Semiconductor tools maker Veeco slightly misses Q4 revenue expectations

Overview

• Semiconductor equipment maker's Q4 revenue slightly missed analyst expectations

• Non-GAAP net income for Q4 missed analyst estimates

• Company anticipates growth from AI and high-performance computing, plans Axcelis merger

Outlook

• Veeco expects Q1 2026 revenue between $150 mln and $170 mln

• Company forecasts FY 2026 revenue between $740 mln and $800 mln

• Veeco anticipates FY 2026 GAAP EPS between $0.83 and $1.17

Result Drivers

• BOOKINGS GROWTH - Veeco noted increased bookings in semiconductor and data storage markets, positioning for future growth

• MERGER PLANS - Planned merger with Axcelis expected to enhance growth and strategic value

Company press release: ID:nGNX4HZ4vQ

Key Details

*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 1 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the semiconductor equipment & testing peer group is "buy"

• Wall Street's median 12-month price target for Veeco Instruments Inc is $30.00, about 2.2% above its February 24 closing price of $29.36

• The stock recently traded at 19 times the next 12-month earnings vs. a P/E of 20 three months ago

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