Veeco Instruments (NASDAQ:VECO) Releases 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.

Veeco Instruments Stock Performance

NASDAQ VECO traded up $0.96 during trading on Wednesday, hitting $30.10. 826,235 shares of the company’s stock traded hands, compared to its average volume of 659,968. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.32 and a current ratio of 3.52. The stock has a market capitalization of $1.71 billion, a price-to-earnings ratio of 20.67 and a beta of 1.17. Veeco Instruments has a 12-month low of $26.11 and a 12-month high of $49.25. The business has a 50 day moving average of $31.43 and a 200-day moving average of $37.56.

Veeco Instruments (NASDAQ:VECO) last released its quarterly earnings data on Tuesday, August 6th. The semiconductor company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $176.03 million. During the same quarter in the prior year, the firm posted $0.21 earnings per share. The firm’s quarterly revenue was up 8.8% on a year-over-year basis. As a group, equities research analysts anticipate that Veeco Instruments will post 1.2 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on VECO. Benchmark reissued a “buy” rating and issued a $42.00 price target on shares of Veeco Instruments in a report on Wednesday, August 7th. StockNews.com upgraded Veeco Instruments from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. Citigroup downgraded shares of Veeco Instruments from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $45.00 to $50.00 in a research note on Monday, July 15th. Northland Securities dropped their price objective on Veeco Instruments from $53.00 to $47.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Finally, Needham & Company LLC restated a “buy” rating and set a $55.00 target price on shares of Veeco Instruments in a report on Wednesday, August 7th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $45.57.

Insiders Place Their Bets

In other news, CFO John P. Kiernan sold 2,500 shares of the business’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $32.63, for a total transaction of $81,575.00. Following the sale, the chief financial officer now owns 82,642 shares in the company, valued at approximately $2,696,608.46. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.20% of the stock is owned by corporate insiders.

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.