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Veeco Instruments Inc. (NASDAQ:VECO) stock has reached a 52-week low, trading at $20.49, as the company faces a challenging market environment. Despite generating $717.3 million in revenue and maintaining a healthy current ratio of 3.98x, showing strong liquidity, the market sentiment remains cautious. This price level reflects a significant downturn from the stock’s performance over the past year, with Veeco Instruments experiencing a 1-year change of -40.74%. Investors are closely monitoring the company’s strategies and market conditions that may influence its ability to recover from this low point. The 52-week low serves as a critical indicator for shareholders and potential investors, marking the lowest price at which the stock has traded during the last year and setting a benchmark for its future trajectory. According to InvestingPro analysis, the stock appears undervalued at current levels, with analysts maintaining price targets between $25 and $35. For deeper insights and access to 8 additional exclusive ProTips, explore the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Veeco Instruments Inc. reported its fourth-quarter 2024 results, which met the provided guidance and exceeded earnings expectations by one cent. The Semiconductor segment notably achieved a 13% year-over-year growth. Veeco revised its financial guidance for the fourth quarter and full year of 2024, projecting fourth-quarter revenue between $175 to $185 million and full-year revenue between $710 to $720 million. Citi analysts upgraded Veeco Instruments’ stock from Neutral to Buy, setting a price target of $33, citing optimism in the company’s laser annealing technologies and AI-related semiconductor revenue growth. Benchmark and Needham also adjusted their price targets for Veeco to $31 and $29, respectively, while maintaining a Buy rating. Needham noted a projected 35% decrease in China revenue for 2025 but expressed optimism in the advanced packaging and gate-all-around sectors. Veeco’s management anticipates revenue from these areas to double in 2025. Despite challenges, including a decline in the data storage segment, analysts believe Veeco is well-positioned for growth opportunities in 2025.
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