- Veeco posted solid fourth quarter results, including impressive operating leverage, and exited the quarter with a strong backlog.
- Winning new customers for its LSA and IBD tools is significant, and I expect to see additional wins in areas like IBD for semiconductors and MOCVD for GaN power/microLEDs.
- Veeco's storage business will slow in 2022, but the business is still fundamentally healthy.
- With improving margins and an improving growth outlook, Veeco shares still look undervalued and there is longer-term upside tied to additional tool/process wins in new markets.
For further details see:
Veeco Coming Through With Orders And Strengthening Its Enabling Tools Argument