NEW YORK, NY--(Marketwire - Oct 23, 2012) - The Light Emitting Diode (LED) industry is witnessing tremendous growth of late as governments and businesses look for ways to reduce energy consumption. LEDs have been gaining popularity in the street lighting market due to their energy and cost benefits. Five Star Equities examines the outlook on the LED Industry stocks and provides equity research on Veeco Instruments Inc. (NASDAQ: VECO) and SemiLEDs Corporation (NASDAQ: LEDS).
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According to a recent report from Pike Research the number of LED street light shipments is expected to rise rapidly from just 3 million in 2012 to over 17 million in 2020. Although LEDs costs more than traditional lighting they have a longer lifespan and a far lower rate of failure.
"LED lamps allow for better dimming control than standard street lights, and their electronics allow for easy integration of control nodes," says Pike Research's senior analyst Eric Woods. "Rising sales of LED lamps will therefore drive up the adoption of smart street lighting systems, which promise to bring new levels of control and efficiency to the illumination of our cities, communities, highways, and public spaces."
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Veeco Instruments designs, manufactures and markets equipment to make light emitting diodes (LEDs), hard-disk drives, as well as for other emerging applications. Veeco's third quarter 2012 revenue is currently forecasted to be between $120 million and $140 million. Shares of the company are up over 40 percent year-to-date.
SemiLEDs develops and manufactures LED chips and LED components for general lighting, including street lights and commercial, industrial and residential lighting, along with specialty industrial applications such as UV curing, medical/cosmetic, counterfeit detection, and horticulture. The company is scheduled to release their fourth quarter 2012 earnings on November 5, 2012.
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