Veeco Instruments received a Propel®300 order for GaN epitaxy, enhancing its leadership in 300mm semiconductor technology.
Quiver AI Summary
Veeco Instruments Inc. has announced the receipt of an order for its Propel®300 system from a significant power semiconductor integrated device manufacturer, aimed at gallium nitride (GaN) epitaxy on 300mm silicon wafers. This order strengthens Veeco's leadership in 300mm MOCVD technology, particularly for GaN applications, which offer advantages such as increased chip yield per wafer and reduced costs by utilizing existing production lines. The GaN market is projected to grow significantly, driven by rising demand for efficient power supplies in automotive, industrial, and data center sectors, particularly as AI workloads increase power consumption. The Propel®300 system features advanced MOCVD TurboDisc technology, providing high performance, automated handling, and low operational costs, making it a compelling choice for semiconductor manufacturers.
Potential Positives
- Veeco received a significant order for its Propel®300 system from a major power semiconductor IDM, reinforcing its market position in advanced semiconductor manufacturing.
- The Propel®300 system enables efficiency improvements by allowing customers to produce 2.3 times more chips per wafer, thus potentially reducing production costs for clients.
- The press release highlights the anticipated growth of the GaN device market, projected to reach $2.5B by 2030, indicating strong future demand for Veeco's technologies.
- Veeco's Propel®300 platform is described as delivering best-in-class performance, low defectivity, and high productivity, contributing to a low cost of ownership, which enhances its competitive advantage in the semiconductor industry.
Potential Negatives
- The press release includes a forward-looking statement that indicates potential risks and uncertainties, which may create apprehension among investors regarding future performance.
- The mention of competitive pressures in the market for gallium nitride technology implies the need for Veeco to continuously innovate and invest, which could strain resources.
- No specific financial details are provided regarding the order or its potential impact on revenue, leaving investors without clear insights into the financial implications of the announcement.
FAQ
What is the Propel®300 system?
The Propel®300 system is a MOCVD technology used for gallium nitride (GaN) epitaxy on 300mm silicon wafers.
Who ordered the Propel®300 system?
A major power semiconductor integrated device manufacturer (IDM) has placed the order for the Propel®300 system.
How does the Propel®300 benefit semiconductor manufacturing?
The Propel®300 allows for 2.3 times more chips per wafer and utilizes existing 300mm production lines to reduce costs.
What is driving the growth of the GaN device market?
The GaN device market is expected to grow due to rising power consumption in automotive, industrial, and data center applications.
What distinguishes Veeco's Propel®300 technology?
Propel®300 combines high performance, automated wafer handling, low defectivity, and high productivity, leading to a low cost of ownership.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$VECO Insider Trading Activity
$VECO insiders have traded $VECO stock on the open market 7 times in the past 6 months. Of those trades, 0 have been purchases and 7 have been sales.
Here’s a breakdown of recent trading of $VECO stock by insiders over the last 6 months:
- WILLIAM JOHN MILLER (CEO) has made 0 purchases and 2 sales selling 50,000 shares for an estimated $1,425,000.
- ADRIAN DEVASAHAYAM (SVP - PRODUCT LINE DEVELOPMENT) has made 0 purchases and 4 sales selling 22,921 shares for an estimated $582,255.
- JOHN P KIERNAN (SVP & CHIEF FINANCIAL OFFICER) sold 2,500 shares for an estimated $51,600
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$VECO Hedge Fund Activity
We have seen 129 institutional investors add shares of $VECO stock to their portfolio, and 108 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- WESTFIELD CAPITAL MANAGEMENT CO LP removed 1,059,504 shares (-100.0%) from their portfolio in Q2 2025, for an estimated $21,529,121
- SG CAPITAL MANAGEMENT LLC added 808,114 shares (+inf%) to their portfolio in Q2 2025, for an estimated $16,420,876
- LOOMIS SAYLES & CO L P removed 714,708 shares (-100.0%) from their portfolio in Q2 2025, for an estimated $14,522,866
- FMR LLC added 429,943 shares (+279.3%) to their portfolio in Q2 2025, for an estimated $8,736,441
- NEUMEIER POMA INVESTMENT COUNSEL LLC removed 404,852 shares (-100.0%) from their portfolio in Q2 2025, for an estimated $8,226,592
- MILLENNIUM MANAGEMENT LLC removed 397,823 shares (-83.9%) from their portfolio in Q2 2025, for an estimated $8,083,763
- D. E. SHAW & CO., INC. removed 350,601 shares (-51.9%) from their portfolio in Q2 2025, for an estimated $7,124,212
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
$VECO Analyst Ratings
Wall Street analysts have issued reports on $VECO in the last several months. We have seen 1 firms issue buy ratings on the stock, and 0 firms issue sell ratings.
Here are some recent analyst ratings:
- Benchmark issued a "Buy" rating on 08/07/2025
To track analyst ratings and price targets for $VECO, check out Quiver Quantitative's $VECO forecast page.
$VECO Price Targets
Multiple analysts have issued price targets for $VECO recently. We have seen 2 analysts offer price targets for $VECO in the last 6 months, with a median target of $29.0.
Here are some recent targets:
- Charles Shi from Needham set a target price of $30.0 on 08/07/2025
- Mark Miller from Benchmark set a target price of $28.0 on 08/07/2025
Full Release
PLAINVIEW, N.Y., Nov. 05, 2025 (GLOBE NEWSWIRE) -- Veeco Instruments Inc. (NASDAQ: VECO) announced today receipt of an order for a Propel®300 system from a major power semiconductor integrated device manufacturer (IDM) for gallium nitride (GaN) epitaxy on 300mm silicon (Si) wafers. This order cements Veeco’s position as a leader in 300mm MOCVD technology, building on years of experience including previous shipments of the Propel®300 platform for various applications across the compound semiconductor industry.
“Qualifying Propel®300 for 300mm GaN-on-Si epitaxy for power devices is a significant achievement in the path to widespread adoption of GaN technology,” commented Anil Vijayendran, Vice President, MOCVD Product Line Management. “Moving from 200mm to 300mm enables customers to achieve 2.3 times more chips per wafer, while allowing them to use existing 300mm production lines, and ultimately lower their device costs”
GaN’s high efficiency and superior thermal and switching properties, which can significantly reduce device and overall system size and weight, are accelerating its adoption in power semiconductor manufacturing. According to Yole Group, the GaN device market is expected to grow at a 35% CAGR from $555M in 2025 to $2.5B in 2030. Key to this growth will be the increased adoption of GaN technology in automotive, industrial, and data center applications, where the continuously rising power consumption requirements of AI workloads are fueling demand for more efficient power supplies.
Featuring Veeco’s proven MOCVD TurboDisc technology, Propel®300 combines exceptional performance with fully automated wafer handling to provide not only best-in-class thickness and doping uniformity but also low defectivity and high productivity. These benefits, together with its industry-renowned ease of use and long campaigns that do not require in-situ cleaning, contribute to Propel®300’s low cost of ownership per wafer.
About Veeco
Veeco (NASDAQ: VECO) is an innovative manufacturer of semiconductor process equipment. Our laser annealing, ion beam, metal organic chemical vapor deposition (MOCVD), single wafer etch & clean and lithography technologies play an integral role in the fabrication and packaging of advanced semiconductor devices. With equipment designed to optimize performance, yield and cost of ownership, Veeco holds leading technology positions in the markets we serve. To learn more about Veeco’s systems and service offerings, visit www.veeco.com .
To the extent that this news release discusses expectations or otherwise makes statements about the future, such statements are forward-looking and are subject to a number of risks and uncertainties that could cause actual results to differ materially from the statements made. These factors include the risks discussed in the Business Description and Management's Discussion and Analysis sections of Veeco's Annual Report on Form 10-K for the year ended December 31, 2024 and in our subsequent quarterly reports on Form 10-Q, current reports on Form 8-K and press releases. Veeco does not undertake any obligation to update any forward-looking statements to reflect future events or circumstances after the date of such statements.
Veeco Contacts:
Investors: Alex Delacroix | (516) 528-1020 |
[email protected]
Media: Brenden Wright | (410) 984-2610 |
[email protected]
