Veeco Instruments (NASDAQ:VECO) Issues Q4 2024 Earnings Guidance

Veeco Instruments (NASDAQ:VECO) updated its fourth quarter 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 0.360-0.440 for the period, compared to the consensus earnings per share estimate of 0.400. The company issued revenue guidance of $175.0 million-$185.0 million, compared to the consensus revenue estimate of $176.0 million. Veeco Instruments also updated its FY 2024 guidance to 1.070-1.260 EPS.

Analyst Upgrades and Downgrades

VECO has been the subject of a number of recent analyst reports. StockNews.com upgraded shares of Veeco Instruments from a “sell” rating to a “hold” rating in a research report on Friday, December 6th. Citigroup raised Veeco Instruments from a “neutral” rating to a “buy” rating and set a $33.00 target price on the stock in a report on Monday, January 6th. Benchmark cut their price target on shares of Veeco Instruments from $42.00 to $38.00 and set a “buy” rating for the company in a report on Thursday, November 7th. The Goldman Sachs Group lowered their price objective on shares of Veeco Instruments from $35.00 to $30.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. Finally, Oppenheimer cut their target price on shares of Veeco Instruments from $45.00 to $40.00 and set an “outperform” rating for the company in a research note on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $39.71.

Veeco Instruments Stock Up 0.5 %

Shares of NASDAQ:VECO opened at $26.25 on Wednesday. Veeco Instruments has a 52 week low of $25.52 and a 52 week high of $49.25. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.41 and a current ratio of 3.54. The company has a market cap of $1.49 billion, a PE ratio of 19.44 and a beta of 1.15. The firm has a 50 day simple moving average of $27.72 and a 200 day simple moving average of $33.02.

Veeco Instruments (NASDAQ:VECO) last issued its earnings results on Wednesday, November 6th. The semiconductor company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.45 by $0.01. The business had revenue of $184.80 million during the quarter, compared to analysts’ expectations of $180.57 million. Veeco Instruments had a return on equity of 10.92% and a net margin of 11.34%. Veeco Instruments’s revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.41 earnings per share. As a group, research analysts expect that Veeco Instruments will post 1.12 earnings per share for the current year.

Insider Activity

In other Veeco Instruments news, CFO John P. Kiernan sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $27.63, for a total value of $69,075.00. Following the transaction, the chief financial officer now owns 75,142 shares in the company, valued at approximately $2,076,173.46. This represents a 3.22 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.40% of the stock is owned by corporate insiders.

Veeco Instruments Company Profile

Veeco Instruments Inc, together with its subsidiaries, develops, manufactures, sells, and supports semiconductor and thin film process equipment primarily to make electronic devices in the United States, Europe, the Middle East, and Africa, China, Rest of the Asia-Pacific, and internationally. The company offers laser annealing, ion beam deposition and etch, metal organic chemical vapor deposition, single wafer wet processing and surface preparation, molecular beam epitaxy, advanced packaging lithography, atomic layer deposition, and other deposition systems.