Veeco Instruments (NASDAQ:VECO) Updates Q4 Earnings Guidance

Veeco Instruments (NASDAQ:VECO) issued an update on its fourth quarter earnings guidance on Wednesday morning. 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.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on VECO. Benchmark decreased their price objective on Veeco Instruments from $42.00 to $38.00 and set a “buy” rating on the stock in a report on Thursday. The Goldman Sachs Group reduced their target price on Veeco Instruments from $35.00 to $30.00 and set a “neutral” rating on the stock in a report on Thursday. Needham & Company LLC reissued a “buy” rating and issued a $55.00 price target on shares of Veeco Instruments in a research report on Wednesday, August 7th. StockNews.com raised Veeco Instruments from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. Finally, Oppenheimer dropped 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. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Veeco Instruments has an average rating of “Moderate Buy” and a consensus price target of $42.14.

Veeco Instruments Stock Performance

Shares of Veeco Instruments stock traded down $0.40 on Friday, reaching $28.68. 694,572 shares of the stock were exchanged, compared to its average volume of 661,573. Veeco Instruments has a twelve month low of $26.23 and a twelve month high of $49.25. The company has a quick ratio of 2.32, a current ratio of 3.52 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $1.63 billion, a price-to-earnings ratio of 21.24 and a beta of 1.17. The business has a 50 day moving average price of $31.08 and a two-hundred day moving average price of $37.43.

Veeco Instruments (NASDAQ:VECO) last posted its quarterly earnings results on Tuesday, August 6th. The semiconductor company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.01). The business had revenue of $175.88 million during the quarter, compared to analysts’ expectations of $176.03 million. Veeco Instruments had a return on equity of 11.13% and a net margin of 11.34%. The business’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.21 earnings per share. Analysts anticipate that Veeco Instruments will post 1.2 earnings per share for the current fiscal year.

Insider Buying and Selling at Veeco Instruments

In other news, CFO John P. Kiernan sold 2,500 shares of the stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $32.63, for a total value of $81,575.00. Following the sale, the chief financial officer now directly owns 82,642 shares in the company, valued at $2,696,608.46. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.40% of the stock is 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.