforming on a day the Nasdaq is up 1.4%. Bloomberg's March report stated Aixtron had spoken with both Veeco and Chinese firms. Both companies have been hit hard by weak LED equipment demand caused by industry oversupply.
Wed, May 4, 4:33 PM
- Veeco Instruments (NASDAQ:VECO): Q1 EPS of -$0.15 beats by $0.11.
- Revenue of $78M (-20.7% Y/Y) beats by $1.83M.
Tue, May 3, 5:35 PM
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Mon, Feb. 22, 6:20 PM
- Veeco Instruments (NASDAQ:VECO) has tumbled 12% after hours as demand continues to shrink, though the company narrowed a net loss and beat expectations for Q4 earnings.
- Guidance for Q1 was especially soft, with a forecast for revenue of $70M-$80M (vs. expected $101.8M) and non-GAAP EPS of -$0.35 to -$0.25 (vs a consensus for break-even). "Entering 2016, we continue to face a weak macroeconomic environment and challenging LED industry conditions," says CEO John Peeler. "As a result, we expect investments for Metal Organic Chemical Vapor Deposition (MOCVD) equipment will remain soft through the first half of this year."
- Revenues fell 6.2% to $106.5M. For the full year, they rose to $477M from 2014's $392.9M.
- GAAP EPS came to -$0.25, which had shrunk from the previous year's -$1.44. On a non-GAAP basis, EPS was $0.01, down from the prior year's $0.13. EBITDA of $4.45M also beat expectations for $1.8M.
Mon, Feb. 22, 4:08 PM
- Veeco Instruments (NASDAQ:VECO): Q4 EPS of $0.01 beats by $0.03.
- Revenue of $106.5M (-6.2% Y/Y) beats by $6.66M.
- Shares -2%.
Sun, Feb. 21, 5:35 PM
Mon, Jan. 4, 3:28 PM
- Bill Miller, until now EVP of Veeco's (VECO +0.3%) Process Equipment division (provides etch/deposition equipment for manufacturing LEDs and other chips), has been promoted to President.
- Miller is now responsible for "all of Veeco's business units and central R&D." He'll also continue overseeing the company's manufacturing ops.
Dec. 22, 2015, 5:06 PM
- An unnamed "leading foundry in Asia" (TSMC?) has placed multiple orders for Veeco's (NASDAQ:VECO) WaferStorm system, which handles chip wafer processing for advanced packaging applications.
- SVP Herman Itzkowitz: "As the complexity of the packaging process increases, our differentiated technology enables customers to more tightly control the flux removal process [for chip packaging] resulting in higher yields ... In addition to securing business with a leading Asian foundry this quarter, we've also received initial system orders from an Asian [chip packaging/testing services] customer and believe that our process flexibility and expertise will enable us to expand the business in 2016."
- WaferStorm stems from Veeco's $150M late-2014 acquisition of chip equipment maker SSEC. Veeco is coming off a Q3 in which (thanks to soft LED equipment orders) its bookings fell to $52M from Q2's $124M.
- VECO +1.7% after hours to $22.00.
Dec. 11, 2015, 12:21 PM
- Summit Research's Srini Sundarajan has upgraded Veeco (VECO +1.5%) to Hold in response to news rival Aixtron has seen major LED equipment order cancellations from China's San'an Optoelectronics due to qualification issues. His target is $24.
- Sundarajan: "Overall, we think [San'an's decision] is a big positive for Veeco. Veeco's shipments to San'an have been proceeding without delay. It might indicate that AIXG's R6 [system] is not as suitable for San'an's applications or it may indicate that the tool needs to make additional modifications. But obviously it indicates that VECO is doing slightly better than AIXG and that [Veeco's EPIK system] is doing better than R6, whatever the reason.
- Veeco is higher in spite of a 1.9% Nasdaq drop. Shares are up 6% over the last three days.
Dec. 10, 2015, 9:54 AM
- Aixtron (NASDAQ:AIXG) is now down 40% over the last two days thanks to yesterday's news major Chinese LED equipment maker San'an Optoelectronics has cancelled plans to buy additional AIX R6 MOCVD systems due to the system's failure to meet qualification requirements.
- Benchmark has downgraded Aixtron to Positive from Buy. Canaccord's Jed Dorsheimer has cut his target by $0.75 to $3.75, while reiterating a Sell. "Given continued weak market conditions, we see a protracted turnaround at best."
- Rival Veeco (NASDAQ:VECO) is now up 7% over the last two days. Benchmark views Aixtron's issues as a positive for Veeco.