Wall Street brokerages expect Veeco Instruments Inc. (NASDAQ:VECO) to report earnings of ($0.09) per share for the current quarter, Zacks reports. Five analysts have issued estimates for Veeco Instruments’ earnings, with the highest EPS estimate coming in at ($0.07) and the lowest estimate coming in at ($0.11). Veeco Instruments reported earnings of ($0.15) per share in the same quarter last year, which indicates a positive year over year growth rate of 40%. The company is expected to announce its next quarterly earnings report on Tuesday, November 7th.

According to Zacks, analysts expect that Veeco Instruments will report full year earnings of ($0.01) per share for the current fiscal year, with EPS estimates ranging from ($0.04) to $0.02. For the next year, analysts forecast that the company will post earnings of $1.65 per share, with EPS estimates ranging from $1.41 to $1.90. Zacks’ EPS calculations are a mean average based on a survey of research analysts that cover Veeco Instruments.

Veeco Instruments (NASDAQ:VECO) last issued its quarterly earnings data on Thursday, August 3rd. The semiconductor company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.03. Veeco Instruments had a negative net margin of 23.65% and a negative return on equity of 1.33%. The firm had revenue of $115.07 million for the quarter, compared to analyst estimates of $110.87 million. During the same period in the prior year, the business posted ($0.19) EPS. The business’s revenue for the quarter was up 52.7% compared to the same quarter last year.

A number of research analysts have weighed in on the stock. Stifel Nicolaus reaffirmed a “buy” rating and set a $36.00 price target (down from $38.00) on shares of Veeco Instruments in a research report on Wednesday. BidaskClub cut shares of Veeco Instruments from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Deutsche Bank AG cut shares of Veeco Instruments from a “buy” rating to a “hold” rating and reduced their price target for the company from $35.00 to $30.00 in a research report on Friday, August 4th. Zacks Investment Research cut shares of Veeco Instruments from a “hold” rating to a “sell” rating in a research report on Saturday, July 22nd. Finally, J P Morgan Chase & Co raised shares of Veeco Instruments from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $35.00 to $39.00 in a research report on Tuesday, June 13th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the stock. Veeco Instruments has an average rating of “Hold” and an average target price of $33.78.

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In related news, Director Peter J. Simone sold 4,257 shares of the company’s 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 $776,434.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President William John Miller sold 8,481 shares of the company’s stock in a transaction on Friday, May 19th. The shares were sold at an average price of $31.51, for a total transaction of $267,236.31. Following the completion of the sale, the president now directly owns 69,792 shares in the company, valued at $2,199,145.92. The disclosure for this sale can be found here. Insiders own 2.90% of the company’s stock.

A number of hedge funds have recently bought and sold shares of VECO. Norges Bank bought a new stake in Veeco Instruments during the fourth quarter valued at about $1,731,000. Teachers Advisors LLC boosted its stake in Veeco Instruments by 3.7% in the fourth quarter. Teachers Advisors LLC now owns 65,317 shares of the semiconductor company’s stock valued at $1,904,000 after buying an additional 2,349 shares in the last quarter. Creative Planning boosted its stake in Veeco Instruments by 3.4% in the first quarter. Creative Planning now owns 3,624 shares of the semiconductor company’s stock valued at $108,000 after buying an additional 120 shares in the last quarter. Bank of Montreal Can boosted its stake in Veeco Instruments by 7.6% in the first quarter. Bank of Montreal Can now owns 5,506 shares of the semiconductor company’s stock valued at $165,000 after buying an additional 391 shares in the last quarter. Finally, Louisiana State Employees Retirement System boosted its stake in Veeco Instruments by 1.2% in the first quarter. Louisiana State Employees Retirement System now owns 16,500 shares of the semiconductor company’s stock valued at $493,000 after buying an additional 200 shares in the last quarter. 87.07% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Veeco Instruments (NASDAQ VECO) traded up 0.49% during trading on Friday, hitting $20.55. 784,610 shares of the stock traded hands. Veeco Instruments has a 52-week low of $18.60 and a 52-week high of $34.38. The firm’s market cap is $995.03 million. The company’s 50 day moving average is $28.64 and its 200 day moving average is $29.29.

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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