Veeco Instruments (NASDAQ:VECO) Releases Quarterly Earnings Results, Beats Expectations By $0.02 EPS

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Veeco Instruments (NASDAQ:VECO) announced its earnings results on Tuesday. The semiconductor company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.23 by $0.02, MarketWatch Earnings reports. Veeco Instruments had a positive return on equity of 5.05% and a negative net margin of 9.61%. The business had revenue of $133.70 million during the quarter, compared to the consensus estimate of $125.68 million. During the same period in the prior year, the business posted $0.22 earnings per share. Veeco Instruments’s revenue was up 27.9% compared to the same quarter last year. Veeco Instruments updated its Q2 2021 guidance to 0.170-0.350 EPS and its Q2 guidance to $0.17-$0.35 EPS.

NASDAQ:VECO traded down $0.63 during trading hours on Tuesday, hitting $22.12. 449,200 shares of the company’s stock traded hands, compared to its average volume of 429,963. The firm has a market cap of $1.10 billion, a P/E ratio of -25.72 and a beta of 1.42. Veeco Instruments has a twelve month low of $9.59 and a twelve month high of $24.55. The company has a debt-to-equity ratio of 0.81, a quick ratio of 2.92 and a current ratio of 3.90. The stock’s fifty day moving average price is $21.59 and its two-hundred day moving average price is $19.07.

Several equities research analysts have recently commented on VECO shares. Barclays upped their target price on Veeco Instruments from $24.00 to $26.00 and gave the company an “overweight” rating in a report on Wednesday, March 10th. Zacks Investment Research downgraded Veeco Instruments from a “hold” rating to a “strong sell” rating in a report on Wednesday, April 14th. Finally, Oppenheimer reaffirmed a “buy” rating and set a $25.00 target price on shares of Veeco Instruments in a report on Tuesday, February 2nd. One analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $20.57.

Veeco Instruments Company Profile

Veeco Instruments Inc, together with its subsidiaries, develops, manufactures, sells, and supports semiconductor and thin film process equipment primarily to make electronic devices worldwide. 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, and atomic layer deposition and other deposition systems, as well as packaging lithography equipment.

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Earnings History for Veeco Instruments (NASDAQ:VECO)

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