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Veeco Instruments Inc. (VECO) develops, manufactures, sells, and supports semiconductor and thin film process equipment primarily to make electronic devices worldwide. 
The company offers laser annealing, ion beam deposition and etch, metal organic chemical vapor deposition, single wafer wet processing and surface preparation, molecular beam epitaxy, and atomic layer deposition and other deposition systems, as well as packaging lithography equipment. Its process equipment systems are used in the production of a range of microelectronic components, including logic, dynamic random-access memory, photonics devices, power electronics, radio frequency filters and amplifiers, magnetic heads for hard disk drives, and other semiconductor devices.
In addition, the company markets and sells its products to integrated device manufacturers and foundries; outsourced semiconductor assembly and test, hard disk drive, and photonics manufacturers; and research centers and universities.
Shares have formed a bullish "cup and handle" followin the company's latest quarterly report and shares are expected to move higher. On May 8th, VECO reported 1st Quarter March 2023 earnings of $0.18 per share on revenue of $153.5 million. The consensus earnings estimate was $0.12 per share on revenue of $141.8 million.
The company said it expects second quarter non-GAAP earnings of $0.26 to $0.34 per share on revenue of $145.0 million to $165.0 million. The previous consensus earnings estimate was $0.26 per share on revenue of $154.46 million for the quarter ending June 30, 2023.
Entry Point: $24.75
Stop Loss: $22.00
Trading Range: $16.11 - $25.06
Target Price: $27.25
