Veeco Instruments (VECO) Scheduled to Post Quarterly Earnings on Tuesday

Veeco Instruments (NASDAQ:VECO) will be issuing its quarterly earnings data after the market closes on Tuesday, May 7th. Analysts expect the company to announce earnings of $0.41 per share for the quarter. Veeco Instruments has set its Q1 guidance at $0.36-0.46 EPS and its Q1 2024 guidance at 0.360-0.460 EPS.Investors that are interested in registering for the company’s conference call can do so using this link.

Veeco Instruments (NASDAQ:VECO) last issued its quarterly earnings data on Wednesday, February 14th. The semiconductor company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.31 by $0.09. Veeco Instruments had a positive return on equity of 11.10% and a negative net margin of 4.56%. The business had revenue of $173.92 million for the quarter, compared to the consensus estimate of $170.00 million. On average, analysts expect Veeco Instruments to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Veeco Instruments Trading Up 1.9 %

NASDAQ:VECO opened at $36.37 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.24 and a quick ratio of 2.15. The business’s 50-day simple moving average is $35.17 and its 200-day simple moving average is $31.63. Veeco Instruments has a fifty-two week low of $17.70 and a fifty-two week high of $37.75. The stock has a market capitalization of $2.05 billion, a PE ratio of -55.95 and a beta of 1.18.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on VECO shares. Benchmark upped their target price on shares of Veeco Instruments from $34.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, February 15th. Barclays increased their price objective on Veeco Instruments from $28.00 to $33.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 16th. The Goldman Sachs Group boosted their target price on Veeco Instruments from $31.00 to $35.00 and gave the company a “neutral” rating in a research note on Thursday, February 15th. Finally, Citigroup raised their price target on shares of Veeco Instruments from $36.00 to $43.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $36.57.

Insider Buying and Selling at Veeco Instruments

In other news, CEO William John Miller sold 24,201 shares of Veeco Instruments stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $35.30, for a total transaction of $854,295.30. Following the completion of the transaction, the chief executive officer now directly owns 545,091 shares in the company, valued at approximately $19,241,712.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO William John Miller sold 24,201 shares of the firm’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $35.30, for a total transaction of $854,295.30. Following the completion of the sale, the chief executive officer now owns 545,091 shares in the company, valued at approximately $19,241,712.30. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Adrian Devasahayam sold 5,000 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $34.10, for a total value of $170,500.00. Following the transaction, the senior vice president now owns 67,278 shares in the company, valued at approximately $2,294,179.80. The disclosure for this sale can be found here. Corporate insiders own 2.40% of the company’s stock.

About Veeco Instruments

Veeco Instruments Inc, together with its subsidiaries, develops, manufactures, sells, and supports semiconductor and thin film process equipment primarily to make electronic devices in the United States, Europe, the Middle East, and Africa, China, Rest of the Asia-Pacific, and internationally. The company offers laser annealing, ion beam deposition and etch, metal organic chemical vapor deposition, single wafer wet processing and surface preparation, molecular beam epitaxy, advanced packaging lithography, atomic layer deposition, and other deposition systems.