What’s Moving These Hot Stocks: IPG Photonics, Veeco
IPG Photonics Corporation (NASDAQ:IPGP) posts second quarter revenue of $128 million to $138 million, compared to consensus of $134.58 million. The company comments that “Order flow continues to be robust. In North America, manufacturers are increasingly using fiber lasers in a broader range of industrial materials processing applications, which resulted in strong year-on-year sales growth for the region. Europe and China are performing better than expected considering the macro-economic factors in each region. Operationally, we are focused on identifying new opportunities for expansion, including developing specialized laser systems to meet customers’ needs and penetrating more deeply into the micro processing market with our QCW lasers. The range of applications for our fiber lasers continues to expand and we plan to capitalize on that growth with our superior technology, reliable and cost-effective products, and volume manufacturing capabilities.”
Veeco Instruments Inc.’s (NASDAQ:VECO) better than expected first quarter figures and its second quarter guidance are boosting other LED industry players, such as Rubicon Technology (NASDAQ:RBCN). SemiLEDs Corp. (NASDAQ:LEDS), Cree Inc. (NASDAQ:CREE), Aixtron and GT Advanced Technologies (GTAT). Analysts Canaccord, Needham, and Sterne Agee remain cautious, however, due to worries regarding weak LED end-market demand. Canaccord thinks LED TV sales will determine Veeco’s performance in the second half of 2012 and in 2013.
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