SOURCE: Five Star Equities

Five Star Equities

March 12, 2013 08:20 ET

Cree and Veeco Instruments Look to Benefit From Surging LED Lighting Market in 2013

Five Star Equities Provides Stock Research on Cree and Veeco Instruments

NEW YORK, NY--(Marketwire - Mar 12, 2013) - LED companies have been trending upwards in recent weeks due to potential growth within the lighting market, which has been dominated by the standard incandescent bulb for decades. Greg Sebasky, CEO of Philips' North American Unit, has recently stated that the LED lighting market will grow 40 percent in 2013, according to research firm IHS Inc. Five Star Equities examines the outlook for companies in the Semiconductors Industry and provides equity research on Cree, Inc. (NASDAQ: CREE) and Veeco Instruments Inc. (NASDAQ: VECO).

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In the U.S. LED bulbs account for less than 1 percent of the 5.6 billion bulbs used in residential homes. Although LED bulbs cost quite a bit more than the stand bulb, the higher costs of LED bulbs have begun to be justified by the consumer as they are 80 percent more efficient and can last for over a decade. Philips Electronics NV recently unveiled a 60-watt equivalent LED light bulb that will sell for approx. $10. According to Bloomberg, Sebasky has said energy-efficient technology will be responsible for roughly 50 percent of lighting sale by 2015, an increase of 25 percent when compared to 2012.

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Cree recently unveiled a series of LED bulbs at an affordable retail price for consumers. "The Cree LED light bulb was designed to offer consumers a no-compromise lighting experience at a compelling price," said Chuck Swoboda, Cree chairman and CEO. "Over the last couple of years we recognized that the consumer is instrumental in the adoption of LED lighting, but we needed to give them a reason to switch. We believe this breakthrough LED bulb will, for the first time, give consumers a reason to upgrade the billions of energy-wasting light bulbs."

Veeco's production-proven MOCVD (metal organic chemical vapor deposition) technology will drive down the cost of LEDs and help spread LED technology into applications such as backlighting and general lighting. The company offers a range of industry leading MOCVD equipment, including the TurboDisc MaxBright M Multi-Reactor and TurboDisc K465i GaN MOCVD systems.

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