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(EMAILWIRE.COM, August 24, 2013 ) San Francisco, CA -- Semiconductor equipment industry is not seeing the rebound it expected to see in the second half of 2013, according to the chip equipment analyst Robert Maire in his note that was released earlier this month.
Mair, who reviewed the results in the last several weeks covering the major players that included KLA-Tencor, Teradyne, Lam Research, Mattson Technology, and FormFactor, stated:
“So much for a second half recovery. Q3 is shaping up to be the quarter that wasn’t. Sounds like a lot of business is moving to the right. The question is how far to the right? The underlying technology dynamics remain solid but there is a lot of market fuzz surrounding it as we pointed out in our last report yesterday. Our concern is growing that Q4 also disappoint if things push too far. So far, everyone is adamant that Q4 will be good, however that's what everyone was saying about the second half of 2013 a few months ago.”
Mair also noted that “In a bizarre twist of fate, it seems the companies that are currently losing money are the ones guiding up,” and cited that the report from Axcelis Technologies was nearly on line with the $53 million projected earlier in the year.
In a bizarre twist of fate, it seems the companies that are currently losing money are the ones guiding up , such as ACLS, FORM and MTSN. Companies making money are generally guiding down. Don’t ever try to think logically about this industry, you will be wrong. We try to remain counter intuitive in our thinking but sometimes the industry still surprises us.”
Maire noted his own positive bias when it came to Axcelis, “given what we see as upside in the story.” Meanwhile, the latest downgrade in the group today came from Pacific Crest Weston Twigg, who was forced to cut his rating from Outperform to Sector Perform. The second quarter, while having a strong forecast, saw rather abysmal revenue considering.
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Source: EmailWire.com
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