Veeco Instruments (NASDAQ:VECO) Releases FY 2024 Earnings Guidance

Veeco Instruments (NASDAQ:VECO) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 1.070-1.260 for the period, compared to the consensus EPS estimate of 1.210. The company issued revenue guidance of -. Veeco Instruments also updated its Q4 guidance to $0.36-$0.44 EPS.

Wall Street Analysts Forecast Growth

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

Veeco Instruments Trading Up 0.5 %

NASDAQ:VECO opened at $26.25 on Wednesday. The company has a current ratio of 3.54, a quick ratio of 2.41 and a debt-to-equity ratio of 0.33. Veeco Instruments has a 1-year low of $25.52 and a 1-year high of $49.25. The firm has a market capitalization of $1.49 billion, a price-to-earnings ratio of 19.44 and a beta of 1.15. The business’s 50-day moving average price is $27.72 and its two-hundred day moving average price is $33.02.

Veeco Instruments (NASDAQ:VECO) last announced its quarterly earnings results on Wednesday, November 6th. The semiconductor company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.01. Veeco Instruments had a net margin of 11.34% and a return on equity of 10.92%. The business had revenue of $184.80 million for the quarter, compared to the consensus estimate of $180.57 million. During the same period last year, the company posted $0.41 EPS. Veeco Instruments’s revenue for the quarter was up 4.2% on a year-over-year basis. On average, equities analysts expect that Veeco Instruments will post 1.12 earnings per share for the current year.

Insider Transactions at Veeco Instruments

In related news, CFO John P. Kiernan sold 2,500 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $28.67, for a total transaction of $71,675.00. Following the sale, the chief financial officer now owns 80,142 shares of the company’s stock, valued at approximately $2,297,671.14. This trade represents a 3.03 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 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.