Analysts predict that Veeco Instruments Inc. (NASDAQ:VECO) will post $0.08 earnings per share (EPS) for the current quarter, Zacks reports. Two analysts have made estimates for Veeco Instruments’ earnings, with the lowest EPS estimate coming in at $0.07 and the highest estimate coming in at $0.09. Veeco Instruments posted earnings per share of $0.09 in the same quarter last year, which would indicate a negative year over year growth rate of 11.1%. The company is scheduled to issue its next quarterly earnings results on Thursday, November 1st.
According to Zacks, analysts expect that Veeco Instruments will report full-year earnings of $0.57 per share for the current financial year. For the next fiscal year, analysts forecast that the business will report earnings of $1.15 per share, with EPS estimates ranging from $1.00 to $1.30. Zacks’ EPS averages are an average based on a survey of sell-side analysts that cover Veeco Instruments.
Veeco Instruments (NASDAQ:VECO) last issued its quarterly earnings results on Thursday, August 2nd. The semiconductor company reported $0.15 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.02. Veeco Instruments had a positive return on equity of 1.26% and a negative net margin of 47.49%. The firm had revenue of $157.78 million during the quarter, compared to analyst estimates of $160.35 million. During the same period last year, the company earned $0.15 EPS. Veeco Instruments’s quarterly revenue was up 40.6% compared to the same quarter last year.
Several research analysts recently weighed in on VECO shares. BidaskClub upgraded Veeco Instruments from a “strong sell” rating to a “sell” rating in a research note on Saturday, September 1st. Benchmark restated a “hold” rating on shares of Veeco Instruments in a research note on Wednesday, September 5th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Veeco Instruments currently has a consensus rating of “Hold” and a consensus price target of $26.33.
Shares of VECO stock traded up $0.24 on Monday, reaching $9.30. 499,549 shares of the company’s stock were exchanged, compared to its average volume of 551,127. Veeco Instruments has a 52 week low of $9.03 and a 52 week high of $22.35. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.20 and a current ratio of 2.94. The firm has a market capitalization of $500.11 million, a P/E ratio of -465.00 and a beta of 0.50.
In other news, CEO John R. Peeler purchased 10,000 shares of the company’s stock in a transaction on Friday, August 10th. The shares were acquired at an average price of $11.45 per share, for a total transaction of $114,500.00. Following the purchase, the chief executive officer now owns 393,162 shares in the company, valued at $4,501,704.90. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Shubham Maheshwari purchased 5,000 shares of the company’s stock in a transaction on Thursday, August 23rd. The shares were purchased at an average price of $10.05 per share, for a total transaction of $50,250.00. Following the purchase, the chief financial officer now owns 93,323 shares in the company, valued at approximately $937,896.15. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 33,900 shares of company stock worth $385,990. 2.60% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in Veeco Instruments during the 2nd quarter valued at about $147,000. Trexquant Investment LP purchased a new stake in Veeco Instruments during the 2nd quarter valued at about $201,000. Verition Fund Management LLC purchased a new stake in Veeco Instruments during the 1st quarter valued at about $221,000. Cubist Systematic Strategies LLC purchased a new stake in Veeco Instruments during the 1st quarter valued at about $228,000. Finally, Quadrature Capital Ltd purchased a new stake in Veeco Instruments during the 1st quarter valued at about $248,000. Institutional investors and hedge funds own 94.91% of the company’s stock.
Veeco Instruments Company Profile
Veeco Instruments Inc, together with its subsidiaries, develops, manufactures, sells, and supports semiconductor process equipment worldwide. It offers metal organic chemical vapor deposition systems; packaging lithography equipment; precision surface processing systems; laser annealing systems; ion beam etch and deposition systems; molecular beam epitaxy systems; 3D wafer inspection systems; and atomic layer deposition and other deposition systems.
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