Shares of Veeco Instruments Inc (VECO, Financial) surged 3.28% in mid-day trading on Oct 2. The stock reached an intraday high of $33.30, before settling at $33.23, up from its previous close of $32.17.
Veeco Instruments Inc. (VECO) Q2 2024 Earnings Call Transcript
Veeco Instruments (VECO) came out with quarterly earnings of $0.42 per share, missing the Zacks Consensus Estimate of $0.44 per share. This compares to earnings of $0.36 per share a year ago.
Veeco (VECO) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
The heavy selling pressure might have exhausted for Veeco (VECO) as it is technically in oversold territory now. In addition to this technical measure, strong agreement among Wall Street analysts in revising earnings estimates higher indicates that the stock is ripe for a trend reversal.
As AI demand continues to build, semiconductor industry suppliers like Veeco Instruments Inc. (VECO) keep benefiting.