Veeco Instruments Inc. (VECO) Set to Announce Quarterly Earnings on Monday
Veeco Instruments Inc. (NASDAQ:VECO) will be issuing its quarterly earnings data after the market closes on Monday, July 31st. Analysts expect the company to announce earnings of $0.05 per share for the quarter. Veeco Instruments has set its Q2 guidance at ($0.05)-$0.09 EPS.
Veeco Instruments (NASDAQ:VECO) last issued its quarterly earnings data on Thursday, May 4th. The semiconductor company reported ($0.01) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.01). Veeco Instruments had a negative return on equity of 2.77% and a negative net margin of 30.27%. The business had revenue of $94.39 million for the quarter, compared to the consensus estimate of $94.50 million. During the same period in the prior year, the business earned ($0.15) earnings per share. The business’s revenue was up 21.0% on a year-over-year basis. On average, analysts expect Veeco Instruments to post $0.43 EPS for the current fiscal year and $1.92 EPS for the next fiscal year.
Shares of Veeco Instruments Inc. (NASDAQ:VECO) opened at 32.25 on Monday. Veeco Instruments Inc. has a 12 month low of $16.37 and a 12 month high of $34.38. The stock has a 50 day moving average price of $29.90 and a 200 day moving average price of $29.38. The stock’s market capitalization is $1.31 billion.
VECO has been the topic of a number of recent research reports. Zacks Investment Research upgraded Veeco Instruments from a “hold” rating to a “buy” rating and set a $33.00 target price on the stock in a report on Tuesday, April 4th. Benchmark Co. reaffirmed a “buy” rating and issued a $39.00 target price on shares of Veeco Instruments in a research report on Friday, April 21st. Stifel Nicolaus reaffirmed a “buy” rating and issued a $36.00 target price on shares of Veeco Instruments in a research report on Sunday, April 23rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $36.00 target price (up previously from $30.00) on shares of Veeco Instruments in a research report on Monday, April 24th. Finally, BidaskClub raised Veeco Instruments from a “sell” rating to a “hold” rating in a research report on Saturday, June 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $34.22.
In related news, SVP John P. Kiernan sold 8,836 shares of Veeco Instruments stock in a transaction on Monday, May 8th. The stock was sold at an average price of $32.44, for a total transaction of $286,639.84. Following the completion of the sale, the senior vice president now owns 23,211 shares of the company’s stock, valued at $752,964.84. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Peter J. Simone sold 4,257 shares of Veeco Instruments stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $31.91, for a total value of $135,840.87. Following the sale, the director now directly owns 24,332 shares of the company’s stock, valued at approximately $776,434.12. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,574 shares of company stock valued at $689,717. Insiders own 2.90% of the company’s stock.
About Veeco Instruments
Veeco Instruments Inc is engaged in the design, development, manufacture and support of thin film process equipment, primarily sold to make electronic devices. The Company’s geographical segments include the United States; China; Europe, Middle East and Africa (EMEA), and Rest of World (ROW). The Company’s portfolio of technology solutions focus on market areas, including Lighting, Display & Power Electronics; Advanced Packaging, micro-electromechanical systems (MEMS) & radio frequency (RF); Scientific & Industrial, and Data Storage.
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