Needham analyst Charles Shi has maintained their neutral stance on VECO stock, giving a Hold rating on October 23.
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Charles Shi’s rating is based on several factors influencing Veeco’s current and future performance. Veeco’s recent quarterly results exceeded expectations, with both revenue and earnings per share surpassing estimates. However, the guidance for the next quarter indicates flat revenue growth, and gross margins are temporarily affected by the mix of shipments and discounted pricing for certain evaluation tools.
Despite positive developments such as the expansion into EUV pellicles and increased orders in data storage, the long lead times for shipments and the pending all-stock deal with ACLS are seen as limiting factors for the stock’s potential upside. Consequently, while Veeco has promising prospects, these constraints lead to a Hold rating being maintained.
In another report released on October 23, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $32.00 price target.
Based on the recent corporate insider activity of 40 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of VECO in relation to earlier this year.