VECO

Veeco Instruments Inc Trading Update: Shares of Veeco Instruments (VECO) have entered oversold territory with an RSI of 29.2, indicating potential buying opportunities as recent selling pressure may be exhausting.

Stock Performance Overview: VECO's stock has a 52-week low of $20.85 and a high of $49.25, with the last trade recorded at $21.15.

Veeco Instruments Participation: Veeco Instruments Inc. will participate in a Fireside Chat at Morgan Stanley's Technology, Media, & Telecom Conference on March 3, 2025, at 6:20 PM ET in San Francisco, with live streaming available on their investor relations website.

Investor Engagement: The company will also hold meetings with investors during the conference, and a webcast replay of the presentation will be accessible for two weeks following the event.

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Community of Serious Traders: Over 10,000 traders are part of the Benzinga Pro community, benefiting from accurate market intelligence and timely updates.

Analyst Rating on Veeco: Thomas O’Malley from Barclays has maintained a Hold rating on Veeco with a price target of $25.00, while the analyst consensus suggests a Strong Buy with an average price target of $35.00.

Insider Activity and Stock Performance: Recent insider activity indicates negative sentiment towards Veeco, as 39 insiders have sold shares, including the SVP & CFO who sold 2,500 shares earlier this month.

Veeco's Q4 Performance: Veeco reported Q4 revenue of $182.13 million, exceeding the consensus estimate of $176.26 million, with CEO Bill Miller highlighting strong growth in their Semiconductor business and strategic milestones achieved throughout 2024.

Future Growth Opportunities: The company is well-positioned for future growth in areas such as Laser Annealing, Ion Beam Deposition, and Advanced Packaging, capitalizing on leading-edge investments in the semiconductor industry.

Veeco's Q1 Revenue Outlook: Veeco anticipates Q1 revenue between $155M and $175M, slightly below the consensus estimate of $174.34M, while highlighting strong performance in its Semiconductor business for the fourth consecutive year.

Strategic Growth Focus: CEO Bill Miller emphasized the company's strategic milestones and profitability, with a focus on growth opportunities in Laser Annealing, Ion Beam Deposition, and Advanced Packaging to capitalize on future investments.

Starbucks Options Trading: Starbucks Corp. experienced significant options trading with 55,218 contracts, particularly for the $113 strike call option expiring on February 14, 2025, which accounted for about 3.1 million underlying shares.

Veeco Instruments Options Activity: Veeco Instruments Inc. saw a trading volume of 3,248 contracts, mainly focused on the $25 strike call option expiring on February 21, 2025, representing approximately 256,200 underlying shares.

Current Stock Performance: Veeco Instruments Inc (VECO) shares have reached an oversold level with an RSI of 29.4, indicating potential buying opportunities as the stock trades at $23.95, close to its 52-week low of $23.47.

Market Comparison: The S&P 500 ETF (SPY) has a higher RSI of 49.3, suggesting that VECO's recent selling pressure may be waning compared to broader market trends.

ETF Analysis: The Invesco S&P SmallCap Momentum ETF (XSMO) has an implied analyst target price of $76.06, indicating an 11.92% upside from its current trading price of $67.96.

Stock Performance Insights: Notable underlying holdings such as Veeco Instruments, Tanger Inc, and ePlus Inc show significant potential upside based on analysts' target prices, raising questions about the validity of these targets amidst market conditions.

Updated Revenue Outlook: Veeco Instruments Inc. has revised its fourth-quarter revenue expectations to between $175 million and $185 million, an increase from the previous forecast of $165 million to $185 million.

Earnings Projections: The company anticipates fourth-quarter EPS in the range of $0.09 to $0.28, down from earlier estimates, while adjusted EPS is now projected at $0.36 to $0.44, reflecting challenges in market penetration for its Silicon Carbide Epitaxy technology.

Financial Guidance Update: Veeco Instruments Inc. has revised its financial guidance for Q4 and full year 2024, expecting Q4 revenue between $175 to $185 million and full year revenue of $710 to $720 million, with adjusted earnings per share estimates also updated.

Market Impact and Investor Engagement: The company noted a net impact on Q4 GAAP Net Income due to market penetration issues related to its Silicon Carbide Epitaxy technology, and management will present at the Needham Growth Conference to discuss these updates with investors.

Fourth Quarter Revenue Outlook: Veeco Instruments Inc. has updated its fourth-quarter revenue expectations to between $175 million and $185 million, an increase from the previous range of $165 million to $185 million, while also revising EPS estimates downward.

Market Penetration Issues: The revised guidance is attributed to the company's market penetration not meeting expectations for its Silicon Carbide Epitaxy technology acquired in 2023.

Stock Performance of Semiconductor Companies: Shares of semiconductor equipment companies like Nova Measuring Instruments and Veeco Instruments saw significant gains today, driven by analyst upgrades from Citi despite ongoing challenges in the industry.

Future Outlook for the Industry: Analysts predict a cautious outlook for the semiconductor equipment sector with expected declines in capital expenditures and memory spending, but anticipate potential growth opportunities for specific companies like Nova Measuring and Veeco due to their market positioning.

Chip Equipment Stocks Outlook: Citi analyst Atif Malik suggests that recent declines in chip equipment stocks present a buying opportunity, as many are now trading at discounts compared to the S&P 500 and PHLX Semiconductor Index.

Recommended Stocks: Malik has upgraded five lesser-known stocks—Advanced Energy Industries, FormFactor, MKS Instruments, Nova, and Veeco Instruments—to a Buy rating, anticipating double-digit gains as the sector recovers from a cyclical trough.

Veeco Instruments Presentation: Veeco Instruments Inc. will present at the 27th Annual Needham Growth Conference on January 14, 2025, and will be available for in-person meetings with investors during the event.

Company Overview: Veeco is a manufacturer of semiconductor process equipment, specializing in technologies that enhance the performance and cost-effectiveness of advanced semiconductor devices.

Veeco Instruments and PlayNitride Partnership: Veeco Instruments announced that PlayNitride has qualified its Lumina® MOCVD system for the production of MicroLEDs and placed an order for two systems to be delivered in 2025, following a successful evaluation.

Technological Advantages of Lumina System: The Lumina system is noted for its superior performance, productivity, and ability to produce high-quality epitaxial layers, making it suitable for various applications including wearables and automotive displays.

ETF Analysis: The iShares Core S&P Small-Cap ETF (IJR) has an implied analyst target price of $136.55, indicating an 11.17% upside from its current trading price of $122.83.

Stock Performance Insights: Notable underlying holdings like Shutterstock Inc, Xencor, and Veeco Instruments show significant potential upside based on analysts' target prices, raising questions about the validity of these targets amidst market conditions.

ETF Analyst Target Prices: The iShares Expanded Tech Sector ETF (IGM) has an implied analyst target price of $110.96 per unit, indicating a potential upside of 9.80% from its current trading price of $101.06.

Notable Holdings with Upside Potential: Key underlying holdings such as Onto Innovation Inc, Veeco Instruments Inc, and Crane NXT Co show significant upside potential, with expected increases of 54.35%, 47.51%, and 42.88% respectively based on average analyst target prices.

Veeco Instruments Inc Trading Update: On Wednesday, Veeco Instruments Inc (VECO) shares reached an RSI of 28.8, indicating they are oversold, with a recent trading low of $27.12 per share compared to the S&P 500 ETF's RSI of 66.2.

52-Week Performance Insight: VECO's stock has a 52-week range with a low of $27.12 and a high of $49.25, closing recently at $27.20, suggesting potential buying opportunities for bullish investors.