California State Teachers Retirement System Reduces Holdings in Veeco Instruments Inc.

California State Teachers Retirement System Reduces Holdings in Veeco Instruments Inc. (NASDAQ:VECO)

The California State Teachers Retirement System has decreased its holdings in Veeco Instruments Inc. by 5.8%, selling 3,419 shares during the first quarter. After the sale, they now own 55,781 shares, representing approximately 0.10% of the company, valued at $1,962,000. This reduction in holdings may reflect a cautious approach towards the company's stock performance.

Veeco Instruments Inc.

Veeco Instruments Announces Earnings Results, Misses Expectations By $0.01 EPS

Veeco Instruments (NASDAQ:VECO) Announces Earnings Results, Misses Expectations By $0.01 EPS

Veeco Instruments (NASDAQ:VECO) Shares Gap Down After Earnings Miss

Veeco Instruments Inc. reported earnings of $0.42 per share for the quarter, falling short of analysts' expectations of $0.43 by $0.01. The company also reported revenue of $175.88 million, slightly below the anticipated $176.03 million. Despite the miss, Veeco's revenue showed an 8.8% increase year-over-year. The company updated its Q3 guidance to an EPS range of $0.39 to $0.49. Following the earnings announcement, Veeco's shares experienced a gap down in trading.

GAMMA Investing LLC Increases Stake in Veeco Instruments Inc.

GAMMA Investing LLC Acquires 1,180 Shares of Veeco Instruments Inc. (NASDAQ:VECO)

GAMMA Investing LLC has significantly increased its stake in Veeco Instruments Inc. by 237.4% during the second quarter, now owning 1,677 shares valued at approximately $78,000. This move reflects growing confidence in the company's potential. Additionally, analysts have rated VECO stock as a 'Moderate Buy' with a consensus price target of $45.57.

Veeco Instruments Adjusted Price Targets and Earnings Report

Veeco Instruments (NASDAQ:VECO) Given New $47.00 Price Target at Northland Securities

Veeco Instruments Second Quarter 2024 Earnings: EPS Misses Expectations

Northland still bullish on Veeco Instruments stock, highlights 'high win rate' in evaluations

Veeco Instruments Inc. (NASDAQ:VECO) Given Consensus Rating of “Moderate Buy” by Analysts

Veeco Instruments Inc. has seen a series of adjustments to its stock price targets from various analysts. Northland Securities lowered its target from $53.00 to $47.00, while Needham & Company maintained a buy rating with a target of $55.00. Oppenheimer raised its target to $55.00, and Citigroup downgraded Veeco from buy to neutral but increased its target to $50.00. Despite these mixed signals, Veeco reported a revenue of $175.9 million for Q2 2024, marking an 8.8% increase from the previous year, but missed EPS estimates by 9.1%. The company also experienced a 16% drop in shares over the past week, indicating some investor concern.

Veeco Instruments Shows Positive Growth Indicators

Does Veeco Instruments (NASDAQ:VECO) Deserve A Spot On Your Watchlist?

In a separate analysis, Veeco Instruments demonstrated a 10% increase in earnings per share (EPS) over the past year, rising from US$1.32 to US$1.46. The company's EBIT margins improved from 8.5% to 12%, and insider ownership valued at US$45 million reflects strong alignment with shareholder interests. The CEO's compensation of US$4.6 million is considered reasonable compared to peers.

Analyst Ratings Update for Veeco Instruments

Veeco Instruments' (VECO) "Buy" Rating Reiterated at Needham & Company LLC

Veeco Instruments (NASDAQ:VECO) Given Buy Rating at Benchmark

Veeco Instruments received a 'Buy' rating reiteration from Needham & Company LLC. However, Northland adjusted its price target for Veeco's shares down to $47.00 from $53.00 while maintaining an Outperform rating. Citi downgraded Veeco from 'Buy' to 'Neutral' but raised the price target to $50, reflecting confidence in the company's growth opportunities in laser and nano anneal technologies.

Veeco Instruments (VECO) Q2 Earnings Miss Estimates

Veeco Instruments Inc. Earnings Missed Analyst Estimates: Here's What Analysts Are Forecasting Now

Veeco Instruments reported its Q2 earnings, posting $0.42 per share, which fell short of the Zacks Consensus Estimate of $0.44. However, the company achieved revenues of $175.88 million, exceeding expectations by 0.50%. Despite the earnings miss, Veeco's shares have increased by approximately 12.8% since the start of the year.

Veeco Reports Strong Q2 Earnings

Veeco: Q2 Earnings Snapshot

In its second quarter, Veeco Instruments reported a net income of $14.9 million, translating to a profit of 25 cents per share, with total revenue reaching $175.9 million. For the current quarter, the company expects per-share earnings to range between 39 cents and 49 cents, and anticipates revenue between $170 million and $190 million.

Veeco Instruments Launches New Solutions

2 Electronics Stocks to Buy From a Prospering Industry

Veeco Instruments Inc. (NASDAQ:VECO) Q2 2024 Earnings Call Transcript

Veeco Reports Second Quarter 2024 Financial Results

Veeco Instruments has launched a next-generation nanosecond annealing solution and an ion beam deposition system designed for low-resistance metals. This innovation is expected to significantly drive top-line growth for the company, reflecting its expanding portfolio and strong clientele.

Charles Schwab Investment Management Inc. Boosts Holdings in Veeco Instruments Inc.

Charles Schwab Investment Management Inc. Buys 13963 Shares of Veeco Instruments Inc. (NASDAQ:VECO)

Charles Schwab Investment Management Inc. has increased its stake in Veeco Instruments Inc., owning 449,478 shares worth $13,947,000 as of the most recent reporting period.

Veeco Instruments Inc. is a leading global provider of advanced technology solutions in the fields of thermal annealing, lithography, ion beam, chemical vapor deposition (CVD), molecular beam epitaxy (MBE), atomic layer deposition (ALD), physical vapor deposition (PVD), dicing and lapping, and gas & vapor delivery systems for various industries including semiconductor, data storage, MEMS, photonics, and advanced microelectronics.

Veeco Precision Surface Processing

Making a Material Difference is at the core of our DNA. For more than 30 years, we have developed differentiated technologies and built expertise and know-how that has enabled world-changing devices such as LED lighting, data storage, advanced computing and mobile devices to reach industrial scale. We help customers overcome technical and cost barriers that make it possible to convert novel materials into high-yielding device performance at production volumes. Our customers produce the newest, fastest, smallest, and most efficient electronic components used in devices to help deliver a better world. 

We serve the semiconductor and emerging high-growth markets. Our process equipment and technology are used to manufacture advanced semiconductors, LEDs, displays, photonics, VCSELs, power electronics, compound semiconductors, hard disk drives, MEMS and wireless chips. For information on our company, products and worldwide service and support, please visit www.veeco.com.

US Department of Energy

NYSERDA

Veeco

This month, we honor the achievements, contributions, and resilience of women everywhere this #WomensHistoryMonth and beyond. 
#MakingAMaterialDifference

We are presenting at CS International. Rudy Parekh will present Accelerating the Growth of GaN-based Power Electronics Via Adoption of 300mm Technology. Full agenda and information available here: https://bit.ly/3UXJPX3

#MakingAMaterialDifference #CSInternational

We're Hiring! Edward Budriss, Veeco's Director of Mechanical Engineering, is hiring a Staff Mechanical Engineer to join his CIP and R&D team based in Horsham, Pennsylvania. This is a great opportunity to directly contribute to the evolution of our wet processing tools and our customer’s challenges to technology advancement. Read about this opportunity here: https://bit.ly/42PqEAz

#MakingAMaterialDifference #MechanicalEngineer 

Earlier this month, our San Jose team joined forces for a meaningful cause at the volunteer event known as “4th and Reed,” a volunteer event organized by Habitat for Humanity. Our volunteers contributed their time and skills towards transforming the Historic Pallesen Apartments. This effort aims to convert the building into four new, affordable condominiums and provides much-needed housing solutions for deserving local families in the surrounding community. #MakingAMaterialDifference

We are proud to recognize National Engineers Week, one of the largest STEM events of the year in the United States.  We celebrate the amazing accomplishments of engineers, technicians, and technologists and we work to encourage the next generation of difference-makers to enter STEM fields.  Pop quiz: Do you know why National Engineers Week is held at this time in February? Drop us a comment with your best guess. 
#MakingAMaterialDifference

Veeco Instruments Inc., together with its subsidiaries, develops, manufactures, sells, and supports semiconductor and thin film process equipment primarily to make electronic devices worldwide. 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, and atomic layer deposition and other deposition systems, as well as packaging lithography equipment. Its process equipment systems are used in the production of a range of microelectronic components, including logic, dynamic random-access memory, photonics devices, power electronics, radio frequency filters and amplifiers, magnetic heads for hard disk drives, and other semiconductor devices. In addition, the company markets and sells its products to integrated device manufacturers and foundries; outsourced semiconductor assembly and test, hard disk drive, and photonics manufacturers; and research centers and universities. Veeco Instruments Inc. was founded in 1945 and is headquartered in Plainview, New York.

COM:VEECO

Veeco Instruments Inc.

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31.94

25/09 14:37

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2.75B

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