Canaccord Genuity on CleanTech Energy and Power Technologies: LED Sector Shining This Summer?

June 27, 2012 10:02 AM EDT
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Canaccord Genuity on CleanTech Energy and Power Technologies

Analyst, Jonathan Dorsheimer, has had several conversations throughout the LED supply chain and attended LED Lighting Taiwan

Dorsheimer said, "In summary, trends have stabilized but it is early in a recovery, with risks of further cuts if TV demand does not pan out. Positively, Cree’s new product family appears to be picking up momentum in Asia, lighting trends are developing ahead of expectations but still too early to offset display, and signs of select companies upgrading tools have materialized recently."

"Sapphire pricing has stabilized but not increased. We believe this is a function of incremental supply coming into the market from new entrants with high cost structures."

Stocks of Note: SemiLEDs (Nasdaq: LEDS), Cree (Nasdaq: CREE), Veeco Instruments (Nasdaq: VECO), and ChipMOS (Nasdaq: IMOS)

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