Veeco Instruments

VECO · NASDAQ

$44.57+$0.92 (+2.11%)TodayMarket closed · Oct 20, 7:46 PM ET

Prev close $43.65

VECO analyst rating

BuyConsensus of 3 analysts over the last 12 months. 67% rate it a buy.

Strong buy0
Buy2
Hold1
Underperform0
Sell0

12-month price target · 6 analysts

Average $54.57 (+22.4% upside)

Low: $30.30
Now: $44.57
High: $69.30

Upgrades and downgrades

The latest rating actions, newest first

VECO analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Northland Capital Markets	Sep 21, 2026	Upgrade	Market Perform → Outperform	$66.00	58%
Citigroup	Aug 10, 2026	Maintains	Buy	$60.00 → $63.00	71%
Barclays	May 19, 2026	Maintains	Equal-Weight	$30.00 → $55.00	64%
Citigroup	May 6, 2026	Maintains	Buy	$40.00 → $60.00	71%
Citigroup	Feb 26, 2026	Maintains	Buy	$36.00 → $40.00	71%
Citigroup	Nov 12, 2025	Maintains	Buy	$29.00 → $36.00	71%

The case for and against

Updated Jul 31, 2025

Bull case

Veeco Instruments Inc. is poised for growth, with a projected full-year revenue of $715 million for 2024, reflecting a 7% increase compared to the previous year. The company is experiencing heightened demand, particularly within the semiconductor industry, bolstered by significant capital expenditures from TSMC, which plans to invest $40 billion this year—a 34% rise. Additionally, the prospects for advanced packaging and quantum computing are anticipated to further enhance revenue streams, with expectations for sales in these areas to double by 2025.

Bear case

Veeco Instruments Inc. faces significant challenges in its financial outlook due to projected declines in key segments, particularly within the Data Storage sector, which is anticipated to see a revenue drop of approximately 60% year-over-year in 2025. The company's guidance for the first quarter of 2025 fell short of market expectations, influenced by weaknesses in the Chinese semiconductor market and a complete absence of HDD system sales, further exacerbating revenue pressures. Additionally, projected gross margins are expected to decline from 43.3% in 2024 to 42% in 2025, reflecting adverse effects from a mix shift and higher operational expenses, which could dampen overall profitability.

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