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

Veeco Instruments (NASDAQ:VECO - Get Free Report) 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.

Analyst Ratings Changes

A number of equities analysts have commented on VECO shares. Oppenheimer reduced their price objective 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. StockNews.com raised shares of Veeco Instruments from a "sell" rating to a "hold" rating in a report on Friday, December 6th. The Goldman Sachs Group reduced their target price on shares of Veeco Instruments from $35.00 to $30.00 and set a "neutral" rating on the stock in a research report on Thursday, November 7th. Citigroup raised shares of Veeco Instruments from a "neutral" rating to a "buy" rating and set a $33.00 price target for the company in a report on Monday, January 6th. Finally, Benchmark cut their target price on shares of Veeco Instruments from $42.00 to $38.00 and set a "buy" rating on the stock in a research report on Thursday, November 7th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Veeco Instruments currently has a consensus rating of "Moderate Buy" and a consensus price target of $39.71.

Veeco Instruments Stock Up 0.5 %

VECO stock traded up $0.12 during trading hours on Tuesday, reaching $26.25. 590,835 shares of the stock were exchanged, compared to its average volume of 634,404. The firm's 50-day moving average is $27.72 and its 200-day moving average is $33.02. Veeco Instruments has a 12 month low of $25.52 and a 12 month high of $49.25. The company has a market cap of $1.49 billion, a price-to-earnings ratio of 19.44 and a beta of 1.15. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.54 and a quick ratio of 2.41.

Veeco Instruments (NASDAQ:VECO - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.45 by $0.01. The business 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%. Veeco Instruments's quarterly revenue was up 4.2% on a year-over-year basis. During the same period last year, the company earned $0.41 earnings per share. On average, equities research analysts expect that Veeco Instruments will post 1.12 earnings per share for the current year.

Insiders Place Their Bets

In other Veeco Instruments news, CFO John P. Kiernan sold 2,500 shares of the company's stock in a transaction on Friday, January 10th. The shares were sold at an average price of $27.63, for a total transaction of $69,075.00. Following the sale, the chief financial officer now directly owns 75,142 shares of the company's stock, valued at approximately $2,076,173.46. This represents a 3.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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.