Veeco Instruments (NASDAQ:VECO) Updates 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 Ratings Changes

A number of equities analysts have commented on the company. Benchmark decreased their target price on Veeco Instruments from $42.00 to $38.00 and set a “buy” rating for the company in a research note on Thursday. Citigroup downgraded Veeco Instruments from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $45.00 to $50.00 in a research note on Monday, July 15th. Northland Securities cut their target price on Veeco Instruments from $53.00 to $47.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Oppenheimer lowered their price target on shares of Veeco Instruments from $45.00 to $40.00 and set an “outperform” rating for the company in a research report on Thursday. Finally, The Goldman Sachs Group dropped their price objective on shares of Veeco Instruments from $35.00 to $30.00 and set a “neutral” rating on the stock in a report on Thursday. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.14.

Veeco Instruments Price Performance

VECO stock traded down $0.40 during trading on Friday, hitting $28.68. The company had a trading volume of 694,572 shares, compared to its average volume of 661,573. The business has a 50 day moving average of $31.21 and a 200 day moving average of $37.45. The firm has a market capitalization of $1.63 billion, a price-to-earnings ratio of 21.54 and a beta of 1.17. The company has a current ratio of 3.52, a quick ratio of 2.32 and a debt-to-equity ratio of 0.35. Veeco Instruments has a fifty-two week low of $26.23 and a fifty-two week high of $49.25.

Veeco Instruments (NASDAQ:VECO) last issued its quarterly earnings results 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 return on equity of 11.13% and a net margin of 11.34%. The company 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 company posted $0.21 earnings per share. The company’s revenue was up 8.8% on a year-over-year basis. As a group, research analysts predict that Veeco Instruments will post 1.2 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO John P. Kiernan sold 2,500 shares of Veeco Instruments stock in a transaction on 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. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.40% of the stock is currently owned by insiders.

Veeco Instruments Company Profile

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.