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 earnings per share guidance of 0.360-0.440 for the period, compared to the consensus earnings per share 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 Trading Up 2.0 %

VECO opened at $26.78 on Thursday. Veeco Instruments has a one year low of $25.52 and a one year high of $49.25. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.54 and a quick ratio of 2.41. The business has a 50 day simple moving average of $27.67 and a two-hundred day simple moving average of $32.88. The firm has a market capitalization of $1.52 billion, a price-to-earnings ratio of 19.84 and a beta of 1.15.

Veeco Instruments (NASDAQ:VECO) last announced its earnings results on Wednesday, November 6th. The semiconductor company reported $0.46 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 the consensus estimate of $180.57 million. Veeco Instruments had a return on equity of 10.92% and a net margin of 11.34%. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.41 earnings per share. Analysts predict that Veeco Instruments will post 1.12 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on VECO shares. Citigroup raised shares of Veeco Instruments from a “neutral” rating to a “buy” rating and set a $33.00 target price on the stock in a research note on Monday, January 6th. The Goldman Sachs Group lowered their price objective on Veeco Instruments from $35.00 to $30.00 and set a “neutral” rating for the company in a research report on Thursday, November 7th. Oppenheimer reduced their target price on shares of Veeco Instruments from $45.00 to $40.00 and set an “outperform” rating on the stock in a research report on Thursday, November 7th. Benchmark lowered their price target 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. Finally, StockNews.com raised shares of Veeco Instruments from a “sell” rating to a “hold” rating in a research note on Friday, December 6th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Veeco Instruments presently has an average rating of “Moderate Buy” and a consensus target price of $39.71.

Insider Buying and Selling

In other Veeco Instruments news, CFO John P. Kiernan sold 2,500 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $28.67, for a total transaction of $71,675.00. Following the completion of the sale, the chief financial officer now directly owns 80,142 shares in the company, valued at approximately $2,297,671.14. This trade represents a 3.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.20% of the stock is currently owned by company 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.