Veeco Instruments (NASDAQ:VECO – Get Free Report) updated its fourth quarter 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 0.350-0.450 for the period, compared to the consensus earnings per share 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.
Veeco Instruments Stock Up 3.3 %
Shares of Veeco Instruments stock traded up $0.96 on Wednesday, hitting $30.10. 826,435 shares of the company traded hands, compared to its average volume of 659,967. The company has a market cap of $1.71 billion, a PE ratio of 20.67 and a beta of 1.17. The company has a 50-day moving average price of $31.43 and a 200 day moving average price of $37.56. Veeco Instruments has a 12-month low of $26.11 and a 12-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.
Veeco Instruments (NASDAQ:VECO – Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The semiconductor company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.01). The company had revenue of $175.88 million during the quarter, compared to analyst estimates of $176.03 million. Veeco Instruments had a return on equity of 12.03% and a net margin of 11.83%. The business’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.21 earnings per share. Sell-side analysts predict that Veeco Instruments will post 1.2 earnings per share for the current year.
Analyst Upgrades and Downgrades
Insider Transactions at Veeco Instruments
In other news, CFO John P. Kiernan sold 2,500 shares of the firm’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $32.63, for a total transaction of $81,575.00. Following the completion of the transaction, the chief financial officer now owns 82,642 shares of the company’s stock, valued at approximately $2,696,608.46. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.20% of the company’s stock.
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.
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