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

Veeco Instruments (NASDAQ:VECO) updated its fourth quarter 2024 earnings guidance on Tuesday. 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.

Veeco Instruments Stock Down 2.1 %

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

Veeco Instruments (NASDAQ:VECO) last posted its earnings results on Wednesday, November 6th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.01. The company had revenue of $184.80 million during the quarter, compared to analysts’ expectations of $180.57 million. Veeco Instruments had a net margin of 11.34% and a return on equity of 10.92%. During the same quarter in the previous year, the company posted $0.41 earnings per share. Veeco Instruments’s quarterly revenue was up 4.2% compared to the same quarter last year. Equities research analysts anticipate that Veeco Instruments will post 1.12 EPS for the current fiscal year.

Analysts Set New Price Targets

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

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 Monday, November 11th. The shares were sold at an average price of $28.67, for a total value of $71,675.00. Following the completion of the transaction, the chief financial officer now owns 80,142 shares of the company’s stock, valued at $2,297,671.14. The trade was a 3.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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.