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

Veeco Instruments (NASDAQ:VECO) updated its fourth quarter 2024 earnings guidance on Wednesday. The company provided EPS guidance of 0.350-0.450 for the period, compared to the consensus EPS estimate of 0.460. The company issued revenue guidance of $165.0 million-$185.0 million, compared to the consensus revenue estimate of $183.0 million. Veeco Instruments also updated its Q4 guidance to $0.35-0.45 EPS.

Analyst Upgrades and Downgrades

VECO has been the topic of several research analyst reports. Northland Securities lowered their price objective on Veeco Instruments from $53.00 to $47.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Citigroup downgraded Veeco Instruments from a “buy” rating to a “neutral” rating and increased their price target for the stock from $45.00 to $50.00 in a report on Monday, July 15th. Needham & Company LLC reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Veeco Instruments in a research note on Wednesday, August 7th. Benchmark reissued a “buy” rating and set a $42.00 target price on shares of Veeco Instruments in a research report on Wednesday, August 7th. Finally, StockNews.com upgraded shares of Veeco Instruments from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. Four investment 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, Veeco Instruments has a consensus rating of “Moderate Buy” and an average target price of $45.57.

Veeco Instruments Price Performance

VECO stock traded up $0.96 during trading hours on Wednesday, hitting $30.10. 826,435 shares of the stock traded hands, compared to its average volume of 659,967. The company has a market cap of $1.71 billion, a P/E ratio of 20.67 and a beta of 1.17. Veeco Instruments has a one year low of $26.11 and a one year high of $49.25. The company has a current ratio of 3.52, a quick ratio of 2.32 and a debt-to-equity ratio of 0.35. The stock has a 50-day simple moving average of $31.43 and a 200 day simple moving average of $37.56.

Veeco Instruments (NASDAQ:VECO) last issued its quarterly earnings results on Tuesday, August 6th. The semiconductor company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.01). Veeco Instruments had a net margin of 11.83% and a return on equity of 12.03%. The business had revenue of $175.88 million during the quarter, compared to analyst estimates of $176.03 million. During the same period in the prior year, the business posted $0.21 earnings per share. The company’s revenue for the quarter was up 8.8% compared to the same quarter last year. Equities analysts forecast that Veeco Instruments will post 1.2 earnings per share for the current year.

Insider Activity at Veeco Instruments

In other Veeco Instruments news, CFO John P. Kiernan sold 2,500 shares of Veeco Instruments stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $32.63, for a total transaction of $81,575.00. Following the transaction, the chief financial officer now directly owns 82,642 shares in the company, valued at approximately $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 accessible through this link. Insiders own 2.20% 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.