VECO

Veeco Instruments Inc. Partners with PlayNitride to Advance MicroLED Production with Lumina® MOCVD Systems

Veeco's Lumina MOCVD system has been qualified by PlayNitride for MicroLED production, with two units ordered for 2025.

Quiver AI Summary

Veeco Instruments Inc. announced that PlayNitride has qualified its Lumina® MOCVD system for the production of next-generation MicroLEDs and has ordered two systems for delivery in 2025. This partnership aims to enhance PlayNitride's MicroLED technology for applications in wearables, TVs, transparent displays, and automotive sectors. Dr. Charles Li, CEO of PlayNitride, praised the Lumina system for its performance and productivity advantages crucial for advancing their technology. Veeco highlighted the Lumina system's capabilities in high-volume manufacturing, ensuring excellent yield and uniformity due to its TurboDisc technology, which also allows for customizations for various semiconductor applications.

Potential Positives

  • PlayNitride has qualified Veeco's Lumina® MOCVD system for production of next-generation MicroLEDs, indicating strong market trust in Veeco's technology.
  • PlayNitride placed an order for two Lumina systems for delivery in 2025, showcasing a commitment to scaling production and enhancing future collaboration.
  • The Lumina system's capabilities, such as excellent thickness and compositional uniformity, position Veeco competitively in the high-volume manufacturing market for semiconductor devices.
  • The partnership with a leading-edge provider like PlayNitride enhances Veeco's reputation and signals potential growth in emerging markets like wearables and automotive displays.

Potential Negatives

  • Despite securing an order from PlayNitride, the press release does not provide any concrete financial details, which may raise concerns about the potential revenue impact of this partnership.
  • The mention of forward-looking statements introduces uncertainty regarding the company's future performance, indicating that the results may not meet market expectations.
  • The press release emphasizes technical specifications and advantages of Veeco's technology but lacks context on market competition, which could imply vulnerability in a rapidly evolving sector.

FAQ

What is the significance of Veeco's Lumina MOCVD system qualification?

PlayNitride has qualified the Lumina MOCVD system for producing next-generation MicroLEDs, underscoring its importance in advancing MicroLED technology.

How many Lumina systems did PlayNitride order?

PlayNitride has placed an order for two Lumina MOCVD systems for delivery in 2025.

What industries will benefit from PlayNitride's MicroLED technology?

PlayNitride's MicroLED technology will enhance wearables, TVs, transparent displays, and automotive applications.

What advantages does the Lumina MOCVD system offer?

The Lumina system delivers best-in-class performance, productivity, excellent uniformity, brightness, and low defectivity, essential for high-volume production.

What technology supports the Lumina MOCVD system?

The Lumina system features Veeco's proprietary TurboDisc technology, known for exceptional yield and high-throughput capabilities.

Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.


$VECO Insider Trading Activity

$VECO insiders have traded $VECO stock on the open market 6 times in the past 6 months. Of those trades, 0 have been purchases and 6 have been sales.

Here’s a breakdown of recent trading of $VECO stock by insiders over the last 6 months:

  • JOHN P KIERNAN (SVP & CHIEF FINANCIAL OFFICER) has traded it 6 times. They made 0 purchases and 6 sales, selling 15,000 shares.

To track insider transactions, check out Quiver Quantitative's insider trading dashboard.

$VECO Hedge Fund Activity

We have seen 144 institutional investors add shares of $VECO stock to their portfolio, and 149 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

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Full Release



PLAINVIEW, N.Y., Dec. 18, 2024 (GLOBE NEWSWIRE) -- Veeco Instruments Inc. (NASDAQ: VECO) today announced that PlayNitride, an industry leader in MicroLED technology, has qualified Veeco’s Lumina

®

MOCVD system for production of next-generation MicroLEDs, and also placed an order for two systems for delivery in 2025. PlayNitride’s decision followed a successful evaluation of Veeco’s Lumina

®

MOCVD system.



“We’re pleased to partner with Veeco for production and commercialization of our industry-leading MicroLED technology for wearables, TVs, transparent displays and automotive,” stated Dr. Charles Li, CEO & Chairman at PlayNitride. “The Lumina system is uniquely positioned to exceed market requirements by providing best-in-class performance and productivity advantages, each essential in advancing our technology and cost roadmap.”



“Qualification of our Lumina system by PlayNitride, a leading-edge provider of MicroLED technology, is an exciting win for our best-in-class MOCVD technology,” commented Anil Vijayendran, Vice President, MOCVD Product Line Management. “Veeco’s Lumina system is extensively used in high volume manufacturing utilizing the proven performance of our core TurboDisc® technology. Industry leaders such as PlayNitride require solutions enabling excellent uniformity, brightness, defectivity, and unmatched cost of ownership, all of which our Lumina system delivers.”



Core to the Lumina system is Veeco’s industry-leading MOCVD TurboDisc technology, featuring excellent thickness and compositional uniformity and low defectivity for exceptional yield. Veeco’s proprietary technology also supports high-throughput enabled by a clean reactor over long campaigns. Providing a seamless wafer size transition, the system is capable of depositing high quality arsenic phosphide (As/P) epitaxial layers on wafers up to eight inches in diameter. The Lumina system allows users to customize their systems for maximum value in delivering IR-LEDs, Edge-Emitting Lasers, VCSELs, and Solar Cells in high volume production.






About Veeco





Veeco (NASDAQ: VECO) is an innovative manufacturer of semiconductor process equipment. Our laser annealing, ion beam, chemical vapor deposition (CVD), metal organic chemical vapor deposition (MOCVD), single wafer etch & clean and lithography technologies play an integral role in the fabrication and packaging of advanced semiconductor devices. With equipment designed to optimize performance, yield and cost of ownership, Veeco holds leading technology positions in the markets we serve. To learn more about Veeco’s systems and service offerings, visit


www.veeco.com


.




To the extent that this news release discusses expectations or otherwise makes statements about the future, such statements are forward-looking and are subject to a number of risks and uncertainties that could cause actual results to differ materially from the statements made. These factors include the risks discussed in the Business Description and Management's Discussion and Analysis sections of Veeco's Annual Report on Form 10-K for the year ended December 31, 2023 and in our subsequent quarterly reports on Form 10-Q, current reports on Form 8-K and press releases. Veeco does not undertake any obligation to update any forward-looking statements to reflect future events or circumstances after the date of such statements.




Veeco Contacts:



Investors: Anthony Pappone | (516) 500-8798 |


apappone@veeco.com




Media: Brenden Wright | (410) 984-2610 |


bwright@veeco.com







This article was originally published on Quiver News, read the full story.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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