Veeco Instruments (VECO) to Release Earnings on Wednesday

Veeco Instruments (NASDAQ:VECO) is scheduled to be announcing its earnings results after the market closes on Wednesday, November 6th. Analysts expect the company to announce earnings of $0.45 per share for the quarter. Individual that are interested in registering for the company’s earnings conference call can do so using this link.

Veeco Instruments (NASDAQ:VECO) last issued its quarterly earnings data on Tuesday, August 6th. The semiconductor company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.01). Veeco Instruments had a return on equity of 12.03% and a net margin of 11.83%. The company had revenue of $175.88 million for the quarter, compared to the consensus estimate of $176.03 million. During the same period in the previous year, the firm earned $0.21 earnings per share. The company’s revenue was up 8.8% compared to the same quarter last year. On average, analysts expect Veeco Instruments to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Veeco Instruments Price Performance

VECO stock opened at $28.70 on Tuesday. The company has a 50-day moving average price of $31.72 and a 200 day moving average price of $37.62. The stock has a market cap of $1.63 billion, a PE ratio of 20.35 and a beta of 1.17. The company has a current ratio of 3.52, a quick ratio of 2.32 and a debt-to-equity ratio of 0.35. Veeco Instruments has a 12 month low of $24.56 and a 12 month high of $49.25.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on VECO. StockNews.com raised shares of Veeco Instruments from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. Citigroup lowered Veeco Instruments from a “buy” rating to a “neutral” rating and upped their target price for the stock from $45.00 to $50.00 in a report on Monday, July 15th. Needham & Company LLC reiterated a “buy” rating and issued a $55.00 price target on shares of Veeco Instruments in a report on Wednesday, August 7th. Benchmark restated a “buy” rating and set a $42.00 price objective on shares of Veeco Instruments in a research note on Wednesday, August 7th. Finally, Northland Securities cut their target price on Veeco Instruments from $53.00 to $47.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Veeco Instruments currently has an average rating of “Moderate Buy” and a consensus price target of $45.57.

Insider Buying and Selling at Veeco Instruments

In other news, CFO John P. Kiernan sold 2,500 shares of the business’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $32.63, for a total transaction of $81,575.00. Following the sale, the chief financial officer now owns 82,642 shares in the company, valued at approximately $2,696,608.46. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.20% of the stock is currently owned by company insiders.

Veeco Instruments Company Profile

Veeco Instruments Inc, together with its subsidiaries, develops, manufactures, sells, and supports semiconductor and thin film process equipment primarily to make electronic devices in the United States, Europe, the Middle East, and Africa, China, Rest of the Asia-Pacific, and internationally. 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, advanced packaging lithography, atomic layer deposition, and other deposition systems.