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

Veeco Instruments (NASDAQ:VECO) issued an update on its fourth quarter 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 0.360-0.440 for the period, compared to the consensus EPS 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

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

Veeco Instruments Stock Down 2.1 %

Shares of VECO stock opened at $26.13 on Tuesday. Veeco Instruments has a 52-week low of $25.52 and a 52-week high of $49.25. The stock has a market cap of $1.48 billion, a price-to-earnings ratio of 19.36 and a beta of 1.15. The firm’s 50-day moving average is $27.72 and its 200-day moving average is $33.02. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.41 and a current ratio of 3.54.

Veeco Instruments (NASDAQ:VECO) last released its quarterly earnings data on Wednesday, November 6th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.01. Veeco Instruments had a return on equity of 10.92% and a net margin of 11.34%. The firm had revenue of $184.80 million for the quarter, compared to analyst estimates of $180.57 million. During the same quarter in the prior year, the company earned $0.41 earnings per share. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. Sell-side analysts predict that Veeco Instruments will post 1.12 EPS for the current year.

Insider Buying and Selling at Veeco Instruments

In other news, CFO John P. Kiernan sold 2,500 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $27.63, for a total transaction 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 trade represents a 3.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.40% of the company’s stock.

About Veeco Instruments

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.