Robinhood shares gain on Q2 beat, as user and crypto growth accelerate
Veeco Instruments Inc. (NASDAQ:VECO) stock has reached a 52-week low, trading at $20.00, representing a significant 59% decline from its 52-week high of $49.25. According to InvestingPro analysis, the company maintains strong financial health with a GOOD overall rating, despite facing a challenging market environment. This price level reflects a significant downturn from the previous year, with the stock experiencing a 1-year decline of about 41%. Investors are closely monitoring Veeco’s performance, with analyst price targets suggesting potential upside from current levels. The company, known for its semiconductor and lighting solutions and valued at $1.17 billion, is navigating through industry headwinds that have impacted its stock valuation. InvestingPro’s Fair Value analysis suggests the stock may be undervalued at current levels, with additional insights available in the comprehensive Pro Research Report covering this and 1,400+ other US equities.
In other recent news, Veeco Instruments has updated its financial guidance for the fourth quarter and full year of 2024. The company now expects fourth-quarter revenue to be between $175 million and $185 million, slightly increasing from the lower end of the previous range. For the full year, revenue is anticipated to range from $710 million to $720 million. Despite this adjustment, Veeco’s fourth-quarter earnings exceeded investor expectations by one cent, with a notable 13% year-over-year growth in its Semiconductor segment.
Benchmark analyst Mark Miller has adjusted Veeco’s price target to $31, maintaining a Buy rating. Similarly, Needham has reduced its price target for Veeco to $29, while also keeping a Buy rating. Both firms highlight mixed expectations for the company’s performance in 2025, with some segments like advanced packaging expected to grow, while others may face challenges. Veeco’s management has expressed optimism in specific areas, predicting revenue from advanced packaging and gate-all-around sectors to double in 2025.
Northland analysts continue to support Veeco with an Outperform rating and a $30 price target, citing the company’s ongoing evaluation systems as potential revenue drivers. Additionally, Veeco Instruments, along with other semiconductor equipment companies, experienced a notable stock uptick following a series of analyst upgrades. These developments reflect a complex landscape for Veeco, with both opportunities and challenges shaping its near-term financial outlook.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.