Gold prices hold gains amid Fed rate cut hopes, tariff jitters
In a challenging market environment, Veeco Instruments Inc. (NASDAQ:VECO) stock has recorded a new 52-week low, dipping to $17.1. This latest price level reflects a significant downturn for the company, which has seen its stock value decrease by 48.44% over the past year. According to InvestingPro data, the company maintains strong fundamentals with a current ratio of 3.98x and operates with moderate debt levels, suggesting financial stability despite market pressures. Investors are closely monitoring Veeco's performance as the company navigates through the headwinds that have impacted its market valuation, with many keeping an eye on potential shifts in the industry that may influence the stock's recovery prospects. With a healthy gross profit margin of 42.4% and positive earnings forecasts from analysts, InvestingPro analysis suggests the stock is currently undervalued, presenting a potential opportunity for value investors. Discover more insights and 10 additional ProTips for VECO with an InvestingPro subscription.
In other recent news, Veeco Instruments Inc. has updated its financial guidance for the fourth quarter and full year of 2024. The company now expects fourth-quarter revenue to range from $175 to $185 million, slightly increasing the lower end of its prior guidance. For the full year, revenue is projected to be between $710 to $720 million. In terms of earnings, Veeco anticipates fourth-quarter GAAP diluted earnings per share between $0.09 to $0.28, and non-GAAP diluted earnings per share between $0.36 to $0.44.
Additionally, Benchmark has adjusted its price target for Veeco to $31, maintaining a Buy rating, following the company's fourth-quarter results, which exceeded investor expectations by a small margin. Meanwhile, Needham has reduced its price target to $29, also maintaining a Buy rating, due to a mixed outlook for 2025, including a projected decline in China revenue but potential growth in advanced packaging and gate-all-around sectors. Northland analysts maintain an Outperform rating with a $30 target, highlighting Veeco's potential $300 million annual revenue from evaluation systems. These recent developments present a complex outlook for Veeco Instruments, with varying perspectives from analysts on the company's future performance.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.