Equities analysts expect that Veeco Instruments Inc. (NASDAQ:VECO) will post sales of $143.69 million for the current quarter, according to Zacks. Four analysts have issued estimates for Veeco Instruments’ earnings. The highest sales estimate is $146.00 million and the lowest is $140.20 million. Veeco Instruments posted sales of $93.61 million in the same quarter last year, which would indicate a positive year over year growth rate of 53.5%. The firm is expected to report its next earnings report on Thursday, February 15th.

According to Zacks, analysts expect that Veeco Instruments will report full year sales of $143.69 million for the current year, with estimates ranging from $481.55 million to $487.30 million. For the next fiscal year, analysts anticipate that the firm will post sales of $633.04 million per share, with estimates ranging from $601.64 million to $654.53 million. Zacks’ sales averages are an average based on a survey of analysts that cover Veeco Instruments.

Veeco Instruments (NASDAQ:VECO) last posted its quarterly earnings results on Thursday, November 2nd. The semiconductor company reported $0.09 EPS for the quarter, topping the consensus estimate of ($0.07) by $0.16. The business had revenue of $131.87 million during the quarter, compared to analysts’ expectations of $134.97 million. Veeco Instruments had a negative net margin of 10.16% and a negative return on equity of 0.73%. The firm’s quarterly revenue was up 54.3% compared to the same quarter last year. During the same period last year, the company posted ($0.05) earnings per share.

A number of equities analysts recently issued reports on the stock. Zacks Investment Research lowered shares of Veeco Instruments from a “hold” rating to a “sell” rating in a report on Saturday. Benchmark reissued a “buy” rating and issued a $33.00 price target on shares of Veeco Instruments in a report on Thursday, October 5th. KeyCorp lowered shares of Veeco Instruments to a “hold” rating in a report on Wednesday, October 25th. Needham & Company LLC reissued a “buy” rating and issued a $22.00 price target on shares of Veeco Instruments in a report on Friday, November 3rd. Finally, BidaskClub lowered shares of Veeco Instruments from a “sell” rating to a “strong sell” rating in a report on Thursday, December 7th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $29.22.

In related news, CEO John R. Peeler purchased 36,200 shares of the stock in a transaction dated Wednesday, December 13th. The stock was bought at an average cost of $13.81 per share, with a total value of $499,922.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP John P. Kiernan purchased 5,000 shares of the stock in a transaction dated Wednesday, December 13th. The stock was bought at an average cost of $13.65 per share, with a total value of $68,250.00. The disclosure for this purchase can be found here. Insiders have acquired a total of 63,700 shares of company stock valued at $877,472 over the last three months. Company insiders own 2.90% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Ameritas Investment Partners Inc. increased its stake in Veeco Instruments by 32.9% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,143 shares of the semiconductor company’s stock worth $115,000 after purchasing an additional 1,026 shares in the last quarter. Stifel Financial Corp bought a new stake in Veeco Instruments during the 2nd quarter worth approximately $202,000. Aperio Group LLC bought a new stake in Veeco Instruments during the 3rd quarter worth approximately $218,000. Laurion Capital Management LP bought a new stake in Veeco Instruments during the 2nd quarter worth approximately $237,000. Finally, Quantbot Technologies LP bought a new stake in Veeco Instruments during the 3rd quarter worth approximately $257,000. 98.60% of the stock is owned by institutional investors.

Veeco Instruments (NASDAQ VECO) traded down $0.30 during trading hours on Tuesday, hitting $16.00. 142,290 shares of the stock were exchanged, compared to its average volume of 648,240. Veeco Instruments has a 12 month low of $10.85 and a 12 month high of $34.38. The company has a market capitalization of $772.83, a price-to-earnings ratio of -16.00 and a beta of 0.73. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.11 and a current ratio of 2.61.

Veeco Instruments declared that its Board of Directors has initiated a stock buyback program on Monday, December 11th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the semiconductor company to reacquire shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.

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Veeco Instruments Company Profile

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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