Veeco Instruments Inc. (VECO) Scheduled to Post Quarterly Earnings on Thursday
Veeco Instruments Inc. (NASDAQ:VECO) will be issuing its quarterly earnings data after the market closes on Thursday, November 2nd. Analysts expect the company to announce earnings of $0.02 per share for the quarter. Veeco Instruments has set its Q3 guidance at ($0.09)-$0.09 EPS.
Veeco Instruments (NASDAQ:VECO) last issued its earnings results on Thursday, August 3rd. The semiconductor company reported ($0.07) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.03. The firm had revenue of $115.07 million during the quarter, compared to analyst estimates of $110.87 million. Veeco Instruments had a negative net margin of 23.65% and a negative return on equity of 1.33%. The business’s revenue was up 52.7% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.19) earnings per share. On average, analysts expect Veeco Instruments to post $0.45 EPS for the current fiscal year and $1.51 EPS for the next fiscal year.
Shares of Veeco Instruments Inc. (NASDAQ VECO) opened at 17.60 on Thursday. Veeco Instruments Inc. has a 52 week low of $17.50 and a 52 week high of $34.38. The stock’s 50 day moving average is $20.74 and its 200-day moving average is $26.46. The stock’s market capitalization is $852.19 million.
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A number of analysts recently issued reports on VECO shares. BidaskClub raised Veeco Instruments from a “sell” rating to a “hold” rating in a research report on Thursday, July 13th. Stifel Nicolaus restated a “buy” rating and set a $38.00 target price (up from $36.00) on shares of Veeco Instruments in a report on Friday, July 21st. Zacks Investment Research cut Veeco Instruments from a “hold” rating to a “sell” rating in a report on Saturday, July 22nd. Deutsche Bank AG cut Veeco Instruments from a “buy” rating to a “hold” rating and lowered their target price for the company from $35.00 to $30.00 in a report on Friday, August 4th. Finally, KeyCorp lowered their target price on Veeco Instruments from $34.00 to $31.00 and set an “overweight” rating for the company in a report on Friday, August 18th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $30.89.
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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