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John P. Kiernan, Senior Vice President and Chief Financial Officer of Veeco Instruments Inc. (NASDAQ:VECO), recently sold 2,500 shares of the company’s common stock. The transaction, which took place on February 10, 2025, was executed at a price of $24.51 per share, amounting to a total sale value of $61,275. The sale comes as VECO trades near its 52-week low of $23.24, having declined over 32% in the past six months. According to InvestingPro analysis, the stock appears undervalued at current levels. Following this transaction, Kiernan holds 72,642 shares indirectly through a family trust and 4,667 shares directly. Veeco Instruments, based in Plainview, NY, specializes in special industry machinery. The company maintains strong financial health with a current ratio of 3.54 and moderate debt levels. Investors should note that Veeco is scheduled to report earnings on February 12, 2025. For comprehensive analysis and additional insights, check out the detailed Pro Research Report available on InvestingPro.
In other recent news, Veeco Instruments Inc. has made several noteworthy updates. The company has revised its Q4 and full-year 2024 guidance, expecting Q4 revenue to range from $175 to $185 million and full-year revenue to be between $710 to $720 million. The change in guidance also reflects a net impact on Q4 2024 GAAP Net Income due to the company’s Silicon Carbide Epitaxy technology not meeting market expectations.
On the analyst front, Veeco received an upgrade from Citi analysts from Neutral to Buy, reflecting a positive outlook on the company’s expanding Serviceable Available Market (SAM) and gains in laser annealing and nanosecond annealing technologies. The analysts also anticipate growth in Veeco’s AI-related semiconductor revenue, doubling its contribution to the company’s total sales in 2025.
Veeco has also secured a new partnership with PlayNitride, a pioneer in MicroLED technology. The partnership follows a successful evaluation of Veeco’s Lumina® Metal Organic Chemical Vapor Deposition (MOCVD) system, which PlayNitride has now qualified for the production of MicroLEDs.
In response to new U.S. export regulations, Veeco anticipates no significant effect on its business in China. After a preliminary review of these regulations, the company does not foresee a material impact on its operations in the region. These developments indicate Veeco’s active engagement in the semiconductor industry and its ability to adapt to changing market conditions.
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