Veeco Instruments (NASDAQ:VECO) Issues Q4 Earnings Guidance

Veeco Instruments (NASDAQ:VECO) updated its fourth quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $0.35-0.45 for the period, compared to the consensus earnings per share estimate of $0.46. The company issued revenue guidance of $165-185 million, compared to the consensus revenue estimate of $183.53 million. Veeco Instruments also updated its Q4 2024 guidance to 0.350-0.450 EPS.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on VECO shares. Needham & Company LLC restated a “buy” rating and set a $55.00 price objective on shares of Veeco Instruments in a research report on Wednesday, August 7th. Benchmark lowered their price target on Veeco Instruments from $42.00 to $38.00 and set a “buy” rating on the stock in a report on Thursday. StockNews.com upgraded shares of Veeco Instruments from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. Oppenheimer lowered their price objective on Veeco Instruments from $45.00 to $40.00 and set an “outperform” rating on the stock in a research report on Thursday. Finally, The Goldman Sachs Group dropped their price target on Veeco Instruments from $35.00 to $30.00 and set a “neutral” rating on the stock in a research note on Thursday. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $42.14.

Veeco Instruments Stock Performance

Shares of VECO traded down $0.40 during mid-day trading on Friday, reaching $28.68. 694,572 shares of the company’s stock were exchanged, compared to its average volume of 661,573. The business’s fifty day simple moving average is $31.08 and its 200-day simple moving average is $37.43. Veeco Instruments has a 52-week low of $26.23 and a 52-week high of $49.25. The stock has a market capitalization of $1.63 billion, a PE ratio of 21.24 and a beta of 1.17. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.52 and a quick ratio of 2.32.

Veeco Instruments (NASDAQ:VECO) last posted its quarterly earnings results on Tuesday, August 6th. The semiconductor company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.01). The firm had revenue of $175.88 million for the quarter, compared to analysts’ expectations of $176.03 million. Veeco Instruments had a net margin of 11.34% and a return on equity of 11.13%. Veeco Instruments’s revenue was up 8.8% on a year-over-year basis. During the same period last year, the firm posted $0.21 EPS. On average, equities research analysts expect that Veeco Instruments will post 1.2 earnings per share for the current year.

Insider Transactions at Veeco Instruments

In other news, CFO John P. Kiernan sold 2,500 shares of the business’s stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $32.63, for a total transaction of $81,575.00. Following the completion of the sale, the chief financial officer now owns 82,642 shares in the company, valued at $2,696,608.46. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.40% of the stock is currently 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.