Veeco Instruments
Builds deposition, annealing, etch, and lithography tools for semiconductor fabrication and packaging.
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Profile
Builds laser-annealing, ion-beam, deposition, wet-processing, and lithography systems for semiconductor fabrication and advanced packaging. Equipment sales are supplemented by parts and service, while demand spans cyclical logic, memory, compound-semiconductor, data-storage, and research markets worldwide.
Builds semiconductor process equipment spanning laser annealing; ion-beam deposition and etch; advanced-packaging lithography; single-wafer wet processing; metal-organic and silicon-carbide chemical vapor deposition; molecular-beam epitaxy; and atomic-layer deposition. These systems serve logic and memory, compound semiconductors, photonics, power electronics, hard-drive heads, and scientific research.
Pairs applications and materials expertise with high-volume systems engineering focused on process control, yield, and cost of ownership. Equipment sales are supplemented by parts, upgrades, and service for chipmakers, foundries, packaging contractors, hard-drive and photonics manufacturers, and research institutions; most sales go to customers in Asia-Pacific.
Operates as one reportable segment in cyclical capital-equipment markets, with concentrated customers, limited-source suppliers, long order cycles, and export controls on some shipments. A shareholder-approved merger with Axcelis remains pending Chinese regulatory approval.
Company facts
Key statistics
Year to date +45.1% · Average volume (30d) 743.9K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| May 19, 2026 | Barclays | Reiterate | Equal Weight | $30 | $55 | |
| Oct 7, 2025 | Northland Securities | Target | $30 | |||
| Oct 6, 2025 | Barclays | Target | $24 | $30 | ||
| Oct 3, 2025 | Needham | Downgrade | Buy | Hold | ||
| Jan 6, 2025 | Citigroup | Upgrade | Neutral | Buy |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 5, 2026Q2 FY26 | $0.26 | $0.33 | +28.0% | $180.1M | $193.5M | +7.4% | −2.55% |
| May 5, 2026Q1 FY26 | $0.20 | $0.14 | −30.0% | $160.1M | $158.3M | −1.1% | +25.17% |
| Feb 25, 2026Q4 FY25 | $0.25 | $0.24 | −4.0% | $165.0M | $165.0M | 0.0% | +7.77% |
| Nov 5, 2025Q3 FY25 | $0.28 | $0.36 | +28.6% | $166.2M | $165.9M | −0.2% | −1.02% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $167.3M | $166.1M | $165.9M | $165.0M | $158.3M | $193.5M | |
| Gross profit | $68.5M | $68.7M | $66.9M | $61.3M | $55.1M | $74.8M | |
| Operating income | $14.1M | $12.4M | $10.7M | −$1.5M | $1.2M | $11.9M | |
| Net income | $11.9M | $11.7M | $10.6M | $1.1M | −$324.0K | $11.9M | |
| Diluted EPS | $0.20 | $0.20 | $0.17 | $0.02 | −$0.01 | $0.18 | |
| Gross margin | 40.9% | 41.4% | 40.3% | 37.1% | 34.8% | 38.7% | |
| Operating margin | 8.5% | 7.4% | 6.4% | -0.9% | 0.8% | 6.1% |
Fiscal years (4-quarter sums)FY21 $583.3M · FY22 $646.1M · FY23 $666.4M · FY24 $717.3M · FY25 $664.3M
Revenue by product · Q2 FY26
Revenue by geography · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $429.4M · Total debt $257.0M · Total assets $1.41B · Shareholders' equity $902.8M
Dividends
No dividends on record.
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 61.03M · Float 59.77M · 97.9% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 9.61M | 15.74% | 13F | Aug 7, 2026 |
| FMR LLC | 9.06M | 14.85% | 13F | Aug 13, 2026 |
| Vanguard Portfolio Management LLC | 4.72M | 7.73% | 13F | Aug 13, 2026 |
| Neuberger Berman Group LLC | 3.65M | 5.98% | 13F | Aug 13, 2026 |
| Vanguard Capital Management LLC | 2.60M | 4.27% | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 17, 2026 | William John Miller | director, officer: CEO | −200,000 | $54.18 |
| Aug 10, 2026 | John P. Kiernan | officer: SVP & CHIEF FINANCIAL OFFICER | −35,000 | $51.05 |
| Jun 11, 2026 | Susan Wilkerson | officer: SVP, GLOBAL SALES & SERVICE | −15,506 | $69.56 |
| Jun 9, 2026 | Gordon Hunter | director | −16,974 | $68.80 |
| Jun 9, 2026 | Adrian Devasahayam | officer: SVP - PRODUCT LINE DEVELOPMENT | −10,000 | $65.00 |
Peers
- Applied Materials
Materials engineering giant in anneal, ALD, advanced packaging, EUV blanks
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Veeco Instruments | $44.30 | −0.06% | $2.70B | 122.1 | 18.2 | 4.0 | +16.5% |
| Applied Materials | $462.35 | +0.16% | $366.55B | 39.8 | 26.2 | 11.9 | +24.8% |
| Median | 39.8 | 26.2 | 11.9 | +24.8% |