Time To Tune Into LED Stocks? Maybe One, At Least (RBCN, CREE, EFOI, PHG, VECO)
The past month has been a wild ride for LED stocks with the LED Stocks Index at one point tumbling as much as 10%, but the Index has fought its way back to a flat performance over that time and is down 0.1% today.
Positive comments from Kaufman Bros. about Rubicon Technology (RBCN) may be helping matters. The research firm said it expects Rubicon to be a solid performer in a favorable demand environment, noting that Rubicon plans to double capacity as LED production increases in China. Kaufman expects Rubicon to post 2011 sales of $176 million, which is above the current consensus estimate. The firm also expects Rubicon to generate a 2011 profit of $2.37 a share, which is 14% above the consensus estimate of $2.08 a share. Kaufman has a $30 price target on the stock.
Shares of Rubicon and rival Cree (CREE) are both up 1% or more, good for the best performances in the Index today. Energy Focus (EFOI) is down 3%, the worst decline in the Index. Philips Electronics (PHG) and Veeco Instruments (VECO) are also lower by 1%.
Investors can track the LED Stocks Index for performance trends and a suite of other metrics at tickerspy.com.
More on this topic (What's this?)
Rubicon (RBCN) Beats, Guides Above Estimates, Shares Soar (Green Stocks Central, 2/16/11)
Philips Electronics (NYSE:PHG) Employees Face Bribery Charges (eMoneyDaily, 2/23/11)
Market News Roundup (PHG, SWY, AXP) (Stock Briefings, 2/15/11)
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