Veeco Instruments Inc. (VECO) stock surged 5.14% in the pre-market session on Thursday, following the company's stellar fourth-quarter and full-year 2024 results, driven by robust growth in its semiconductor business.
The semiconductor equipment maker reported record revenue of $467 million for its semiconductor business in 2024, up 13% year-over-year, comprising 65% of total revenue. The company successfully shipped an LSA system for high-volume production of 2-nanometer gate all around logic chips, securing a new customer.
Veeco's advanced packaging business is expected to double in 2025, fueled by strong demand for wet processing and lithography solutions. The company is a market leader in laser annealing and ion beam deposition technologies, critical for leading-edge semiconductor manufacturing.
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