Veeco Instruments (NASDAQ:VECO) is scheduled to be posting its quarterly earnings results after the market closes on Monday, February 12th. Analysts expect Veeco Instruments to post earnings of $0.09 per share for the quarter.
Veeco Instruments (NASDAQ VECO) opened at $16.50 on Monday. The stock has a market cap of $796.98, a price-to-earnings ratio of -16.50 and a beta of 0.78. Veeco Instruments has a 12 month low of $10.85 and a 12 month high of $34.38. 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 purchase shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.
Several research analysts recently issued reports on the stock. Benchmark reissued a “buy” rating and set a $23.00 target price on shares of Veeco Instruments in a research note on Friday, November 3rd. KeyCorp lowered shares of Veeco Instruments to a “hold” rating in a research note on Wednesday, October 25th. Zacks Investment Research lowered shares of Veeco Instruments from a “hold” rating to a “sell” rating in a research note on Tuesday, November 7th. Needham & Company LLC reissued a “buy” rating and set a $22.00 target price on shares of Veeco Instruments in a research note on Friday, November 3rd. Finally, BidaskClub lowered shares of Veeco Instruments from a “sell” rating to a “strong sell” rating in a research note on Thursday, December 7th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. Veeco Instruments has a consensus rating of “Hold” and an average price target of $29.14.
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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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