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DURHAM, N.C. - Cree (NYSE:WOLF) LED, a brand under Penguin Solutions (Nasdaq: PENG), has announced the launch of its new XLamp XP-L Photo Red S Line LEDs, which are set to enhance horticulture lighting efficiency and lifespan. These LEDs are tailored for large-scale growing operations such as greenhouses and vertical farms. The announcement comes as Penguin Solutions, with a market capitalization of $1.1 billion, shows strong momentum with a 10.6% year-to-date return according to InvestingPro data.
The latest XP-L Photo Red S Line LEDs are reported to offer a 6% increase in Wall-Plug Efficiency (WPE) compared to their predecessors, achieving 83.5% at 700 mA and 25°C. This advancement is expected to lower operational costs for horticulture businesses by either reducing power consumption for the same light output or decreasing the number of LEDs needed by up to 35%.
Crafted with the company’s S Line technology, the new LEDs boast superior sulfur and corrosion resistance, which contributes to a longer product life and consistent performance, thereby potentially reducing maintenance expenses. The LEDs maintain the same 3.45 x 3.45 mm footprint as the previous XP-G3 Photo Red S Line, allowing for easy integration into existing lighting systems.
Joe Clark, president of Cree LED, emphasized the combination of efficiency, durability, and the popular XP (NASDAQ:XP) package design as key benefits for customers in the horticulture industry. The company’s extensive portfolio aims to cater to a wide range of lighting applications.
Samples of the XP-L Photo Red S Line LEDs are currently available, with production quantities accessible within standard lead times. More information about the new product can be found on the Cree LED website.
Cree LED, with over 35 years of experience, holds a significant position in the LED industry, known for its broad range of LED chips and components that prioritize performance and reliability. The company’s intellectual property and business model are designed to ensure supply chain stability.
This announcement is based on a press release statement from Penguin Solutions, Inc.
In other recent news, semiconductor device company Penguin Solutions reported a robust start to the fiscal year, with its first-quarter earnings and revenue surpassing Wall Street expectations. The company’s Advanced Computing segment was instrumental in driving this growth, with revenue surging 49% year over year to $177.4 million. Penguin Solutions’ adjusted earnings per share came in at $0.49, beating the analyst consensus of $0.39, while the quarter’s revenue was $341 million, significantly higher than the estimated $320.17 million.
Needham analyst Nick Doyle highlighted the Advanced Computing segment’s significant contribution to the company’s overall performance, noting that revenue was running well above estimates due to the completion of two large projects. Doyle’s firm maintains a ’Buy’ rating on Penguin Solutions and has raised its price target to $27 from $25.
Looking ahead, Penguin Solutions reaffirmed its full-year fiscal 2025 outlook, projecting revenue growth of 15% year over year, plus or minus 5%, and a non-GAAP EPS of $1.50, plus or minus $0.20. These recent developments suggest that the company is successfully capitalizing on growing demand for AI infrastructure solutions.
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