SOURCE: The Bedford Report

The Bedford Report

January 19, 2011 11:25 ET

Cree & Novellus Face Soft Demand Concerns

The Bedford Report Provides Analyst Research on Cree & Novellus

NEW YORK, NY--(Marketwire - January 19, 2011) - Over the past year the semiconductor equipment and materials industry has posted significant gains. Revenues have surged thanks in part to mobile devices, tablet computers and even the emerging solar market. Emerging markets are expected to play a critical role going forward as established markets are becoming saturated. Competition is fierce in emerging markets, however, making it challenging for investors to choose industry leaders from laggards. The Bedford Report examines the outlook for companies in the semiconductor equipment and materials industry and provides research reports on Cree, Inc. (NASDAQ: CREE) and Novellus Systems, Inc. (NASDAQ: NVLS). Access to the full company reports can be found at:

Both Gartner and SEMI have forecast a slowdown in orders for the first part of 2011. Judging by Novellus' wide fourth quarter guidance the company is uncertain about end demand. The company expects shipping to increase 5-13% to the $380-410 million range, revenues to increase 0-5% to the $367-385 million range.

The Bedford Report releases regular market updates on the semiconductor equipment and materials industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at and get exclusive access to our numerous analyst reports and industry newsletters.

Several companies in the industry who specialize in LED products have suffered significant selloffs already. When Citigroup downgraded Veeco, it sent the LED sector into a whole new tailspin. Cree proceeded to magnify concerns yesterday evening when its fiscal second quarter earnings missed consensus analyst estimates. For the company's fiscal third quarter, Cree forecast EPS of 38 cents to 45 cents. The Street has been looking for 58 cents.

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